DAVENPORT & Co LLC Purchases Shares of 1,140 Lumentum Holdings Inc. $LITE

DAVENPORT & Co LLC acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 1,140 shares of the technology company’s stock, valued at approximately $420,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Chesapeake Asset Management LLC bought a new position in shares of Lumentum in the fourth quarter valued at approximately $37,000. EverSource Wealth Advisors LLC grew its holdings in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after buying an additional 131 shares in the last quarter. Danske Bank A S bought a new stake in Lumentum during the third quarter worth $33,000. MassMutual Private Wealth & Trust FSB raised its position in Lumentum by 58.9% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 205 shares of the technology company’s stock valued at $76,000 after buying an additional 76 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. purchased a new stake in Lumentum in the 3rd quarter valued at $49,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,441 shares of Lumentum stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total value of $1,878,028.98. Following the sale, the insider owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. The trade was a 3.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the completion of the transaction, the director owned 2,057 shares in the company, valued at approximately $1,228,625.53. The trade was a 66.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 65,775 shares of company stock worth $38,851,343. Insiders own 0.43% of the company’s stock.

Lumentum Stock Up 7.3%

Shares of NASDAQ:LITE opened at $702.76 on Wednesday. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $808.80. The company has a market capitalization of $50.18 billion, a PE ratio of 215.57 and a beta of 1.38. The business has a fifty day moving average price of $595.67 and a two-hundred day moving average price of $379.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on LITE shares. TD Cowen assumed coverage on shares of Lumentum in a report on Thursday, March 12th. They set a “hold” rating and a $675.00 price objective on the stock. Bank of America increased their target price on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Mizuho raised their price target on shares of Lumentum to $645.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. UBS Group boosted their price target on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Lumentum to $565.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $575.06.

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.