Sterling Capital Management LLC trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 42.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,420 shares of the technology company’s stock after selling 1,776 shares during the quarter. Sterling Capital Management LLC’s holdings in Lumentum were worth $1,701,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum during the first quarter valued at approximately $25,000. Parallel Advisors LLC boosted its stake in shares of Lumentum by 16.0% in the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after acquiring an additional 45 shares during the last quarter. Allworth Financial LP increased its position in shares of Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock worth $128,000 after purchasing an additional 47 shares in the last quarter. UMB Bank n.a. increased its position in shares of Lumentum by 5.2% during the fourth quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock worth $357,000 after purchasing an additional 48 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on the company. B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Raymond James Financial reiterated an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Rosenblatt Securities increased their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Finally, Mizuho set a $1,100.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.
Lumentum Stock Performance
Shares of Lumentum stock opened at $851.40 on Tuesday. Lumentum Holdings Inc. has a one year low of $88.37 and a one year high of $1,085.68. The company has a market cap of $66.24 billion, a price-to-earnings ratio of 157.67 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The business’s 50 day moving average price is $900.23 and its 200 day moving average price is $674.14.
Lumentum (NASDAQ:LITE – Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.
Insider Buying and Selling at Lumentum
In other news, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated 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 transaction, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 Yuen Wupen sold 3,210 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This represents a 3.79% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.
About Lumentum
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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