Lumentum Holdings Inc. $LITE Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Lumentum stake by 35.2% in the first quarter, selling 350,216 shares and leaving it with 644,262 shares worth about $452.8 million.
• Insider selling has also been notable, with director Isaac Hosojiro Harris and insider Vincent Retort both selling shares under pre-arranged Rule 10b5-1 plans; insiders have sold 41,260 shares worth about $38.9 million over the last three months.
• Analysts remain constructive on Lumentum despite the stock’s 7.4% drop, with a consensus rating of Moderate Buy and an average price target of $1,021.95; the company also recently beat EPS estimates and raised guidance for Q4 2026.

Assenagon Asset Management S.A. lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 35.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 644,262 shares of the technology company's stock after selling 350,216 shares during the period. Lumentum accounts for about 0.7% of Assenagon Asset Management S.A.'s investment portfolio, making the stock its 23rd biggest holding. Assenagon Asset Management S.A. owned 0.90% of Lumentum worth $452,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. XML Financial LLC grew its holdings in Lumentum by 12.4% in the 1st quarter. XML Financial LLC now owns 635 shares of the technology company's stock worth $446,000 after buying an additional 70 shares in the last quarter. Brookstone Capital Management raised its stake in Lumentum by 145.0% during the 1st quarter. Brookstone Capital Management now owns 1,725 shares of the technology company's stock valued at $1,212,000 after acquiring an additional 1,021 shares in the last quarter. Evolve Private Wealth LLC acquired a new position in Lumentum during the 1st quarter worth $269,000. Swisher Financial Concepts Inc. acquired a new position in Lumentum during the 1st quarter worth $219,000. Finally, E. Ohman J or Asset Management AB bought a new position in shares of Lumentum in the first quarter worth $1,687,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the firm's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the completion of the sale, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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 Lumentum 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 transaction, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% 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. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 in the last three months. Insiders own 0.43% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on LITE shares. Citic Securities raised their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Craig Hallum increased their target price on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Jefferies Financial Group reissued a "buy" rating and set a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Susquehanna boosted their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a research report on Monday, April 20th. Finally, Stifel Nicolaus boosted their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Lumentum currently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Lumentum Trading Down 7.4%

Lumentum stock opened at $827.92 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a market cap of $64.41 billion, a price-to-earnings ratio of 153.32 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 firm's 50 day moving average price is $901.56 and its two-hundred day moving average price is $659.98.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million for the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm's revenue was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

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.

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