State of Alaska Department of Revenue Acquires 773 Shares of Lumentum Holdings Inc. $LITE

State of Alaska Department of Revenue grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,396 shares of the technology company’s stock after purchasing an additional 773 shares during the quarter. State of Alaska Department of Revenue’s holdings in Lumentum were worth $8,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of LITE. Red Spruce Capital LLC lifted its stake in shares of Lumentum by 0.4% in the 3rd quarter. Red Spruce Capital LLC now owns 3,200 shares of the technology company’s stock valued at $3,108,000 after purchasing an additional 12 shares during the last quarter. CYBER HORNET ETFs LLC boosted its holdings in Lumentum by 7.2% in the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after purchasing an additional 14 shares in the last quarter. Hilltop National Bank increased its position in Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after buying an additional 15 shares during the last quarter. Sachetta LLC increased its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Finally, Kieckhefer Group LLC raised its holdings in Lumentum by 0.8% during the third quarter. Kieckhefer Group LLC now owns 3,191 shares of the technology company’s stock valued at $3,099,000 after buying an additional 25 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Analyst price targets remain above the current share price. A survey of 23 analysts produced an average target of $1,078.75, implying substantial potential upside, while Stifel raised its target from $1,100 to $1,232. These targets indicate that some analysts still expect strong demand for Lumentum’s photonics and optical components. 23 analysts set USD 1,078.75 target for Lumentum stock Stifel raised target for Lumentum stock
• Positive Sentiment: The long-term AI investment case remains intact. Investor commentary highlights Lumentum’s transformation from a cyclical smartphone laser supplier into a key provider of optical technology for AI infrastructure. Its recent earnings growth and stronger order book support the longer-term bullish thesis, although the article does not provide a new near-term catalyst. The Long-Term Investment Case for Lumentum
• Neutral Sentiment: Sector sentiment is deteriorating. Optical suppliers, including Lumentum, Coherent, and Applied Optoelectronics, are falling together as money rotates toward defensive sectors and investors question how quickly AI data-center projects will be funded. This appears to be a valuation and sentiment-driven pullback across the group. Optical Stocks Extend Slide as Money Rotates Into Defensives
• Negative Sentiment: Zacks downgraded LITE from Strong Buy to Hold. The less bullish recommendation is weighing on the stock, particularly after its substantial rally and amid broader concerns about AI infrastructure spending. Zacks downgrades Lumentum to Hold

Insider Activity

In other news, CFO Wajid Ali sold 24,542 shares of the firm’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the sale, the chief financial officer directly owned 75,074 shares of the company’s stock, valued at approximately $78,715,089. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of the firm’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the sale, the chief executive officer directly owned 186,951 shares in the company, valued at approximately $179,222,445.66. This represents a 0.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 94,496 shares of company stock worth $85,978,498. Insiders own 0.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LITE. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday. Stifel Nicolaus upped their price target on Lumentum from $1,100.00 to $1,232.00 and gave the stock a “buy” rating in a research note on Monday, October 5th. Morgan Stanley increased their price objective on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. Raymond James Financial reissued an “outperform” rating and set a $1,036.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Finally, Evercore began coverage on Lumentum in a research note on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 price objective on the stock. Sixteen equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,078.75.

Lumentum Price Performance

Shares of Lumentum stock opened at $869.54 on Friday. The firm has a fifty day simple moving average of $932.80 and a 200-day simple moving average of $876.43. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1-year low of $152.54 and a 1-year high of $1,143.00. The stock has a market capitalization of $78.76 billion, a price-to-earnings ratio of -10.58 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period in the prior year, the firm earned $0.88 EPS. Lumentum’s quarterly revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 19.79 earnings per share for the current year.

Lumentum Company Profile

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.