Lumentum Holdings Inc. $LITE Shares Sold by First Trust Advisors LP

First Trust Advisors LP reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 22.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,828 shares of the technology company's stock after selling 21,232 shares during the period. First Trust Advisors LP owned 0.09% of Lumentum worth $51,883,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Westpac Banking Corp acquired a new position in Lumentum during the first quarter worth approximately $3,292,000. Telligent Fund LP acquired a new position in shares of Lumentum in the 1st quarter valued at $1,687,000. Temasek Holdings Private Ltd purchased a new stake in shares of Lumentum during the 1st quarter valued at $18,220,000. ABN Amro Investment Solutions purchased a new stake in shares of Lumentum during the 1st quarter valued at $2,566,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Lumentum by 5.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,304 shares of the technology company's stock worth $5,836,000 after buying an additional 450 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Barclays recently upgraded Lumentum and cited expectations for continued earnings strength, keeping the photonics maker in focus ahead of its next earnings report.
• Positive Sentiment: Zacks highlighted Lumentum as one of three stocks worth buying after recent broker rating upgrades, reinforcing the bullish analyst backdrop.
• Positive Sentiment: Analysts now describe Lumentum as a “Moderate Buy,” reflecting broad Street confidence in the company’s outlook.
• Positive Sentiment: Recent coverage has tied Lumentum to AI and data-center spending themes, with investors expecting optical networking suppliers to benefit from ongoing infrastructure buildout.
• Neutral Sentiment: Investors are also watching Lumentum’s upcoming quarterly earnings preview, with results likely to be a key catalyst for the stock.
• Negative Sentiment: Short interest data showed 0 shares reported, so there is no meaningful bearish signal from the latest short-interest update.

Insider Buying and Selling

In related news, SVP Jae Kim sold 1,422 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 Isaac Hosojiro Harris sold 1,416 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% 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. Over the last three months, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

NASDAQ:LITE opened at $762.99 on Monday. The firm's fifty day simple moving average is $844.69 and its 200 day simple moving average is $728.47. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a twelve month low of $101.22 and a twelve month high of $1,085.68. The firm has a market capitalization of $59.36 billion, a price-to-earnings ratio of 141.29 and a beta of 1.48.

Lumentum (NASDAQ:LITE - Get Free Report) last announced 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. 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 firm earned $0.57 EPS. The firm's quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on LITE. Citic Securities increased their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a research report on Wednesday, May 6th. Citigroup restated a "buy" rating on shares of Lumentum in a research note on Thursday, July 16th. Jefferies Financial Group restated a "buy" rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Finally, Northland Securities lifted their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Wednesday, June 3rd. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Lumentum presently has an average rating of "Moderate Buy" and a consensus target price of $1,012.67.

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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.