Lumentum Holdings Inc. $LITE Stake Trimmed by Boothbay Fund Management LLC

Key Points

• Boothbay Fund Management LLC significantly reduced its ownership of Lumentum Holdings by 23.2%, now holding 146,328 shares valued at approximately $9.12 million after selling 44,185 shares in the first quarter.
• Lumentum's quarterly earnings showed a 55.9% increase in revenue year-over-year, with earnings per share of $0.88 exceeding analyst expectations of $0.79.
• The company's stock is currently rated as a "Moderate Buy" by analysts, with a consensus target price of $125.86 following revisions from several financial institutions.

Boothbay Fund Management LLC lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 23.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,328 shares of the technology company's stock after selling 44,185 shares during the period. Boothbay Fund Management LLC owned about 0.21% of Lumentum worth $9,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Analog Century Management LP acquired a new position in Lumentum during the first quarter worth $60,348,000. Nuveen Asset Management LLC lifted its holdings in shares of Lumentum by 98.9% in 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 purchasing an additional 610,938 shares in the last quarter. Channing Capital Management LLC purchased a new stake in shares of Lumentum in the first quarter valued at about $36,715,000. Nuveen LLC purchased a new stake in shares of Lumentum in the first quarter valued at about $27,054,000. Finally, Junto Capital Management LP purchased a new stake in shares of Lumentum in the first quarter valued at about $20,974,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Yuen Wupen sold 3,282 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $119.25, for a total value of $391,378.50. Following the completion of the transaction, the insider directly owned 104,554 shares of the company's stock, valued at $12,468,064.50. This represents a 3.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Wajid Ali sold 2,526 shares of the stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $124.39, for a total value of $314,209.14. Following the completion of the transaction, the chief financial officer directly owned 77,087 shares of the company's stock, valued at $9,588,851.93. This trade represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,687 shares of company stock worth $8,398,352 over the last three months. Insiders own 0.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. UBS Group upped their price target on shares of Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Lumentum from a "hold" rating to a "buy" rating in a research note on Sunday. Stifel Nicolaus upped their price objective on shares of Lumentum from $100.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. KGI Securities initiated coverage on shares of Lumentum in a research note on Monday, August 18th. They set an "outperform" rating for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 price objective (up previously from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $125.86.

Lumentum Stock Down 0.0%

Shares of NASDAQ:LITE traded down $0.06 during trading on Monday, hitting $149.40. The company's stock had a trading volume of 3,453,088 shares, compared to its average volume of 2,704,416. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $152.27. The stock's 50-day moving average price is $110.74 and its two-hundred day moving average price is $83.65. The company has a market capitalization of $10.44 billion, a PE ratio of 649.57 and a beta of 1.42.

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

Lumentum Profile

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.