Altfest L J & Co. Inc. Invests $606,000 in Lumentum Holdings Inc. $LITE

Altfest L J & Co. Inc. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,723 shares of the technology company’s stock, valued at approximately $606,000.

A number of other hedge funds have also recently added to or reduced their stakes in LITE. PointState Capital LP acquired a new position in Lumentum during the first quarter worth approximately $213,503,000. Hood River Capital Management LLC increased its holdings 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 acquiring an additional 994,551 shares during the period. Norges Bank acquired a new position in shares of Lumentum in the 2nd quarter valued at $82,983,000. Broad Peak Investment Advisers Pte Ltd purchased a new stake in Lumentum in the 2nd quarter valued at $41,235,000. Finally, William Blair Investment Management LLC acquired a new stake in Lumentum during the 2nd quarter worth $34,193,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, Director Julia Suzanne Johnson sold 10,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the transaction, the director directly owned 12,037 shares of the company’s stock, valued at approximately $3,254,684.43. This trade 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, Director Isaac Hosojiro Harris sold 7,200 shares of the business’s 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 sale, the director directly owned 9,764 shares in the company, valued at $2,375,776.48. This trade represents a 42.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,612 shares of company stock valued at $7,317,398 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

Analyst Ratings Changes

LITE has been the topic of a number of recent research reports. Stifel Nicolaus set a $220.00 price objective on shares of Lumentum in a research note on Wednesday, November 5th. Raymond James Financial cut Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target on the stock. in a research report on Friday, October 31st. Barclays increased their price objective on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Mizuho boosted their target price on Lumentum to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Finally, Wall Street Zen downgraded Lumentum from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.13.

Lumentum Trading Up 4.8%

Shares of LITE stock opened at $386.11 on Friday. The business’s fifty day moving average price is $299.44 and its 200 day moving average price is $188.31. The firm has a market capitalization of $27.38 billion, a PE ratio of 259.14 and a beta of 1.51. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $401.60.

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