Lumentum Holdings Inc. $LITE Shares Sold by Sandler Capital Management

Key Points

• Sandler Capital Management significantly reduced its stake in Lumentum Holdings by 87.1% in Q1, ending with 16,397 shares worth approximately $1.02 million after selling 110,390 shares.
• Lumentum saw a 55.9% year-over-year revenue increase for the quarter, with earnings per share surpassing estimates at $0.88 compared to the expected $0.79.
• Wall Street analysts have generally reacted positively, with many raising their price targets for Lumentum, indicating a Moderate Buy rating and an average price target of around $125.86.

Sandler Capital Management lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 87.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,397 shares of the technology company's stock after selling 110,390 shares during the period. Sandler Capital Management's holdings in Lumentum were worth $1,022,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its position in Lumentum by 2,235.3% during the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after acquiring an additional 380 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Lumentum during the first quarter valued at about $25,000. Rakuten Securities Inc. grew its position in Lumentum by 164.4% during the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock valued at $30,000 after acquiring an additional 296 shares during the period. Golden State Wealth Management LLC grew its position in Lumentum by 103.2% during the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock valued at $32,000 after acquiring an additional 260 shares during the period. Finally, SVB Wealth LLC purchased a new stake in Lumentum during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 3,281 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $124.86, for a total transaction of $409,665.66. Following the sale, the insider owned 101,273 shares in the company, valued at $12,644,946.78. This represents a 3.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jae Kim sold 4,507 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $116.88, for a total value of $526,778.16. Following the sale, the senior vice president owned 33,465 shares in the company, valued at $3,911,389.20. The trade was a 11.87% 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 valued at $8,398,352 over the last three months. Company insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LITE shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $145.00 target price (up previously from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. JPMorgan Chase & Co. upped their target price on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research report on Thursday, August 14th. Wall Street Zen raised Lumentum from a "hold" rating to a "buy" rating in a research report on Sunday. Raymond James Financial upped their target price on Lumentum from $125.00 to $145.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 13th. Finally, UBS Group upped their target price on Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $128.00.

Lumentum Stock Up 1.6%

LITE traded up $2.33 on Tuesday, reaching $151.73. The company's stock had a trading volume of 2,150,375 shares, compared to its average volume of 4,113,553. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 659.70 and a beta of 1.42. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $152.65. The company has a debt-to-equity ratio of 2.26, a current ratio of 4.37 and a quick ratio of 3.18. The business's 50 day moving average is $113.03 and its 200 day moving average is $84.65.

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

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.