Lumentum Holdings Inc. $LITE Stock: Kestra Private Wealth Services LLC Grows Position

Kestra Private Wealth Services LLC grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 231.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,244 shares of the technology company’s stock after buying an additional 2,965 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Lumentum were worth $4,122,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Jupiter Topco LLC purchased a new position in shares of Lumentum in the 2nd quarter valued at $1,621,396,000. Amundi lifted its holdings in shares of Lumentum by 188.7% during the 2nd quarter. Amundi now owns 658,427 shares of the technology company’s stock valued at $564,970,000 after acquiring an additional 430,355 shares in the last quarter. WT Asset Management Ltd purchased a new stake in Lumentum during the 2nd quarter worth $494,688,000. Janus Henderson Group PLC boosted its position in Lumentum by 163.2% during the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock worth $398,590,000 after purchasing an additional 351,676 shares during the period. Finally, Legal & General Group Plc purchased a new stake in Lumentum during the 2nd quarter worth $376,539,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Transactions at Lumentum

In other news, insider Vincent Retort sold 38,663 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $852.59, for a total transaction of $32,963,687.17. Following the completion of the sale, the insider directly owned 78,440 shares in the company, valued at $66,877,159.60. This trade represents a 33.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of Lumentum stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the sale, the chief executive officer directly owned 186,951 shares in the company, valued at approximately $179,222,445.66. The trade was a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 94,496 shares of company stock worth $85,978,498 over the last three months. Insiders own 0.28% of the company’s stock.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: The proposed Marvell acquisition could combine complementary technologies and support revenue growth and better gross margins over time. Marvell’s Deal to Acquire Lumentum Could Be a Game Changer for the Stock
• Neutral Sentiment: The deal is an all-stock transaction, with Lumentum holders set to receive 4.5 Marvell shares per Lumentum share. That structure means the value of the consideration can fluctuate with Marvell’s stock. Lumentum declines, continues retreat after all-stock Marvell deal
• Negative Sentiment: The immediate pressure appears largely sector-driven: AI optical stocks fell for a second session, with selling persisting even as companies in the group reported strong results. One report said Lumentum’s decline had no clear company-specific catalyst. AI optical stocks slide Lumentum Drops in a Single Session With No Clear Catalyst
• Negative Sentiment: Several firms issued more cautious views: Rosenblatt lowered expectations, TD Cowen published a pessimistic forecast, and B. Riley downgraded its rating. Rosenblatt Securities Lowers Expectations TD Cowen Issues Pessimistic Forecast B. Riley Lowers Lumentum Rating
• Negative Sentiment: A law firm is investigating the proposed Marvell deal’s price and process, adding another source of transaction uncertainty. Investor alert on proposed sale investigation

Lumentum Trading Down 18.7%

NASDAQ LITE opened at $509.70 on Friday. The stock has a market cap of $46.23 billion, a P/E ratio of -6.47 and a beta of 1.64. The company’s fifty day simple moving average is $902.48 and its 200-day simple moving average is $800.69. The company has a current ratio of 1.61, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52 week low of $215.35 and a 52 week high of $1,143.00.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, beating analysts’ consensus estimates of $4.22 by $0.35. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. The business’s revenue was up 136.5% on a year-over-year basis. During the same period last year, the business earned $1.10 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 19.80 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LITE. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, October 12th. Stonex Financial raised Lumentum to a “strong-buy” rating in a research report on Monday, October 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Lumentum in a research report on Monday, August 31st. They issued a “buy” rating and a $1,200.00 target price for the company. JPMorgan Chase & Co. increased their target price on Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research note on Wednesday, August 12th. Finally, Susquehanna dropped their target price on Lumentum from $1,100.00 to $950.00 and set a “positive” rating on the stock in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and an average target price of $1,081.61.

Lumentum Company Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.