1492 Capital Management LLC Sells 8,270 Shares of Lumentum Holdings Inc. $LITE

Key Points

• 1492 Capital Management cut its Lumentum position by 40.7% in the fourth quarter, selling 8,270 shares and leaving it with 12,038 shares worth about $4.44 million.
• Analyst sentiment remains bullish, with several firms raising price targets and Lumentum carrying a consensus rating of “Moderate Buy” and a consensus target of $1,021.95.
• Lumentum is benefiting from AI infrastructure demand, as commentary around Nvidia’s move toward optical interconnects and a broader rally in optical networking stocks has boosted investor interest in the company.

1492 Capital Management LLC decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 40.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 12,038 shares of the technology company's stock after selling 8,270 shares during the quarter. Lumentum accounts for approximately 1.7% of 1492 Capital Management LLC's investment portfolio, making the stock its 22nd biggest holding. 1492 Capital Management LLC's holdings in Lumentum were worth $4,437,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. Allworth Financial LP increased its stake in shares of Lumentum by 6.4% during the 3rd quarter. Allworth Financial LP now owns 784 shares of the technology company's stock worth $128,000 after purchasing an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Lumentum by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company's stock worth $5,208,000 after purchasing an additional 60 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Lumentum by 0.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company's stock worth $2,532,000 after purchasing an additional 64 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Lumentum by 9.6% during the 4th quarter. IFP Advisors Inc now owns 822 shares of the technology company's stock worth $303,000 after purchasing an additional 72 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in shares of Lumentum by 58.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 205 shares of the technology company's stock worth $76,000 after purchasing an additional 76 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Key Headlines Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Northland Securities raised its price target on Lumentum and kept an Outperform rating, reinforcing the bullish case for more upside. Northland Securities adjusts PT on Lumentum
• Positive Sentiment: Market commentary highlighted Nvidia’s shift from copper to optical interconnects in AI data centers, putting Lumentum at the center of a major long-term growth theme. Nvidia optics shift puts Lumentum at center of AI data centers
• Positive Sentiment: Optical networking stocks broadly rallied as investors piled into AI-related infrastructure names, which has helped lift sentiment toward Lumentum alongside peers like Coherent and Corning. Why Coherent and Lumentum stocks jumped on Tuesday
• Neutral Sentiment: One article noted that a director sold 4,000 shares, but the sale was made under a pre-arranged 10b5-1 plan, so it is less likely to be interpreted as a negative fundamental signal. Director Isaac Hosojiro Harris sells 4,000 shares

Wall Street Analysts Forecast Growth

LITE has been the subject of several research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 6th. Citigroup raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Craig Hallum lifted their price target on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. BNP Paribas Exane lifted their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Finally, TD Cowen lifted their target price on shares of Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to data from MarketBeat, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus price target of $1,021.95.

Insider Buying and Selling at Lumentum

In other news, insider Yuen Wupen sold 3,210 shares of the firm's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. This trade represents a 3.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 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. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company's stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 39,844 shares of company stock worth $37,443,107. 0.43% of the stock is owned by company insiders.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $938.00 on Thursday. The company has a 50 day moving average of $875.70 and a 200 day moving average of $600.97. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a twelve month low of $79.50 and a twelve month high of $1,085.68. The firm has a market cap of $72.98 billion, a P/E ratio of 173.70 and a beta of 1.47.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping 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 during the quarter, compared to analysts' expectations of $810.21 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company's revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.49 EPS 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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.