Wealth High Governance Capital Ltda Trims Position in Lumentum Holdings Inc. $LITE

Wealth High Governance Capital Ltda reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 60.0% during the first quarter, Holdings Channel reports. The firm owned 14,016 shares of the technology company’s stock after selling 21,060 shares during the quarter. Lumentum makes up approximately 3.0% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 15th biggest position. Wealth High Governance Capital Ltda’s holdings in Lumentum were worth $9,850,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership raised its holdings in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in shares of Lumentum in the fourth quarter worth $474,495,000. Value Aligned Research Advisors LLC purchased a new position in Lumentum in the 4th quarter worth about $432,062,000. Situational Awareness LP lifted its position in Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares during the period. Finally, Aspex Management HK Ltd bought a new position in shares of Lumentum during the 4th quarter valued at $251,363,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Transactions at Lumentum

In related news, Director Ian Small sold 4,954 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, 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 SEC, which is available through this link. Also, Director Brian Lillie sold 11,951 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the sale, the director directly owned 13,959 shares of the company’s stock, valued at $13,702,712.76. The trade was a 46.13% 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. In the last quarter, insiders sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Loop Capital boosted their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Northland Securities boosted their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Finally, Zacks Research downgraded shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Price Performance

Shares of LITE stock opened at $713.94 on Monday. The company’s 50-day simple moving average is $821.07 and its two-hundred day simple moving average is $739.34. The company has a market capitalization of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.50. Lumentum Holdings Inc. has a one year low of $101.61 and a one year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current 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.