Sanders Morris Harris LLC Makes New Investment in Lumentum Holdings Inc. $LITE

Sanders Morris Harris LLC purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the third quarter, Holdings Channel reports. The fund purchased 6,233 shares of the technology company’s stock, valued at approximately $1,014,000.

Other large investors have also recently bought and sold shares of the company. Leeward Investments LLC MA lifted its position in shares of Lumentum by 14.8% in the second quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock worth $49,092,000 after buying an additional 66,541 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Lumentum by 1.9% during the 2nd quarter. Schroder Investment Management Group now owns 881,813 shares of the technology company’s stock valued at $83,825,000 after acquiring an additional 16,200 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake in shares of Lumentum by 45.7% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 10,200 shares of the technology company’s stock valued at $966,000 after acquiring an additional 3,200 shares in the last quarter. FORA Capital LLC acquired a new stake in Lumentum in the 1st quarter worth approximately $642,000. Finally, Corton Capital Inc. bought a new stake in Lumentum during the second quarter worth approximately $272,000. 94.05% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $145.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Stifel Nicolaus set a $220.00 price objective on Lumentum in a research report on Wednesday, November 5th. Wolfe Research reaffirmed an “outperform” rating and issued a $240.00 target price on shares of Lumentum in a report on Wednesday, November 5th. Wall Street Zen lowered Lumentum from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Finally, Barclays increased their price objective on Lumentum from $165.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $215.00.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 822 shares of Lumentum stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $258.96, for a total value of $212,865.12. Following the completion of the sale, the insider directly owned 95,077 shares of the company’s stock, valued at approximately $24,621,139.92. This trade represents a 0.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Isaac Hosojiro Harris sold 7,200 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $243.32, for a total value of $1,751,904.00. Following the sale, the director directly owned 9,764 shares of the company’s stock, valued at $2,375,776.48. This represents a 42.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,612 shares of company stock valued at $7,317,398 over the last quarter. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $316.15 on Wednesday. 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 business’s fifty day moving average price is $244.34 and its two-hundred day moving average price is $162.34. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $376.53. The stock has a market capitalization of $22.42 billion, a price-to-earnings ratio of 212.18 and a beta of 1.53.

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