Kovitz Investment Group Partners LLC Shows Confidence with Increased Stake in Lumentum Holdings Inc.

August 26, 2023

Kovitz Investment Group Partners LLC Increases Stake in Lumentum Holdings Inc.

&Kovitz Investment Group Partners LLC recently announced that it has raised its stake in Lumentum Holdings Inc. The investment firm disclosed its upped holdings in the technology company through a Form 13F filing with the Securities and Exchange Commission (SEC). According to the filing, Kovitz Investment Group Partners LLC acquired an additional 3,499 shares of Lumentum during the first quarter, translating to an 8.0% increase. As of its most recent filing with the SEC, the fund now owns 47,100 shares of Lumentum’s stock, valued at approximately $2,544,000.

Lumentum Holdings Inc., headquartered in the Americas, specializes in manufacturing and distributing optical and photonic products across various regions. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment focuses on developing and providing components, modules, and subsystems that facilitate high-capacity transmission and transport of video, audio, and data via fiber optic cables. Its product offerings include tunable transponders, transceivers, transmitter modules, tunable lasers and receivers.

Furthermore, Lumentum’s OpComms segment encompasses transport products such as reconfigurable optical add/drop multiplexers, amplifiers, and optical channel monitors. Additionally, it provides various essential components like switches, attenuators (devices used to reduce transmission power), photodetectors (converts light signals into electrical current), gain flattening filters (maintains uniform signal levels), wavelength-division multiplexing filters (combining multiple data streams), arrayed waveguide gratings (used for light manipulation), multiplex/de-multiplexers (merging or separating differing wavelengths), as well as integrated passive modules.

In other news, Lumentum’s Chief Financial Officer (CFO), Wajid Ali, recently sold 6,872 shares of the company’s stock in a transaction that took place on June 20th. The stock was sold at an average price of $60.50 per share, resulting in a total transaction value of $415,756.00. Following this sale, Ali now holds 35,629 shares of Lumentum stock with an estimated value of $2,155,554.50. This transaction was disclosed in accordance with SEC regulations and can be accessed through the provided link. Notably, insiders currently own approximately 0.50% of Lumentum’s outstanding shares.

The increased stake by Kovitz Investment Group Partners LLC signifies their confidence in Lumentum Holdings Inc.’s potential for growth and success. With its diverse range of optical and photonic products serving various industries globally, Lumentum continues to position itself as a leading player in the market.

Reference:
https://sec.report/Document/0000921895-23-003251/

Increased Holdings by Hedge Funds and Institutional Investors in Lumentum Holdings Inc. Raises Interest

Lumentum Holdings Inc., a leading manufacturer of optical and photonic products, has recently seen some interesting changes in the positions held by hedge funds and institutional investors. It appears that several parties have increased their holdings in the company during the fourth quarter of last year.

One such investor, Gibson Wealth Advisors LLC, raised its position in Lumentum by a staggering 6,200.0%. This move resulted in the acquisition of an additional 496 shares, bringing their total ownership to 504 shares worth approximately $31,000. Similarly, Assetmark Inc., Quadrant Capital Group LLC, CWM LLC, and Money Concepts Capital Corp also increased their holdings in Lumentum during the same period.

Assetmark Inc. saw its holdings grow by 35.3%, adding 181 shares to reach a total ownership of 694 shares valued at $36,000. Quadrant Capital Group LLC experienced a 24.1% increase, acquiring an additional 175 shares to reach a total of 901 shares with a value of $47,000. CWM LLC’s holdings grew by an impressive 144.3%, adding 638 shares to reach a total ownership of 1,080 shares worth $56,000. Finally, Money Concepts Capital Corp increased its holdings by a staggering 2,189.6%, acquiring an additional 1,686 shares and taking its total ownership to 1,763 shares worth $92,000.

These significant increases from both individual investors and institutional entities have resulted in them now owning approximately 93.56% of the stock.

When looking at Lumentum’s current market performance on NASDAQ under ticker symbol “LITE,” we see that it opened at a price of $52.12 on Friday – indicating stability over recent trading sessions.

Furthermore, key financial ratios provide insight into Lumentum’s overall liquidity and financial health. The company boasts a quick ratio of 3.74 and a current ratio of 4.38, indicating a strong ability to meet short-term obligations and sustain operational continuity. Additionally, Lumentum has maintained a prudent debt-to-equity ratio of 1.84.

It’s worth noting that Lumentum’s stock price has demonstrated some volatility over the past year. Its 12-month low is $42.00, while its 12-month high is $92.52 – showcasing varied investor sentiment and market fluctuations during this period.

Lumentum Holdings Inc.’s business operations are divided into two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment specializes in manufacturing components, modules, and subsystems that facilitate the transmission and transport of video, audio, and data via high-capacity fiber optic cables.

The product offerings within this segment include tunable transponders, transceivers, and transmitter modules; tunable lasers, receivers, and modulators; transport products such as reconfigurable optical add/drop multiplexers, amplifiers, and optical channel monitors; as well as various components like pumps, switches, attenuators, photodetectors, gain flattening filters, isolators, wavelength-division multiplexing filters…and many more.

In terms of analyst ratings for Lumentum’s stock (LITE), various brokerages have had differing perspectives. For instance, Bank of America downgraded the stock from a “neutral” rating to an “underperform” rating while setting a target price of $50.00.

Similarly, Loop Capital lowered its target price on Lumentum from $78.00 to $55.00 in May last year. On the other hand, JPMorgan Chase & Co., despite decreasing their price objective from $64.00 to $57.00 in August last year…+