Shellback Capital LP Lowers Stock Position in Lumentum Holdings Inc. $LITE

Key Points

• Shellback Capital LP reduced its holdings in Lumentum Holdings Inc. by 70.2%, ending the first quarter with approximately $7.66 million invested in the company.
• Vanguard Group Inc. slightly increased its stake in Lumentum by 0.6%, now holding 7,430,185 shares valued at $463.2 million, following further investments from other institutional investors.
• Lumentum announced a 55.9% year-over-year revenue increase in its latest quarterly results, reporting $480.70 million in revenue and exceeding EPS estimates.

Shellback Capital LP lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 70.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,800 shares of the technology company's stock after selling 289,199 shares during the period. Shellback Capital LP owned approximately 0.18% of Lumentum worth $7,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CoreCap Advisors LLC grew its position in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after buying an additional 380 shares during the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Lumentum in the 1st quarter worth approximately $25,000. Rakuten Securities Inc. grew its position in Lumentum by 164.4% during the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares during the last quarter. Golden State Wealth Management LLC grew its position in Lumentum by 103.2% during the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after purchasing an additional 260 shares during the last quarter. Finally, SVB Wealth LLC purchased a new stake in Lumentum during the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Trading Down 1.3%

Lumentum stock traded down $2.17 during midday trading on Friday, hitting $162.71. 1,445,478 shares of the stock were exchanged, compared to its average volume of 2,716,936. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $168.01. The stock has a market capitalization of $11.37 billion, a price-to-earnings ratio of 706.65 and a beta of 1.42. The stock's 50-day simple moving average is $115.95 and its 200 day simple moving average is $85.84. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share (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 firm had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same period last year, the business earned $0.06 earnings per share. Lumentum's revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on LITE shares. Stifel Nicolaus boosted their target price on shares of Lumentum from $100.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Bank of America upgraded shares of Lumentum from an "underperform" rating to a "neutral" rating and boosted their target price for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. Raymond James Financial upped their price objective on shares of Lumentum from $125.00 to $145.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, August 13th. Susquehanna upped their price objective on shares of Lumentum to $125.00 and gave the stock a "positive" rating in a research report on Tuesday, August 12th. Finally, Barclays upped their price objective on shares of Lumentum from $135.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday. Two research 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 company. According to MarketBeat.com, Lumentum has a consensus rating of "Moderate Buy" and a consensus target price of $128.00.

Insider Activity

In related news, insider Yuen Wupen sold 3,281 shares of the firm's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $124.86, for a total transaction of $409,665.66. Following the completion of the sale, the insider directly owned 101,273 shares in the company, valued at approximately $12,644,946.78. This trade represents a 3.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jae Kim sold 4,507 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $116.88, for a total transaction of $526,778.16. Following the sale, the senior vice president owned 33,465 shares of the company's stock, valued at approximately $3,911,389.20. The trade was a 11.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,687 shares of company stock valued at $8,398,352 in the last quarter. Insiders own 0.19% of the company's stock.

Lumentum Company Profile

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.