Silvant Capital Management LLC Acquires Shares of 17,534 Lumentum Holdings Inc. $LITE

Silvant Capital Management LLC acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,534 shares of the technology company’s stock, valued at approximately $15,045,000.

Several other institutional investors have also bought and sold shares of the stock. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum in the first quarter valued at $25,000. Sachetta LLC boosted its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the period. Truvestments Capital LLC grew its holdings in 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 last quarter. Triumph Capital Management bought a new position in Lumentum during the fourth quarter valued at about $30,000. Finally, Danske Bank A S acquired a new stake in Lumentum during the third quarter valued at approximately $33,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity

In other news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the sale, the insider owned 114,495 shares in the company, valued at approximately $104,125,187.85. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Jae Kim sold 1,366 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $1,242,281.38. Following the completion of the transaction, the senior vice president owned 45,973 shares in the company, valued at approximately $41,809,225.39. This represents a 2.89% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 9,965 shares of company stock valued at $8,993,110. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. JPMorgan Chase & Co. increased their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Citigroup reaffirmed a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Weiss Ratings cut Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday. Morgan Stanley raised their target price on shares of Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,044.67.

Lumentum Price Performance

Lumentum stock opened at $879.28 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The company has a market cap of $78.87 billion, a price-to-earnings ratio of -10.70 and a beta of 1.50. Lumentum Holdings Inc. has a 12 month low of $115.21 and a 12 month high of $1,085.68. The business’s 50 day simple moving average is $810.86 and its 200 day simple moving average is $789.68.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the business posted $0.88 earnings per share. The business’s quarterly revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 16.95 EPS for the current year.

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.