Legacy Capital Group California Inc. Sells 900 Shares of Lumentum Holdings Inc. $LITE

Legacy Capital Group California Inc. lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 72.7% during the first quarter, HoldingsChannel.com reports. The firm owned 338 shares of the technology company’s stock after selling 900 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Lumentum were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of Lumentum in the first quarter valued at approximately $271,000. Archer Investment Corp grew its position in Lumentum by 92,900.0% during the first quarter. Archer Investment Corp now owns 930 shares of the technology company’s stock worth $654,000 after buying an additional 929 shares in the last quarter. State of Michigan Retirement System grew its position in Lumentum by 11.8% during the first quarter. State of Michigan Retirement System now owns 18,700 shares of the technology company’s stock worth $13,142,000 after buying an additional 1,972 shares in the last quarter. Chicago Partners Investment Group LLC bought a new position in Lumentum during the 1st quarter worth $718,000. Finally, Triglav Investments D.O.O. bought a new position in Lumentum during the 1st quarter worth $2,945,000. 94.05% of the stock is owned by institutional investors.

Insider Activity at Lumentum

In related news, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This represents a 19.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Jae Kim sold 1,422 shares of the firm’s 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 $1,356,516.90. Following the completion of the sale, the senior vice president owned 32,333 shares in the company, valued at $30,844,065.35. This represents a 4.21% 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 worth $38,859,220 in the last ninety days. Insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on LITE shares. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Citigroup boosted their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. BNP Paribas Exane raised their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Finally, Stifel Nicolaus upped their price target 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. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Price Performance

Shares of LITE stock opened at $752.00 on Thursday. The business has a fifty day simple moving average of $872.19 and a 200 day simple moving average of $708.38. The company has a market cap of $58.51 billion, a P/E ratio of 139.26 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a twelve month low of $95.18 and a twelve month high of $1,085.68.

Lumentum (NASDAQ:LITE) last released 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 firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

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.