Miracle Mile Advisors LLC Invests $285,000 in Lumentum Holdings Inc. $LITE

Miracle Mile Advisors LLC purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,753 shares of the technology company’s stock, valued at approximately $285,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Investment Advisers LLC bought a new position in Lumentum in the 2nd quarter valued at about $38,000. MAI Capital Management boosted its position in shares of Lumentum by 27.0% during the 2nd quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after acquiring an additional 96 shares in the last quarter. Advisors Asset Management Inc. boosted its position in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after acquiring an additional 254 shares in the last quarter. Hantz Financial Services Inc. increased its stake in Lumentum by 224.4% in the second quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after acquiring an additional 487 shares during the last quarter. Finally, Allworth Financial LP raised its position in Lumentum by 121.3% during the second quarter. Allworth Financial LP now owns 737 shares of the technology company’s stock valued at $70,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, Director Pamela Fletcher sold 3,421 shares of Lumentum stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $273.53, for a total transaction of $935,746.13. Following the completion of the transaction, the director owned 10,561 shares of the company’s stock, valued at $2,888,750.33. This trade represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Matthew Joseph Sepe sold 4,232 shares of Lumentum stock in a transaction dated 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 of the company’s stock, valued at approximately $10,434,448.72. This trade represents a 8.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 28,612 shares of company stock valued at $7,317,398. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on LITE shares. B. Riley lifted their price target on Lumentum from $83.00 to $147.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Morgan Stanley raised their price objective on Lumentum from $190.00 to $304.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Mizuho lifted their target price on Lumentum to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Weiss Ratings reissued a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 29th. Finally, Northland Securities set a $350.00 price target on shares of Lumentum in a research note on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $222.13.

Lumentum Price Performance

Lumentum stock opened at $357.05 on Tuesday. The stock has a 50-day moving average price of $302.70 and a two-hundred day moving average price of $190.90. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $401.60. The company has a market capitalization of $25.31 billion, a PE ratio of 239.63 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 2.77.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data 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 return on equity of 4.62% and a net margin of 6.11%.The company had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s revenue was up 58.4% compared to the same quarter last year. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Analysts expect that Lumentum Holdings Inc. will post 0.03 EPS 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.