Woodline Partners LP Sells 100,423 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Woodline Partners LP reduced its stake in Lumentum Holdings Inc. by 35.6%, owning approximately 181,632 shares valued at $11.32 million, according to its latest SEC filing.
• Lumentum reported quarterly earnings of $0.88 per share, exceeding expectations of $0.79, with revenues of $480.70 million, marking a 55.9% year-over-year increase.
• Institutional investors own 94.05% of Lumentum's stock, indicating strong interest from large funds, while several brokerages have given the company a "buy" rating with price targets ranging from $132 to $165.

Woodline Partners LP decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 35.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 181,632 shares of the technology company's stock after selling 100,423 shares during the period. Woodline Partners LP owned about 0.26% of Lumentum worth $11,323,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Lumentum by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock valued at $463,198,000 after purchasing an additional 47,811 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Lumentum during the first quarter worth about $260,000. UMB Bank n.a. grew its position in shares of Lumentum by 132.9% during the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after acquiring an additional 448 shares during the last quarter. FORA Capital LLC bought a new position in shares of Lumentum during the first quarter worth about $642,000. Finally, Principal Financial Group Inc. grew its position in shares of Lumentum by 1.1% during the first quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock worth $9,922,000 after acquiring an additional 1,660 shares during the last quarter. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on LITE shares. Morgan Stanley upped their price target on shares of Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research report 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 report on Wednesday, August 13th. B. Riley upped their price target on shares of Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Susquehanna upped their price target on shares of Lumentum to $125.00 and gave the company a "positive" rating in a report on Tuesday, August 12th. Finally, UBS Group boosted their price objective on Lumentum from $78.00 to $130.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Two research 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 MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $128.00.

Lumentum Stock Performance

Lumentum stock traded down $4.23 during trading hours on Wednesday, reaching $166.68. 813,712 shares of the company were exchanged, compared to its average volume of 2,721,865. The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 723.74 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 stock has a 50-day moving average of $120.51 and a 200 day moving average of $87.96. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $171.87.

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

Insider Activity

In other Lumentum news, Director Julia Suzanne Johnson sold 1,250 shares of the company's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the sale, the director owned 22,037 shares of the company's stock, valued at $2,623,725.22. This represents a 5.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vincent Retort sold 22,719 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $110.00, for a total value of $2,499,090.00. Following the sale, the insider directly owned 121,747 shares of the company's stock, valued at $13,392,170. The trade was a 15.73% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,687 shares of company stock valued at $6,628,952. 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.