Legacy Capital Group California Inc. Lowers Holdings in Lumentum Holdings Inc. $LITE

Legacy Capital Group California Inc. cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 24.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,888 shares of the technology company’s stock after selling 914 shares during the quarter. Legacy Capital Group California Inc.’s holdings in Lumentum were worth $470,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its holdings in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after buying an additional 131 shares in the last quarter. Steigerwald Gordon & Koch Inc. acquired a new position in shares of Lumentum during the 3rd quarter worth about $49,000. Cullen Frost Bankers Inc. acquired a new position in shares of Lumentum during the third quarter valued at approximately $49,000. Huntington National Bank lifted its holdings in Lumentum by 4,125.0% in the 3rd quarter. Huntington National Bank now owns 338 shares of the technology company’s stock valued at $55,000 after purchasing an additional 330 shares in the last quarter. Finally, Rossby Financial LCC acquired a new position in Lumentum during the third quarter worth about $77,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on LITE shares. Citigroup raised their target price on shares of Lumentum to $560.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Needham & Company LLC lifted their price objective on Lumentum to $850.00 and gave the stock a “buy” rating in a research report on Wednesday. B. Riley Financial upgraded Lumentum from a “neutral” rating to a “buy” rating and upped their target price for the company from $147.00 to $526.00 in a report on Wednesday, February 4th. Stifel Nicolaus boosted their price target on shares of Lumentum to $800.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Finally, UBS Group raised their price objective on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $513.94.

Insider Transactions at Lumentum

In related news, insider Vincent Retort sold 3,441 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the sale, the insider owned 95,975 shares in the company, valued at approximately $52,381,235.50. The trade was a 3.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the transaction, the director owned 2,057 shares of the company’s stock, valued at $1,228,625.53. This trade represents a 66.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 65,775 shares of company stock worth $38,851,343 in the last ninety days. 0.43% of the stock is owned by company insiders.

Lumentum Trading Down 14.2%

NASDAQ LITE opened at $558.44 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The stock has a market capitalization of $39.87 billion, a P/E ratio of 171.30 and a beta of 1.38. The firm’s 50-day moving average is $482.89 and its two-hundred day moving average is $312.07. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $783.80.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same period last year, the business earned $0.42 earnings per share. The business’s revenue for the quarter was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Key Stories Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Company reported strong Q2 results and aggressive forward revenue guidance (management guided roughly $780–$830M next quarter) and highlighted accelerating AI infrastructure demand; NVIDIA committed ~$2B and multi‑year supply deals that validate lasers/optics as strategic AI infrastructure and support higher margins and backlog (optical circuit switch backlog >$400M). Lumentum’s Massive Run Now Faces A Reality Check
• Positive Sentiment: Major broker notes and analyst commentary have turned bullish, citing the company’s AI exposure and improving fundamentals as reasons for upside. Upgraded/positive analyst commentary can sustain interest from institutional buyers. Analysts Are Bullish on Top Technology Stocks: Jack Henry & Associates (JKHY), Lumentum Holdings (LITE)
• Positive Sentiment: Market pieces note the rally and AI narrative driving momentum—coverage pointing out that LITE is up materially since earnings, which supports continued investor interest and momentum flows. Lumentum Holdings Inc. (LITE) Rallies on AI-Driven Growth Enthusiasm
• Neutral Sentiment: Several analytical/summary articles explain why LITE has climbed (earnings beat, guidance, pipeline) and review estimates — useful for context but not new catalysts. These pieces highlight momentum and valuation questions. Why Is Lumentum (LITE) Up 46.2% Since Last Earnings Report?
• Negative Sentiment: Industry/competitive news: Broadcom’s moves supporting attached copper optics helped some competitors (e.g., Credo) gain, while Lumentum and peers saw near‑term weakness—this raises the risk of product/competitive pressure in certain segments. Credo rises, Lumentum, Coherent fall, as Broadcom puts weight behind attached copper
• Negative Sentiment: Insider selling was reported recently and has already been linked with a share price pullback; large insider transactions can trigger short‑term selling and signal near‑term liquidity/positioning shifts. Lumentum (NASDAQ:LITE) Shares Down 11.2% on Insider Selling

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.