Whittier Trust Co. Raises Stock Position in Lumentum Holdings Inc. $LITE

by · The Cerbat Gem

Whittier Trust Co. boosted its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 21,806.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,044 shares of the technology company’s stock after purchasing an additional 73,706 shares during the period. Whittier Trust Co. owned approximately 0.10% of Lumentum worth $57,183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Advisors Asset Management Inc. raised 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 valued at $59,000 after buying an additional 254 shares during the period. NewEdge Advisors LLC grew its position in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after acquiring an additional 6,275 shares during the period. Empowered Funds LLC grew its position in Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after acquiring an additional 680 shares during the period. Hsbc Holdings PLC acquired a new stake in Lumentum during the second quarter worth $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lumentum during the second quarter worth $1,712,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LITE has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Finally, Morgan Stanley increased their target price on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Get Our Latest Research Report on LITE

Insider Buying and Selling

In other news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the transaction, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 over the last 90 days. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

LITE opened at $728.32 on Monday. Lumentum Holdings Inc. has a 52 week low of $88.93 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The business has a fifty day simple moving average of $892.56 and a 200-day simple moving average of $686.25. The firm has a market cap of $56.66 billion, a P/E ratio of 134.87 and a beta of 1.48.

Lumentum (NASDAQ:LITE – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Lumentum Company Profile

(Free Report)

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.

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