Lisanti Capital Growth LLC Sells 25,434 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Lisanti Capital Growth LLC cut its Lumentum stake by 66.5% in the fourth quarter, selling 25,434 shares and ending with 12,785 shares worth about $4.7 million.
• Analysts remain broadly bullish on Lumentum, with several raising price targets to as high as $1,300; the stock currently carries an average Moderate Buy rating and a consensus target of $1,012.43.
• Lumentum reported strong quarterly results, beating EPS estimates with $2.37 per share and posting 90.1% year-over-year revenue growth, while also guiding Q4 2026 EPS to $2.85-$3.05.

Lisanti Capital Growth LLC reduced its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 66.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,785 shares of the technology company's stock after selling 25,434 shares during the quarter. Lisanti Capital Growth LLC's holdings in Lumentum were worth $4,712,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings in shares of Lumentum by 363.9% in the third 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 during the last quarter. V Square Quantitative Management LLC acquired a new position in shares of Lumentum in the fourth quarter valued at $28,000. Danske Bank A S acquired a new position in shares of Lumentum in the third quarter valued at $33,000. Chesapeake Asset Management LLC acquired a new position in shares of Lumentum in the fourth quarter valued at $37,000. Finally, BOCHK Asset Management Ltd acquired a new position in shares of Lumentum in the fourth quarter valued at $37,000. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna upped their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a report on Monday, April 20th. Citigroup upped their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. Jefferies Financial Group reiterated a "buy" rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Morgan Stanley upped their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. 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 research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Lumentum has an average rating of "Moderate Buy" and an average price target of $1,012.43.

Lumentum Trading Down 1.8%

Shares of Lumentum stock opened at $946.90 on Friday. The company has a market capitalization of $73.67 billion, a price-to-earnings ratio of 175.35 and a beta of 1.53. 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 12-month low of $71.04 and a 12-month high of $1,085.68. The firm's 50-day moving average price is $837.17 and its two-hundred day moving average price is $560.03.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business's revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Vincent Retort sold 3,183 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares of the company's stock, valued at $58,144,206.45. This trade represents a 3.92% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 41,146 shares of company stock valued at $37,667,478. Company insiders own 0.43% of the company's stock.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Articles argue that Nvidia’s results reinforce the scarcity and importance of AI networking hardware, which could support continued demand for Lumentum’s optical components. Lumentum: Market Is Missing What Nvidia's Q1 Just Confirmed
• Positive Sentiment: Coverage says Lumentum’s AI connectivity portfolio is expanding and hyperscaler demand is driving record revenues and rapid growth in optical connectivity shipments. Lumentum's AI Connectivity Portfolio Expands: Is Growth Durable?
• Positive Sentiment: Analysts and market commentary describe Lumentum’s earnings as confirming an “AI scarcity advantage,” suggesting the company may be well positioned to benefit from tight supply and strong demand. Lumentum's Earnings Confirm AI Scarcity Advantage
• Positive Sentiment: Lumentum’s addition to the Nasdaq-100 is increasing visibility and could bring more institutional and ETF-related demand for the shares. Does Lumentum (LITE) Joining the Nasdaq-100 Recast Its AI Infrastructure Investment Narrative?
• Neutral Sentiment: REX Shares launched a 2x leveraged ETF tied to Lumentum, which may boost trading interest but does not change the company’s fundamentals. REX Shares Launches T-REX 2X ASTS (ASUP) & 2X LITE (LITU) ETFs
• Neutral Sentiment: Several insider sale filings were reported, but the trades were relatively small and do not appear to be a major driver of the stock move. Yuen Wupen Sells 3,210 Shares of Lumentum NASDAQ: LITE 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.

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.