Gateway Wealth Partners LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Gateway Wealth Partners LLC acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 981 shares of the technology company’s stock, valued at approximately $689,000.

A number of other hedge funds also recently made changes to their positions in LITE. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum during the first quarter worth $25,000. Sachetta LLC grew its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Wiser Advisor Group LLC grew its holdings in Lumentum by 6,000.0% during the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after purchasing an additional 60 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in Lumentum by 687.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock worth $44,000 after buying an additional 55 shares during the period. Finally, Truvestments Capital LLC increased its stake in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Up 15.1%

LITE opened at $693.24 on Friday. Lumentum Holdings Inc. has a 12-month low of $101.61 and a 12-month high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The stock has a market capitalization of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48. The firm’s fifty day moving average price is $825.72 and its 200 day moving average price is $736.71.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, Director Ian Small sold 4,954 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LITE. Citigroup reissued a “buy” rating on shares of Lumentum in a research report on Thursday, July 16th. Citic Securities lifted their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. Finally, Barclays increased their price target on Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

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.