Lumentum Holdings Inc. $LITE Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 38.3% in the 4th quarter, Holdings Channel reports. The firm owned 119,303 shares of the technology company’s stock after selling 74,142 shares during the period. Pinnacle Associates Ltd.’s holdings in Lumentum were worth $43,974,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LITE. EverSource Wealth Advisors LLC increased its holdings in Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in Lumentum in the 4th quarter valued at approximately $28,000. Danske Bank A S acquired a new stake in Lumentum in the 3rd quarter valued at approximately $33,000. Chesapeake Asset Management LLC acquired a new stake in Lumentum in the 4th quarter valued at approximately $37,000. Finally, BOCHK Asset Management Ltd acquired a new stake in Lumentum in the 4th quarter valued at approximately $37,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Needham & Company LLC lifted their target price on shares of Lumentum from $880.00 to $1,040.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Rosenblatt Securities lifted their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Finally, UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.43.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, a major catalyst that can trigger buying from index funds and other benchmark-tracking investors. Lumentum Joins the Nasdaq-100 Index®, Achieving New Milestone in Global Growth
• Positive Sentiment: Recent earnings momentum remains strong, with Lumentum beating estimates and issuing upbeat guidance tied to AI and cloud data center demand. Lumentum Stock Rises 6% After Q3 Earnings: Should You Hold or Fold?
• Positive Sentiment: Wall Street continues to raise expectations: Northland Securities boosted future EPS estimates, and Citic Securities reportedly lifted its price target to $1,186, reinforcing the bull case for further growth. Lumentum (NASDAQ:LITE) Given New $1,186.00 Price Target at Citic Securities
• Neutral Sentiment: Several recent pieces note that Lumentum’s share price has already had a huge run, so some investors are now debating whether the stock is getting stretched after the rally.
• Neutral Sentiment: Commentary also points to potential supply constraints and a premium valuation, which may limit near-term upside even though demand remains very strong.
• Negative Sentiment: Insider selling by executives and directors may create some caution, though the sales were disclosed as part of pre-arranged trading plans and do not necessarily signal a change in fundamentals. Lumentum (NASDAQ:LITE) SVP Sells $1,838,263.67 in Stock

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This trade represents a 7.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Yuen Wupen sold 3,157 shares of Lumentum stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the sale, the insider directly owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,333 shares of company stock worth $24,049,017 over the last three months. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

Shares of LITE stock opened at $1,030.10 on Thursday. 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 52 week low of $71.04 and a 52 week high of $1,085.68. The stock has a market capitalization of $80.14 billion, a PE ratio of 190.76 and a beta of 1.53. The firm has a 50 day moving average of $798.01 and a two-hundred day moving average of $526.37.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 6.49 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.