Lumentum Holdings Inc. $LITE Position Lessened by LPL Financial LLC

Key Points

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LPL Financial LLC decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,957 shares of the technology company's stock after selling 9,609 shares during the period. LPL Financial LLC owned approximately 0.06% of Lumentum worth $2,491,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LITE. Capital World Investors boosted its holdings in Lumentum by 108.3% in the fourth quarter. Capital World Investors now owns 3,600,132 shares of the technology company's stock valued at $302,231,000 after purchasing an additional 1,871,572 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Lumentum by 98.9% during the fourth quarter. Nuveen Asset Management LLC now owns 1,228,371 shares of the technology company's stock valued at $103,122,000 after buying an additional 610,938 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in Lumentum by 419.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 444,147 shares of the technology company's stock valued at $37,286,000 after buying an additional 583,330 shares in the last quarter. Capital Research Global Investors acquired a new stake in Lumentum during the fourth quarter valued at approximately $42,415,000. Finally, Hood River Capital Management LLC acquired a new stake in Lumentum during the fourth quarter valued at approximately $32,810,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Price Performance

Shares of LITE traded up $2.3770 during trading hours on Friday, hitting $119.8070. 1,468,154 shares of the company were exchanged, compared to its average volume of 2,586,963. The company has a market capitalization of $8.31 billion, a PE ratio of 520.54 and a beta of 1.33. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.37 and a quick ratio of 3.18. The firm has a fifty day simple moving average of $101.36 and a 200-day simple moving average of $79.80. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $129.98.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. The business had revenue of $480.70 million during the quarter, compared to analyst estimates of $465.27 million. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The company's revenue was up 55.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 241 shares of the firm's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $108.34, for a total value of $26,109.94. Following the completion of the sale, the insider owned 78,597 shares of the company's stock, valued at $8,515,198.98. This trade represents a 0.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jae Kim sold 912 shares of the firm's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $116.45, for a total value of $106,202.40. Following the completion of the sale, the senior vice president directly owned 29,820 shares of the company's stock, valued at approximately $3,472,539. This trade represents a 2.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 80,313 shares of company stock valued at $7,777,835 over the last quarter. 0.19% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LITE shares. JPMorgan Chase & Co. increased their price target on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Needham & Company LLC restated a "buy" rating and issued a $145.00 target price (up from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. Rosenblatt Securities restated a "buy" rating and issued a $150.00 target price on shares of Lumentum in a research report on Thursday, August 14th. Susquehanna raised their target price on Lumentum to $125.00 and gave the company a "positive" rating in a research report on Tuesday, August 12th. Finally, B. Riley raised their target price on Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $122.85.

About Lumentum

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.