Wedmont Private Capital Makes New Investment in Lumentum Holdings Inc. $LITE

Wedmont Private Capital purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 1,150 shares of the technology company’s stock, valued at approximately $452,000.

Several other hedge funds also recently modified their holdings of the company. Federated Hermes Inc. raised its position in Lumentum by 7,168.8% in the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after purchasing an additional 357,367 shares during the last quarter. FengHe Fund Management Pte. Ltd. bought a new stake in shares of Lumentum during the third quarter worth about $71,771,000. Pacer Advisors Inc. acquired a new stake in Lumentum during the 3rd quarter worth approximately $1,512,000. Headwater Capital Co Ltd bought a new stake in Lumentum during the 3rd quarter worth approximately $20,339,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Lumentum in the 3rd quarter valued at approximately $1,383,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. TD Cowen initiated coverage on Lumentum in a report on Thursday, March 12th. They issued a “hold” rating and a $675.00 price objective for the company. Mizuho boosted their price target on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. B. Riley Financial raised shares of Lumentum from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $147.00 to $526.00 in a research note on Wednesday, February 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $900.00 price target on shares of Lumentum in a research report on Wednesday, March 18th. Finally, Bank of America boosted their price objective on Lumentum to $520.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $801.99 on Wednesday. The company has a market capitalization of $57.26 billion, a PE ratio of 246.01 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $558.75 and its 200-day moving average price is $360.20. Lumentum Holdings Inc. has a twelve month low of $45.65 and a twelve month high of $803.58.

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

Insider Activity at Lumentum

In other news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This represents a 7.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yuen Wupen sold 3,157 shares of Lumentum stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the sale, the insider directly owned 88,439 shares in the company, valued at $47,580,182. This trade represents a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,775 shares of company stock valued at $38,851,343 in the last three months. Insiders own 0.43% of the company’s stock.

Lumentum Profile

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.