SteelPeak Wealth LLC Takes Position in Lumentum Holdings Inc. $LITE

SteelPeak Wealth LLC bought a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 7,185 shares of the technology company’s stock, valued at approximately $2,648,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LITE. Advisors Asset Management Inc. raised its stake in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the period. NewEdge Advisors LLC increased its holdings in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after purchasing an additional 6,275 shares in the last quarter. Empowered Funds LLC increased its holdings in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after purchasing an additional 680 shares in the last quarter. Prudential Financial Inc. raised its position in Lumentum by 21.3% in the second quarter. Prudential Financial Inc. now owns 7,327 shares of the technology company’s stock valued at $697,000 after purchasing an additional 1,288 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its position in Lumentum by 53.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,682 shares of the technology company’s stock valued at $540,000 after purchasing an additional 1,986 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LITE shares. Rosenblatt Securities restated a “buy” rating and issued a $900.00 price target on shares of Lumentum in a report on Wednesday, March 18th. Bank of America lifted their target price on Lumentum to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Barclays raised their target price on shares of Lumentum to $750.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 3rd. Needham & Company LLC boosted their price target on shares of Lumentum to $850.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Finally, B. Riley Financial raised Lumentum from a “neutral” rating to a “buy” rating and lifted their target price for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $575.06.

Insiders Place Their Bets

In other news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were 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 of the company’s stock, valued at $45,812,934.31. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vincent Retort sold 45,026 shares of the stock in a transaction that occurred on 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 owned 102,455 shares of the company’s stock, valued at approximately $60,583,690.60. The trade was a 30.53% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 65,775 shares of company stock worth $38,851,343. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $826.88 on Friday. 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 Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $827.56. The stock has a market capitalization of $59.04 billion, a price-to-earnings ratio of 253.64 and a beta of 1.38. The stock’s fifty day simple moving average is $622.91 and its 200 day simple moving average is $391.32.

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