Concentric Capital Strategies LP Has $5.96 Million Stock Holdings in Lumentum Holdings Inc. $LITE

Key Points

• Concentric Capital Strategies LP cut its Lumentum stake by 71.4% in the fourth quarter, selling 40,378 shares and ending with 16,175 shares worth about $5.96 million.
• Several analysts turned more bullish on Lumentum (NASDAQ:LITE), with multiple firms raising price targets and the consensus rating sitting at Moderate Buy with an average target of $1,021.95.
• Lumentum reported better-than-expected quarterly EPS of $2.37 and revenue up 90.1% year over year, though insiders have also been selling shares recently, including director transactions totaling millions of dollars.

Concentric Capital Strategies LP decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 71.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 16,175 shares of the technology company's stock after selling 40,378 shares during the period. Concentric Capital Strategies LP's holdings in Lumentum were worth $5,962,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after acquiring an additional 114,714 shares during the period. Andar Capital Management HK Ltd bought a new stake in Lumentum in the fourth quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Lumentum in the fourth quarter valued at approximately $6,755,000. Headwater Capital Co Ltd acquired a new stake in Lumentum in the third quarter worth $20,339,000. Finally, Maxi Investments CY Ltd bought a new position in shares of Lumentum during the fourth quarter worth $2,212,000. Institutional investors and hedge funds own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LITE. Stifel Nicolaus upped their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on Lumentum in a research report on Wednesday, May 6th. Loop Capital raised their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Finally, Rosenblatt Securities upped their price target on shares of Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. One research 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $1,021.95.

Lumentum Trading Down 0.6%

NASDAQ:LITE opened at $869.98 on Thursday. The company has a market cap of $67.68 billion, a P/E ratio of 161.11 and a beta of 1.47. Lumentum Holdings Inc. has a twelve month low of $86.57 and a twelve month high of $1,085.68. The business has a 50 day moving average price of $903.17 and a two-hundred day moving average price of $644.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

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

Insider Transactions at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the sale, the director directly owned 8,400 shares of the company's stock, valued at approximately $7,224,000. The trade was a 32.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Profile

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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