Lumentum Holdings Inc. $LITE Stock Holdings Lowered by Eventide Asset Management LLC

Key Points

• Eventide Asset Management cut its Lumentum stake by 35.3% in the fourth quarter, though institutional ownership of the stock remains high at 94.05%.
• Insiders have been selling shares, including two directors in recent transactions, with insiders selling 41,260 shares worth about $38.9 million over the last 90 days.
• Lumentum reported strong quarterly results, beating EPS estimates and posting 90.1% year-over-year revenue growth, while analysts have a consensus rating of “Moderate Buy” and a target price around $1,021.95.

Eventide Asset Management LLC lowered its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 35.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,957 shares of the technology company's stock after selling 2,700 shares during the period. Eventide Asset Management LLC's holdings in Lumentum were worth $1,827,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LITE. Advisors Asset Management Inc. grew its position in shares of Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock worth $59,000 after acquiring an additional 254 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock worth $747,000 after acquiring an additional 6,275 shares during the last quarter. Empowered Funds LLC grew its position in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock worth $507,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Lumentum during the second quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Lumentum during the second quarter worth about $1,712,000. Institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In other Lumentum news, Director Ian Small sold 4,954 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares of the company's stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Isaac Hosojiro Harris sold 1,416 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director directly owned 6,984 shares of the company's stock, valued at $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. 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 worth $38,859,220 in the last ninety days. Insiders own 0.43% of the company's stock.

Lumentum Stock Performance

LITE stock opened at $921.56 on Monday. The company has a market capitalization of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47. The company has a 50-day simple moving average of $897.64 and a 200 day simple moving average of $632.04. Lumentum Holdings Inc. has a fifty-two week low of $81.93 and a fifty-two week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company 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 company earned $0.57 EPS. Lumentum's revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LITE has been the subject of several recent research reports. Morgan Stanley upped their price target on shares of Lumentum from $710.00 to $900.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. TD Cowen upped their price target on shares of Lumentum from $875.00 to $995.00 and gave the stock a "hold" rating in a research report on Wednesday, May 6th. UBS Group upped their price objective on shares of Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Finally, Citic Securities upped their price objective on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,021.95.

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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