Lumentum Holdings Inc. $LITE Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 37.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,474 shares of the technology company’s stock after selling 1,500 shares during the quarter. Kimelman & Baird LLC’s holdings in Lumentum were worth $912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in LITE. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after buying an additional 1,545,199 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after buying an additional 871,249 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Lumentum during the third quarter valued at approximately $136,401,000. WT Asset Management Ltd raised its holdings in shares of Lumentum by 170.0% during the third quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company’s stock valued at $115,558,000 after buying an additional 447,208 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Lumentum by 7,168.8% during the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after buying an additional 357,367 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Northland Securities set a $1,000.00 target price on Lumentum in a report on Monday, April 20th. TD Cowen boosted their target price on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Needham & Company LLC boosted their target price on Lumentum from $880.00 to $1,040.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, Stifel Nicolaus boosted their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,012.43.

Insiders Place Their Bets

In other Lumentum news, Director Pamela Fletcher sold 1,578 shares of the business’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $940.82, for a total transaction of $1,484,613.96. Following the completion of the transaction, the director owned 7,406 shares of the company’s stock, valued at $6,967,712.92. The trade was a 17.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,933 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $950.99, for a total transaction of $1,838,263.67. Following the transaction, the senior vice president directly owned 35,114 shares of the company’s stock, valued at approximately $33,393,062.86. This represents a 5.22% 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. Insiders have sold 25,890 shares of company stock worth $23,539,466 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

Lumentum Trading Down 8.8%

Lumentum stock opened at $884.98 on Tuesday. The company’s fifty day simple moving average is $814.64 and its 200-day simple moving average is $542.47. 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 12 month low of $71.04 and a 12 month high of $1,085.68. The stock has a market cap of $68.85 billion, a P/E ratio of 163.89 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last posted 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 business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the previous year, the company posted $0.57 EPS. Lumentum’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

Lumentum Company 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.