Lumentum Holdings Inc. $LITE Shares Sold by Front Street Capital Management Inc.

Key Points

• Front Street Capital Management Inc. reduced its stake in Lumentum Holdings Inc. by 6.1%, bringing its total ownership down to 109,368 shares worth approximately $6.8 million.
• Several analysts have raised their price targets for Lumentum, with JPMorgan increasing its target from $123 to $145 and giving the stock an "overweight" rating.
• Insiders have sold a total of 81,687 shares of Lumentum stock valued at approximately $8.4 million in the last ninety days, indicating potential shifts in insider confidence.

Front Street Capital Management Inc. cut its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 6.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 109,368 shares of the technology company's stock after selling 7,135 shares during the period. Lumentum makes up 1.3% of Front Street Capital Management Inc.'s holdings, making the stock its 21st biggest holding. Front Street Capital Management Inc. owned 0.16% of Lumentum worth $6,818,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Scientech Research LLC raised its position in Lumentum by 37.4% in the first quarter. Scientech Research LLC now owns 13,266 shares of the technology company's stock valued at $827,000 after purchasing an additional 3,613 shares during the period. Petrus Trust Company LTA purchased a new position in shares of Lumentum during the first quarter worth $428,000. PointState Capital LP acquired a new stake in shares of Lumentum in the first quarter valued at $213,503,000. NewEdge Advisors LLC raised its holdings in shares of Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after buying an additional 6,275 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in Lumentum by 1.1% during the 1st quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company's stock worth $107,913,000 after acquiring an additional 19,085 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Down 1.6%

LITE traded down $2.65 on Friday, hitting $162.23. 1,651,418 shares of the company were exchanged, compared to its average volume of 2,717,797. Lumentum Holdings Inc. has a twelve month low of $45.65 and a twelve month high of $168.01. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 705.53 and a beta of 1.42. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. The firm has a 50-day moving average price of $115.95 and a two-hundred day moving average price of $85.84.

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

Insider Activity at Lumentum

In other Lumentum news, insider Yuen Wupen sold 3,282 shares of the business's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $119.25, for a total transaction of $391,378.50. Following the completion of the transaction, the insider owned 104,554 shares in the company, valued at $12,468,064.50. The trade was a 3.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan S. Lowe sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total transaction of $1,869,400.00. Following the transaction, the director owned 230,471 shares of the company's stock, valued at $21,542,124.37. This trade represents a 7.98% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,687 shares of company stock worth $8,398,352 over the last ninety days. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

LITE has been the subject of several research reports. Wolfe Research assumed coverage on Lumentum in a research report on Tuesday, August 12th. They issued an "outperform" rating for the company. Susquehanna raised their price objective on shares of Lumentum to $125.00 and gave the company a "positive" rating in a research note on Tuesday, August 12th. UBS Group lifted their price objective on shares of Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $145.00 target price (up from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Finally, B. Riley raised their price target on shares of Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Lumentum presently has an average rating of "Moderate Buy" and a consensus price target of $128.00.

About Lumentum

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.