Corton Capital Inc. Takes $272,000 Position in Lumentum Holdings Inc. $LITE

Corton Capital Inc. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,860 shares of the technology company’s stock, valued at approximately $272,000.

Several other hedge funds have also recently made changes to their positions in LITE. FNY Investment Advisers LLC acquired a new stake in Lumentum during the 2nd quarter worth about $38,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Lumentum during the 1st quarter valued at about $25,000. SVB Wealth LLC acquired a new stake in shares of Lumentum during the 1st quarter valued at about $40,000. Hantz Financial Services Inc. grew its position in shares of Lumentum by 224.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after acquiring an additional 487 shares during the period. Finally, Family Legacy Financial Solutions LLC acquired a new stake in shares of Lumentum during the 2nd quarter valued at about $76,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Jae Kim sold 4,507 shares of Lumentum stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the sale, the senior vice president directly owned 33,465 shares of the company’s stock, valued at approximately $3,911,389.20. The trade was a 11.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuen Wupen sold 3,281 shares of Lumentum stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $124.86, for a total transaction of $409,665.66. Following the sale, the insider directly owned 101,273 shares of the company’s stock, valued at approximately $12,644,946.78. This trade represents a 3.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 18,439 shares of company stock valued at $2,206,997 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wall Street Zen cut Lumentum from a “buy” rating to a “hold” rating in a research report on Saturday. KGI Securities initiated coverage on shares of Lumentum in a research note on Monday, August 18th. They issued an “outperform” rating on the stock. Stifel Nicolaus raised their price target on shares of Lumentum from $100.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, August 13th. Susquehanna raised their price target on shares of Lumentum from $140.00 to $190.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. Finally, Raymond James Financial lowered shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target on the stock. in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Lumentum Stock Up 0.7%

Lumentum stock opened at $201.55 on Monday. The firm has a 50 day moving average price of $160.64 and a 200 day moving average price of $113.37. The company has a market capitalization of $14.29 billion, a PE ratio of 876.30 and a beta of 1.42. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $214.50.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company’s quarterly revenue was up 55.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.