Mindset Wealth Management LLC Acquires Shares of 1,635 Lumentum Holdings Inc. $LITE

Mindset Wealth Management LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,635 shares of the technology company’s stock, valued at approximately $266,000.

Other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the last quarter. MAI Capital Management increased its stake in Lumentum by 27.0% during the 2nd quarter. MAI Capital Management now owns 452 shares of the technology company’s stock valued at $43,000 after purchasing an additional 96 shares in the last quarter. Steigerwald Gordon & Koch Inc. bought a new stake in Lumentum during the 3rd quarter valued at about $49,000. Cullen Frost Bankers Inc. purchased a new position in Lumentum in the third quarter worth about $49,000. Finally, Huntington National Bank lifted its stake in shares of Lumentum by 4,125.0% in the third quarter. Huntington National Bank now owns 338 shares of the technology company’s stock worth $55,000 after buying an additional 330 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Up 0.4%

Shares of Lumentum stock opened at $624.84 on Tuesday. Lumentum Holdings Inc. has a twelve month low of $45.65 and a twelve month high of $783.80. 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 company’s 50 day moving average is $515.37 and its 200 day moving average is $335.29. The company has a market cap of $44.61 billion, a price-to-earnings ratio of 191.67 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last posted its 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 during the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The firm’s revenue was up 65.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

LITE has been the topic of a number of recent analyst reports. Susquehanna increased their price target on shares of Lumentum to $550.00 and gave the company a “positive” rating in a report on Wednesday, February 4th. Northland Securities set a $350.00 price objective on Lumentum in a research report on Wednesday, December 3rd. Rosenblatt Securities increased their target price on Lumentum to $580.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their target price on Lumentum to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Finally, Stifel Nicolaus boosted their price target on Lumentum to $800.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.38.

Insider Transactions at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,441 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the transaction, the insider directly owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the sale, the director owned 2,057 shares of the company’s stock, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is currently owned by insiders.

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.