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

Key Points

• Front Street Capital Management cut its Lumentum stake by 21.6% in the first quarter, selling 20,653 shares and retaining 74,931 shares worth approximately $52.7 million. Institutional investors collectively own 94.05% of the company.
• Wall Street remains broadly positive, with 14 analysts rating Lumentum a Buy and seven a Hold. The stock has a “Moderate Buy” consensus rating and an average price target of $1,012.67.
• Lumentum reported quarterly EPS of $2.37, beating estimates by $0.10, while revenue rose 90.1% year over year to $808.4 million. Shares opened at $693.24, with a market capitalization of about $53.9 billion.

Front Street Capital Management Inc. decreased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 21.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 74,931 shares of the technology company's stock after selling 20,653 shares during the period. Lumentum accounts for about 6.8% of Front Street Capital Management Inc.'s portfolio, making the stock its 4th largest holding. Front Street Capital Management Inc. owned 0.10% of Lumentum worth $52,659,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its stake in shares of Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after buying an additional 114,714 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in shares of Lumentum during the first quarter worth approximately $2,046,000. Andar Capital Management HK Ltd purchased a new stake in shares of Lumentum during the fourth quarter worth approximately $4,325,000. Whittier Trust Co. raised its holdings in Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock valued at $57,183,000 after acquiring an additional 73,706 shares in the last quarter. Finally, Styrax Capital LP raised its holdings in Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock valued at $98,386,000 after acquiring an additional 4,837 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group boosted their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Citigroup reaffirmed a "buy" rating on shares of Lumentum in a research report on Thursday, July 16th. Stifel Nicolaus boosted their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,012.67.

Lumentum Stock Up 15.1%

LITE stock opened at $693.24 on Friday. The stock has a market cap of $53.93 billion, a P/E ratio of 128.38 and a beta of 1.48. 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 $101.61 and a twelve month high of $1,085.68. The company's 50 day moving average is $825.72 and its two-hundred day moving average is $736.71.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its 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 business had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company's revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 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 $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 Lumentum stock in a transaction dated 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 sale, the director owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last quarter. 0.43% of the stock is owned by corporate insiders.

About Lumentum

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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