Lumentum Holdings Inc. $LITE Shares Sold by 1492 Capital Management LLC

Key Points

• 1492 Capital Management cut its Lumentum stake by 25.3% in the first quarter, selling 3,050 shares and leaving it with 8,988 shares worth about $6.3 million.
• Lumentum reported better-than-expected Q1 earnings of $2.37 per share versus $2.27 expected, while revenue rose 90.1% year over year to $808.4 million.
• Wall Street remains broadly positive: analysts have a Moderate Buy consensus on LITE, with an average price target of $1,021.95 after several firms raised their targets.

1492 Capital Management LLC decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 25.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,988 shares of the technology company's stock after selling 3,050 shares during the quarter. Lumentum accounts for approximately 2.4% of 1492 Capital Management LLC's holdings, making the stock its 5th largest position. 1492 Capital Management LLC's holdings in Lumentum were worth $6,316,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Advisors Asset Management Inc. boosted its position in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock worth $747,000 after acquiring an additional 6,275 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock worth $507,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Lumentum in the 2nd quarter worth $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Lumentum during the second quarter worth $1,712,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Performance

Shares of LITE stock opened at $818.73 on Friday. The company has a market capitalization of $63.70 billion, a price-to-earnings ratio of 151.62 and a beta of 1.47. Lumentum Holdings Inc. has a 1-year low of $88.37 and a 1-year high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock's fifty day simple moving average is $901.03 and its 200-day simple moving average is $668.39.

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 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 during the quarter, compared to the consensus estimate of $810.21 million. During the same period in the prior year, the business earned $0.57 EPS. The business'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, sell-side analysts predict that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 2,487 shares of the firm's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares in the company, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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, Director Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last ninety days. Insiders own 0.43% of the company's stock.

Wall Street Analyst Weigh In

LITE has been the subject of several analyst reports. Morgan Stanley upped their target price on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Loop Capital lifted their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Raymond James Financial restated an "outperform" rating and set a $1,014.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Barclays upped their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Finally, Stifel Nicolaus raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $1,021.95.

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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