Lumentum Holdings Inc. $LITE Shares Sold by Arnhold LLC

Key Points

• Arnhold LLC reduced its Lumentum stake by 43.2% in the fourth quarter, selling 89,691 shares and leaving it with 118,111 shares valued at about $43.5 million.
• Insiders have also been trimming holdings, with director Brian Lillie and insider Vincent Retort making notable sales over the past month; company insiders collectively own just 0.43% of the stock.
• Lumentum recently reported strong quarterly results, beating EPS estimates with $2.37 per share and posting 90.1% year-over-year revenue growth, while analysts now hold a Moderate Buy consensus with an average target price of $1,012.43.

Arnhold LLC cut its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 43.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,111 shares of the technology company's stock after selling 89,691 shares during the quarter. Lumentum comprises about 3.3% of Arnhold LLC's holdings, making the stock its 6th largest position. Arnhold LLC owned 0.17% of Lumentum worth $43,535,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock worth $27,000 after buying an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the fourth quarter worth $28,000. Danske Bank A S acquired a new stake in shares of Lumentum during the third quarter worth $33,000. Harbour Investments Inc. increased its position in shares of Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock worth $34,000 after buying an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new stake in shares of Lumentum during the fourth quarter worth $37,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares of the company's stock, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the firm's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the transaction, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. In the last three months, insiders sold 41,146 shares of company stock valued at $37,667,478. Corporate insiders own 0.43% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LITE shares. Bank of America increased their price objective on shares of Lumentum to $520.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Zacks Research upgraded shares of Lumentum from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. Northland Securities set a $1,000.00 price target on shares of Lumentum in a report on Monday, April 20th. Barclays raised their price target on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 6th. Finally, Citic Securities raised their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Lumentum has an average rating of "Moderate Buy" and an average target price of $1,012.43.

Lumentum Stock Performance

NASDAQ:LITE opened at $946.90 on Tuesday. 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 has a market capitalization of $73.67 billion, a price-to-earnings ratio of 175.35 and a beta of 1.53. The firm has a fifty day simple moving average of $843.78 and a two-hundred day simple moving average of $567.91. Lumentum Holdings Inc. has a 12 month low of $71.04 and a 12 month high of $1,085.68.

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

About Lumentum

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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