Lumentum Holdings Inc. $LITE Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC significantly reduced its stake in Lumentum Holdings Inc. by 58.8%, selling 25,121 shares and retaining 17,636 shares worth $1,099,000.
• During the same period, several other hedge funds made adjustments to their positions in Lumentum, including California State Teachers Retirement System which increased its holdings by 0.4%.
• Analysts have varied opinions on Lumentum, with Barclays raising its target price to $135.00 while others downgraded their rating, resulting in a consensus average rating of Moderate Buy.

Jump Financial LLC cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 58.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,636 shares of the technology company's stock after selling 25,121 shares during the quarter. Jump Financial LLC's holdings in Lumentum were worth $1,099,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Lumentum by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock valued at $463,198,000 after acquiring an additional 47,811 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Lumentum in the first quarter valued at approximately $260,000. Crestline Management LP purchased a new stake in shares of Lumentum in the fourth quarter valued at approximately $4,435,000. UMB Bank n.a. increased its position in shares of Lumentum by 132.9% in the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after buying an additional 448 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Lumentum by 1.1% in the first quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock valued at $9,922,000 after buying an additional 1,660 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 3,282 shares of the company's stock in a transaction on Monday, August 25th. The stock was sold at an average price of $119.25, for a total value of $391,378.50. Following the transaction, the insider owned 104,554 shares of the company's stock, valued at $12,468,064.50. This represents a 3.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total value of $2,499,090.00. Following the completion of the transaction, the insider directly owned 121,747 shares in the company, valued at approximately $13,392,170. This trade represents a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,687 shares of company stock worth $8,398,352. Corporate insiders own 0.19% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on LITE. JPMorgan Chase & Co. boosted their price objective on Lumentum from $123.00 to $145.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen cut Lumentum from a "buy" rating to a "hold" rating in a research report on Saturday. Barclays boosted their price objective on Lumentum from $75.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Bank of America upgraded Lumentum from an "underperform" rating to a "neutral" rating and boosted their price objective for the company from $78.00 to $135.00 in a research report on Wednesday, August 13th. Finally, Northland Securities set a $80.00 price objective on Lumentum in a research report on Wednesday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $125.86.

Lumentum Trading Up 0.1%

NASDAQ:LITE traded up $0.16 during trading hours on Wednesday, hitting $132.71. The company had a trading volume of 2,855,153 shares, compared to its average volume of 2,628,776. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. The company has a 50-day moving average of $107.86 and a 200 day moving average of $82.28. The company has a market cap of $9.28 billion, a P/E ratio of 576.20 and a beta of 1.42. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $137.10.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.09. The company had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The firm's quarterly revenue was up 55.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.06 EPS. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.