Pinnacle Wealth Management Advisory Group LLC Invests $3.16 Million in Lumentum Holdings Inc. $LITE

Pinnacle Wealth Management Advisory Group LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 4,497 shares of the technology company’s stock, valued at approximately $3,160,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the first quarter valued at $25,000. EverSource Wealth Advisors LLC raised its stake in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the 4th quarter valued at about $28,000. Truvestments Capital LLC lifted its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. Finally, Triumph Capital Management acquired a new position in shares of Lumentum in the 4th quarter valued at about $30,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Price Performance

NASDAQ:LITE opened at $818.73 on Friday. Lumentum Holdings Inc. has a 52 week low of $88.37 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $63.70 billion, a PE ratio of 151.62 and a beta of 1.47. The stock’s 50-day moving average price is $901.03 and its 200-day moving average price is $668.39.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on LITE shares. Craig Hallum upped their target price on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Northland Securities upped their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Finally, Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Buying and Selling

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. This represents a 19.08% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 41,260 shares of company stock valued at $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

About Lumentum

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.