Lumentum Holdings Inc. $LITE Stock: Robeco Institutional Asset Management B.V. Cuts Holdings

Robeco Institutional Asset Management B.V. cut its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 49,402 shares of the technology company’s stock after selling 3,669 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Lumentum were worth $47,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Diversify Advisory Services LLC raised its holdings in shares of Lumentum by 13.0% during the third quarter. Diversify Advisory Services LLC now owns 3,873 shares of the technology company’s stock valued at $3,762,000 after acquiring an additional 447 shares during the period. Compound Global Advisors LLC boosted its stake in Lumentum by 233.3% in the 3rd quarter. Compound Global Advisors LLC now owns 200 shares of the technology company’s stock worth $194,000 after purchasing an additional 140 shares during the period. Blue Jean Financial LLC acquired a new position in Lumentum in the 3rd quarter worth approximately $3,157,000. Parkway Wealth Management Group LLC purchased a new position in Lumentum during the 3rd quarter worth approximately $3,931,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Lumentum by 10.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,737 shares of the technology company’s stock worth $11,400,000 after purchasing an additional 1,090 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on LITE. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lumentum in a research note on Monday, August 31st. They set a “buy” rating and a $1,200.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 12th. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Morgan Stanley upped their price target on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Wolfe Research reissued an “outperform” rating on shares of Lumentum in a research note on Friday, August 21st. Sixteen research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and an average price target of $1,080.83.

Insider Buying and Selling at Lumentum

In related news, CEO Michael E. Hurlston sold 548 shares of the company’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the sale, the chief executive officer directly owned 186,951 shares in the company, valued at approximately $179,222,445.66. This represents a 0.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jae Kim sold 12,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the transaction, the senior vice president directly owned 37,804 shares in the company, valued at $32,230,934.32. The trade was a 24.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 94,496 shares of company stock worth $85,978,498 in the last ninety days. Company insiders own 0.28% of the company’s stock.

Lumentum Price Performance

Shares of LITE opened at $752.54 on Friday. The firm has a market cap of $68.17 billion, a PE ratio of -9.15 and a beta of 1.53. The firm’s 50 day moving average price is $927.74 and its 200 day moving average price is $878.60. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. Lumentum Holdings Inc. has a twelve month low of $157.40 and a twelve month high of $1,143.00.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company’s revenue was up 109.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

About Lumentum

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.