Portfolio Design Labs LLC Buys Shares of 654 Lumentum Holdings Inc. $LITE

Portfolio Design Labs LLC bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 654 shares of the technology company’s stock, valued at approximately $561,000.

A number of other large investors have also made changes to their positions in LITE. Advisors Capital Management LLC purchased a new stake in shares of Lumentum during the 2nd quarter valued at about $284,000. Tejara Capital Ltd purchased a new position in shares of Lumentum in the second quarter worth approximately $240,000. PCM Encore LLC purchased a new position in shares of Lumentum in the second quarter worth approximately $591,000. Vise Technologies Inc. bought a new stake in Lumentum during the second quarter valued at approximately $2,199,000. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Lumentum during the second quarter valued at approximately $7,926,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $879.28 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. Lumentum Holdings Inc. has a 1-year low of $115.21 and a 1-year high of $1,085.68. The company has a market capitalization of $78.87 billion, a P/E ratio of -10.70 and a beta of 1.50. The firm’s 50 day simple moving average is $810.86 and its two-hundred day simple moving average is $789.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company’s revenue was up 109.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts expect that Lumentum Holdings Inc. will post 16.95 EPS for the current fiscal year.

Insider Activity at Lumentum

In related news, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total value of $2,894,715.69. Following the completion of the transaction, the insider owned 114,495 shares of the company’s stock, valued at approximately $104,125,187.85. This represents a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the sale, the director owned 8,400 shares of the company’s stock, valued at $7,224,000. The trade was a 32.26% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 9,965 shares of company stock worth $8,993,110. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America reduced their target price on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a report on Wednesday, August 12th. Weiss Ratings downgraded shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research report on Wednesday. Barclays upped their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. raised their target price on Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a report on Wednesday, August 12th. Finally, BNP Paribas Exane lifted their target price on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Thirteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,044.67.

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.