PNC Financial Services Group Inc. Raises Stock Position in Lumentum Holdings Inc. $LITE

PNC Financial Services Group Inc. grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 87.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,759 shares of the technology company’s stock after buying an additional 4,539 shares during the period. PNC Financial Services Group Inc.’s holdings in Lumentum were worth $928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Envestnet Asset Management Inc. lifted its position in Lumentum by 27.0% in the first quarter. Envestnet Asset Management Inc. now owns 12,837 shares of the technology company’s stock valued at $800,000 after acquiring an additional 2,729 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in shares of Lumentum in the 1st quarter valued at about $3,411,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Lumentum in the 1st quarter valued at about $1,236,000. Cetera Investment Advisers boosted its position in shares of Lumentum by 91.2% in the 1st quarter. Cetera Investment Advisers now owns 14,681 shares of the technology company’s stock valued at $915,000 after purchasing an additional 7,002 shares during the period. Finally, Neo Ivy Capital Management purchased a new position in Lumentum during the 1st quarter worth approximately $1,560,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lumentum news, Director Isaac Hosojiro Harris sold 7,200 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the sale, the director directly owned 9,764 shares in the company, valued at approximately $2,375,776.48. The trade was a 42.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuen Wupen sold 822 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $258.96, for a total transaction of $212,865.12. Following the transaction, the insider directly owned 95,077 shares in the company, valued at approximately $24,621,139.92. This trade represents a 0.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,701 shares of company stock valued at $8,432,651 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Up 9.6%

LITE stock opened at $255.59 on Friday. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $282.66. The company has a fifty day moving average of $189.56 and a 200-day moving average of $131.42. The stock has a market capitalization of $18.12 billion, a PE ratio of 171.54 and a beta of 1.48. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The business had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. During the same period in the prior year, the business posted $0.18 EPS. The company’s revenue for the quarter was up 58.4% on a year-over-year basis. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LITE. Needham & Company LLC increased their price objective on Lumentum from $180.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, November 5th. Citigroup initiated coverage on shares of Lumentum in a research report on Friday, August 29th. They issued a “buy” rating and a $165.00 price target for the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Lumentum in a research report on Wednesday. JPMorgan Chase & Co. upped their target price on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, B. Riley raised their price target on Lumentum from $83.00 to $147.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $196.88.

Lumentum Company 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.