Lumentum Holdings Inc. $LITE Shares Sold by Cim Investment Management Inc.

Key Points

• Cim Investment Management cut its stake in Lumentum by 51.9% in Q3, selling 4,992 shares and leaving it with 4,630 shares valued at about $753,000 per its SEC filing.
• Company insiders have sold heavily recently—including Penny Herscher and Vincent Retort—with insiders offloading 65,775 shares worth roughly $38.85 million in the last three months (insiders now own 0.43% of shares).
• Lumentum reported a quarterly beat (EPS $1.67 vs. $1.41 expected; revenue $665.5M, +65.5% YoY), issued Q3 guidance of $2.15–$2.35 EPS, and retains a consensus analyst rating of “Moderate Buy” with a consensus price target of $550.38.

Cim Investment Management Inc. decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 51.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,630 shares of the technology company's stock after selling 4,992 shares during the period. Cim Investment Management Inc.'s holdings in Lumentum were worth $753,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company's stock valued at $27,000 after buying an additional 131 shares during the period. MAI Capital Management lifted its holdings in Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company's stock worth $43,000 after acquiring an additional 96 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in Lumentum in the third quarter valued at approximately $49,000. Cullen Frost Bankers Inc. acquired a new position in Lumentum in the third quarter valued at approximately $49,000. Finally, Huntington National Bank grew its holdings in shares of Lumentum by 4,125.0% during the third quarter. Huntington National Bank now owns 338 shares of the technology company's stock valued at $55,000 after purchasing an additional 330 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LITE has been the topic of a number of research reports. Stifel Nicolaus increased their price target on Lumentum to $800.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. TD Cowen initiated coverage on Lumentum in a research note on Thursday, March 12th. They set a "hold" rating and a $675.00 price objective for the company. Bank of America increased their target price on Lumentum to $520.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. Susquehanna raised their target price on Lumentum to $550.00 and gave the company a "positive" rating in a research note on Wednesday, February 4th. Finally, Rosenblatt Securities boosted their price target on shares of Lumentum to $580.00 and gave the company a "buy" rating in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $550.38.

Insider Transactions at Lumentum

In other Lumentum news, Director Penny Herscher sold 4,849 shares of the business's stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $535.48, for a total value of $2,596,542.52. Following the sale, the director directly owned 6,057 shares in the company, valued at approximately $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vincent Retort sold 45,026 shares of the company's stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the sale, the insider directly owned 102,455 shares of the company's stock, valued at $60,583,690.60. The trade was a 30.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,775 shares of company stock valued at $38,851,343 in the last three months. 0.43% of the stock is currently owned by insiders.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $649.56 on Wednesday. The stock has a market cap of $46.38 billion, a price-to-earnings ratio of 199.25 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $783.80. The stock's 50 day moving average price is $520.42 and its 200 day moving average price is $338.93.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.26. The firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm's quarterly revenue was up 65.5% on a year-over-year basis. During the same period last year, the company posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share 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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