SummitTX Capital L.P. Takes $882,000 Position in Lumentum Holdings Inc. $LITE

SummitTX Capital L.P. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 1,255 shares of the technology company’s stock, valued at approximately $882,000.

Several other hedge funds have also modified their holdings of the stock. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the first quarter valued at approximately $25,000. Sachetta LLC grew its stake in shares of 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 buying an additional 19 shares during the period. Wiser Advisor Group LLC increased its holdings in shares of Lumentum by 6,000.0% during the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock worth $43,000 after buying an additional 60 shares during the last quarter. SJS Investment Consulting Inc. increased its holdings in shares of 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 last quarter. Finally, Truvestments Capital LLC raised its position in shares of Lumentum by 300.0% in 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. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their position. 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. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Lumentum Price Performance

LITE stock opened at $693.24 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52-week low of $101.61 and a 52-week high of $1,085.68. The stock’s 50 day moving average is $825.72 and its two-hundred day moving average is $736.71. The company has a market capitalization of $53.93 billion, a PE ratio of 128.38 and a beta of 1.48.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Morgan Stanley lifted their target price on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Citic Securities upped their price target on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. TD Cowen cut their price objective on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a report on Monday, July 13th. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Mizuho set a $1,100.00 target price on Lumentum in a report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.