12,582 Shares in Lumentum Holdings Inc. $LITE Purchased by Bamco Inc. NY

Bamco Inc. NY acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 12,582 shares of the technology company’s stock, valued at approximately $2,047,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LITE. EverSource Wealth Advisors LLC lifted its stake in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the last quarter. Steigerwald Gordon & Koch Inc. purchased a new position in shares of Lumentum in the 3rd quarter worth approximately $49,000. Cullen Frost Bankers Inc. bought a new position in shares of Lumentum during the 3rd quarter valued at approximately $49,000. Huntington National Bank increased its position in shares of Lumentum by 4,125.0% during the 3rd quarter. Huntington National Bank now owns 338 shares of the technology company’s stock valued at $55,000 after purchasing an additional 330 shares during the last quarter. Finally, Rossby Financial LCC purchased a new stake in Lumentum during the 3rd quarter valued at $77,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 5,302 shares of Lumentum stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the sale, the chief financial officer directly owned 66,287 shares in the company, valued at $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Vincent Retort sold 45,026 shares of the company’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the sale, the insider directly owned 102,455 shares of the company’s stock, valued at approximately $60,583,690.60. This trade represents a 30.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 65,775 shares of company stock worth $38,851,343. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on LITE. Barclays raised their price target on Lumentum to $750.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 3rd. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Morgan Stanley raised their target price on shares of Lumentum to $520.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Bank of America lifted their price target on shares of Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Finally, Stifel Nicolaus upped their price target on shares of Lumentum to $800.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $550.38.

Lumentum Stock Up 0.4%

Shares of NASDAQ:LITE opened at $624.84 on Tuesday. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $783.80. The stock has a market cap of $44.61 billion, a P/E ratio of 191.67 and a beta of 1.38. The business’s 50 day moving average is $515.37 and its 200 day moving average is $335.29. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The business had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. During the same period in the previous year, the company posted $0.42 EPS. Lumentum’s revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Lumentum Profile

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.