Entropy Technologies LP decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 46.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,031 shares of the technology company’s stock after selling 13,087 shares during the period. Entropy Technologies LP’s holdings in Lumentum were worth $5,540,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LITE. EverSource Wealth Advisors LLC grew its holdings in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after acquiring an additional 131 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the 4th quarter worth approximately $28,000. Triumph Capital Management purchased a new position in shares of Lumentum during the 4th quarter worth approximately $30,000. Danske Bank A S purchased a new position in shares of Lumentum during the 3rd quarter worth approximately $33,000. Finally, Harbour Investments Inc. grew its holdings in shares of Lumentum by 675.0% during the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.
Insider Activity
In other news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the sale, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. Company insiders own 0.43% of the company’s stock.
Lumentum Price Performance
Lumentum (NASDAQ:LITE – Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS 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 firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have weighed in on LITE shares. Citigroup upped their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Morgan Stanley upped their price objective on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, Stifel Nicolaus upped their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.
View Our Latest Research Report on Lumentum
Lumentum 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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