O Neil Global Advisors Inc. Invests $538,000 in Lumentum Holdings Inc. $LITE

O Neil Global Advisors Inc. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, Holdings Channel.com reports. The firm purchased 3,308 shares of the technology company’s stock, valued at approximately $538,000.

Other institutional investors have also recently made changes to their positions in the company. Advisors Asset Management Inc. increased its holdings in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after buying an additional 6,275 shares during the last quarter. Empowered Funds LLC increased its stake in Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares in the last quarter. Ethic Inc. raised its holdings in shares of Lumentum by 32.3% during the second quarter. Ethic Inc. now owns 12,664 shares of the technology company’s stock valued at $1,200,000 after acquiring an additional 3,090 shares during the last quarter. Finally, Forum Financial Management LP purchased a new position in shares of Lumentum in the second quarter valued at approximately $292,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Penny Herscher sold 4,849 shares of the company’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the transaction, the director owned 6,057 shares of the company’s stock, valued at $3,243,402.36. This represents a 44.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the sale, the insider directly owned 102,455 shares of the company’s stock, valued at $60,583,690.60. The trade was a 30.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 60,473 shares of company stock worth $35,186,972. Company insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wolfe Research reiterated an “outperform” rating and set a $240.00 price target on shares of Lumentum in a research report on Wednesday, November 5th. Bank of America lifted their target price on shares of Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Citigroup increased their target price on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Northland Securities set a $350.00 price target on shares of Lumentum in a research report on Wednesday, December 3rd. Finally, UBS Group upped their price objective on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $447.38.

Lumentum Trading Up 5.1%

Shares of LITE opened at $667.77 on Monday. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $678.00. The firm has a market capitalization of $47.68 billion, a P/E ratio of 204.84 and a beta of 1.51. The firm has a 50-day moving average price of $419.10 and a 200 day moving average price of $273.54. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.26. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. Lumentum’s revenue was up 65.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 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.