Praxis Investment Management Inc. Acquires Shares of 1,890 Lumentum Holdings Inc. $LITE

Praxis Investment Management Inc. purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,890 shares of the technology company’s stock, valued at approximately $308,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PointState Capital LP acquired a new position in Lumentum during the first quarter valued at approximately $213,503,000. Hood River Capital Management LLC increased its stake in shares of Lumentum by 82.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares during the last quarter. Analog Century Management LP acquired a new position in shares of Lumentum during the 1st quarter worth $60,348,000. Norges Bank acquired a new position in shares of Lumentum during the 2nd quarter worth $82,983,000. Finally, Channing Capital Management LLC bought a new stake in shares of Lumentum during the 1st quarter worth $36,715,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In other news, Director Julia Suzanne Johnson sold 10,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the sale, the director owned 12,037 shares of the company’s stock, valued at approximately $3,254,684.43. This represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew Joseph Sepe sold 4,232 shares of Lumentum stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $239.63, for a total value of $1,014,114.16. Following the completion of the transaction, the chief accounting officer directly owned 43,544 shares in the company, valued at approximately $10,434,448.72. This represents a 8.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,612 shares of company stock worth $7,317,398. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have commented on LITE. Rosenblatt Securities boosted their target price on Lumentum to $380.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial cut shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price objective for the company. in a research report on Friday, October 31st. Wall Street Zen downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Stifel Nicolaus set a $220.00 target price on shares of Lumentum in a research note on Wednesday, November 5th. Finally, Morgan Stanley reiterated a “cautious” rating and set a $190.00 price target on shares of Lumentum in a report on Wednesday, November 5th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Lumentum Trading Up 3.2%

LITE opened at $334.69 on Tuesday. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $376.53. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market capitalization of $23.73 billion, a price-to-earnings ratio of 224.63 and a beta of 1.52. The company’s 50 day moving average price is $241.16 and its two-hundred day moving average price is $160.63.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The firm had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. During the same quarter last year, the firm earned $0.18 earnings per share. 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, research analysts predict 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.