King Luther Capital Management Corp Sells 39,376 Shares of Lumentum Holdings Inc. $LITE

Key Points

• King Luther Capital Management reduced its Lumentum stake by 38.3% in the fourth quarter, selling 39,376 shares and leaving it with 63,415 shares worth about $23.4 million.
• Lumentum beat earnings expectations in its latest quarter, reporting $2.37 EPS versus $2.27 expected, while revenue jumped 90.1% year over year to $808.4 million.
• Analysts remain bullish on the stock, with a consensus rating of “Moderate Buy” and an average target price of $1,012.43 after several firms raised their price targets.

King Luther Capital Management Corp cut its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 38.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,415 shares of the technology company's stock after selling 39,376 shares during the period. King Luther Capital Management Corp owned about 0.09% of Lumentum worth $23,374,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of LITE. EverSource Wealth Advisors LLC raised its position in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock valued at $27,000 after purchasing an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum during the 4th quarter valued at $28,000. Danske Bank A S bought a new stake in Lumentum during the 3rd quarter valued at $33,000. Harbour Investments Inc. raised its position in Lumentum by 675.0% during the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock valued at $34,000 after purchasing an additional 81 shares in the last quarter. Finally, Chesapeake Asset Management LLC bought a new stake in Lumentum during the 4th quarter valued at $37,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Down 0.9%

Shares of LITE stock opened at $902.31 on Thursday. Lumentum Holdings Inc. has a 1-year low of $71.04 and a 1-year high of $1,085.68. The stock's fifty day moving average price is $855.10 and its 200 day moving average price is $577.35. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The company has a market cap of $70.20 billion, a price-to-earnings ratio of 167.09 and a beta of 1.53.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its 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 for the quarter, compared to the consensus estimate of $810.21 million. During the same period in the previous year, the business earned $0.57 EPS. The firm's revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of research analyst reports. BNP Paribas Exane lifted their target price on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Northland Securities set a $1,000.00 price target on Lumentum in a report on Monday, April 20th. Bank of America lifted their price target on Lumentum to $520.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. Citic Securities lifted their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price target on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,012.43.

Insider Activity

In related news, insider Yuen Wupen sold 3,210 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through 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, insider Vincent Retort sold 3,183 shares of the business'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 $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 41,146 shares of company stock worth $37,667,478 over the last quarter. Company insiders own 0.43% of the company's stock.

Lumentum Company 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.

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.