Mechanics Bank Trust Department Acquires 871 Shares of Lumentum Holdings Inc. $LITE

13 Oct 2026, 20:08 by Teresa Graham · The Cerbat Gem

Mechanics Bank Trust Department bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 871 shares of the technology company’s stock, valued at approximately $846,000.

Several other institutional investors have also modified their holdings of LITE. Jupiter Topco LLC acquired a new position in shares of Lumentum during the 2nd quarter worth about $1,621,396,000. Amundi boosted its holdings in Lumentum by 188.7% in the 2nd quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after buying an additional 430,355 shares during the last quarter. WT Asset Management Ltd acquired a new stake in Lumentum in the 2nd quarter worth about $494,688,000. Janus Henderson Group PLC boosted its holdings in Lumentum by 163.2% in the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock worth $398,590,000 after buying an additional 351,676 shares during the last quarter. Finally, Legal & General Group Plc purchased a new stake in Lumentum during the 2nd quarter worth approximately $376,539,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on LITE. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 target price on shares of Lumentum in a research report on Monday, October 5th. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Citigroup boosted their price target on Lumentum from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Monday, September 28th. Sanford C. Bernstein started coverage on Lumentum in a research note on Wednesday, September 30th. They issued an “outperform” rating and a $1,220.00 price objective for the company. Finally, Morgan Stanley raised their price objective on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $1,078.75.

Read Our Latest Analysis on Lumentum

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 24,542 shares of Lumentum stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer owned 75,074 shares in the company, valued at approximately $78,715,089. This trade represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the completion of the sale, the insider owned 108,320 shares of the company’s stock, valued at approximately $102,362,400. The trade was a 0.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 94,496 shares of company stock valued at $85,978,498. Insiders own 0.28% of the company’s stock.

Lumentum Price Performance

NASDAQ LITE traded down $7.42 during trading hours on Tuesday, hitting $987.99. 3,981,192 shares of the company’s stock traded hands, compared to its average volume of 5,490,441. Lumentum Holdings Inc. has a 52-week low of $152.54 and a 52-week high of $1,143.00. The company has a market capitalization of $89.49 billion, a PE ratio of -12.02 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The firm’s 50-day moving average is $927.99 and its 200-day moving average is $872.31.

Lumentum (NASDAQ:LITE – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the firm earned $0.88 EPS. Lumentum’s quarterly revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 19.78 EPS for the current fiscal year.

Key Headlines Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

Positive Sentiment: Lumentum, Astera Labs, and Corning demonstrated a 1060 nm VCSEL-based PCIe-over-optics platform for AI rack-scale connectivity at the OCP Global Summit, reinforcing Lumentum’s role in next-generation AI infrastructure. Lumentum, Astera Labs, and Corning Demonstration
Positive Sentiment: Recent commentary highlights a backlog extending into early 2029, with demand reportedly exceeding available supply. Supporters argue this visibility and an anticipated free-cash-flow inflection could justify the stock’s premium valuation. Lumentum’s Massive Backlog and Demand
Positive Sentiment: Zacks included Lumentum among its preferred AI stocks on the pullback and identified it as a highly ranked momentum stock, reflecting continued bullish sentiment from some analysts. Three Best AI Stocks to Buy on the Pullback
Neutral Sentiment: Analyst opinions are mixed, suggesting that strong AI-related growth prospects are increasingly balanced against valuation and execution risks. Mixed Analyst Opinions on Lumentum
Negative Sentiment: Lumentum shares have fallen sharply alongside Applied Optoelectronics and Coherent in a sector-wide selloff. Investors are questioning whether AI infrastructure spending can remain strong enough to support sharply elevated valuations after substantial year-to-date gains. Lumentum Falls as Optics Selloff Hits the Sector
Negative Sentiment: The stock’s rapid appreciation has prompted profit-taking concerns, while questions about long-term AI optics demand have overshadowed its fully booked capacity and near-term order visibility. Lumentum Down After AI Optics Demand Questions

Lumentum Profile

(Free Report)

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.