Lumentum Holdings Inc. $LITE Stock Holdings Reduced by Leeward Investments LLC MA

Leeward Investments LLC MA reduced its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 69.5% during the 1st quarter, HoldingsChannel.com reports. The firm owned 34,888 shares of the technology company’s stock after selling 79,390 shares during the quarter. Lumentum makes up about 1.2% of Leeward Investments LLC MA’s investment portfolio, making the stock its 14th largest holding. Leeward Investments LLC MA’s holdings in Lumentum were worth $24,518,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership increased its holdings in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after buying an additional 1,545,199 shares during the last quarter. Norges Bank bought a new stake in Lumentum in the fourth quarter worth approximately $474,495,000. Value Aligned Research Advisors LLC bought a new stake in Lumentum in the fourth quarter worth approximately $432,062,000. Situational Awareness LP increased its stake in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Lumentum by 707.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after purchasing an additional 871,249 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Jae Kim sold 1,422 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the transaction, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, CFO Wajid Ali sold 2,487 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This represents a 3.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 in the last quarter. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

LITE has been the topic of a number of recent research reports. Citic Securities raised their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. TD Cowen increased their target price on shares of Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Citigroup increased their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 target price on shares of Lumentum in a report on Wednesday, May 6th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Price Performance

Shares of Lumentum stock opened at $827.92 on Wednesday. The firm has a fifty day simple moving average of $901.56 and a 200-day simple moving average of $659.98. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1-year low of $88.37 and a 1-year high of $1,085.68. The stock has a market capitalization of $64.41 billion, a price-to-earnings ratio of 153.32 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue was up 90.1% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

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.