Highland Capital Management LLC Buys Shares of 14,329 Lumentum Holdings Inc. $LITE

Highland Capital Management LLC purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 14,329 shares of the technology company’s stock, valued at approximately $2,331,000.

A number of other institutional investors have also recently made changes to their positions in the stock. PointState Capital LP bought a new stake in shares of Lumentum during the 1st quarter worth $213,503,000. Hood River Capital Management LLC raised its position in Lumentum by 82.1% during the second 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 in the last quarter. Analog Century Management LP purchased a new stake in Lumentum during the first quarter valued at about $60,348,000. Norges Bank bought a new stake in Lumentum during the second quarter worth about $82,983,000. Finally, Broad Peak Investment Advisers Pte Ltd purchased a new position in shares of Lumentum in the 2nd quarter worth about $41,235,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other Lumentum news, insider Yuen Wupen sold 822 shares of the stock in a transaction that occurred 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 owned 95,077 shares in the company, 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 SEC, which can be accessed through the SEC website. Also, Director Isaac Hosojiro Harris sold 7,200 shares of Lumentum stock in a transaction that occurred on 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 completion of the sale, the director owned 9,764 shares in the company, valued at approximately $2,375,776.48. This represents a 42.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,612 shares of company stock valued at $7,317,398 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Wolfe Research reiterated an “outperform” rating and set a $240.00 price target on shares of Lumentum in a research report on Wednesday, November 5th. Citigroup began coverage on shares of Lumentum in a report on Friday, August 29th. They issued a “buy” rating and a $165.00 price objective for the company. Morgan Stanley upped their price objective on shares of Lumentum from $190.00 to $304.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Finally, Barclays lifted their target price on shares of Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $222.13.

Lumentum Stock Down 1.3%

Shares of NASDAQ LITE opened at $390.77 on Friday. The firm’s fifty day moving average is $278.69 and its 200 day moving average is $177.54. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $401.60. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 2.77. The company has a market cap of $27.71 billion, a price-to-earnings ratio of 262.26 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share 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 business had revenue of $533.80 million during the quarter, compared to analysts’ expectations of $525.10 million. During the same quarter in the prior year, the company posted $0.18 EPS. The firm’s revenue for the quarter was up 58.4% compared to the same quarter last year. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. On average, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

About Lumentum

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.