Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) SVP Jae Kim sold 1,422 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the completion of the transaction, the senior vice president owned 32,333 shares in the company, valued at $30,844,065.35. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Jae Kim also recently made the following trade(s):
- On Monday, May 11th, Jae Kim sold 1,933 shares of Lumentum stock. The shares were sold at an average price of $950.99, for a total transaction of $1,838,263.67.
Lumentum Stock Performance
Shares of Lumentum stock opened at $890.09 on Wednesday. The firm has a market capitalization of $69.25 billion, a P/E ratio of 164.83 and a beta of 1.53. Lumentum Holdings Inc. has a 52 week low of $71.04 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average is $821.27 and its two-hundred day moving average is $547.23.
Lumentum (NASDAQ:LITE - Get Free Report) last announced 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. The company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm's revenue was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.
Hedge Funds Weigh In On Lumentum
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Lumentum by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company's stock valued at $1,217,930,000 after buying an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Lumentum by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock valued at $683,661,000 after buying an additional 291,591 shares during the last quarter. Geode Capital Management LLC grew its position in Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock valued at $521,563,000 after buying an additional 123,265 shares during the last quarter. Situational Awareness LP grew its position in Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after buying an additional 880,800 shares during the last quarter. Finally, Norges Bank purchased a new position in Lumentum in the 4th quarter valued at $474,495,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.
Lumentum News Roundup
Here are the key news stories impacting Lumentum this week:
- Positive Sentiment: Lumentum was added to the Nasdaq-100, which can drive buying from index funds and ETFs and improve the stock’s visibility with institutional investors. Lumentum (LITE) Joins Nasdaq-100 Index
- Positive Sentiment: Broker-rating upgrades cited Lumentum as a stock worth watching, reinforcing the bullish view that demand tied to AI infrastructure remains a long-term tailwind. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
- Neutral Sentiment: Lumentum presented at JPMorgan’s Global Technology, Media and Communications Conference, but no major new financial guidance or surprises were highlighted in the article. Lumentum Holdings Inc. (LITE) Presents at J.P. Morgan Conference Transcript
- Neutral Sentiment: NVIDIA’s latest portfolio filing was discussed in relation to Lumentum, but the piece did not indicate a direct material change in Lumentum’s fundamentals. A Deep Dive Into NVIDIA’s Latest Portfolio Moves (LITE)
- Negative Sentiment: Shares of Lumentum and other AI optics names fell as investors took profits across the sector after a strong run. Applied Optoelectronics Slumps 10%, Lumentum Dives 9%, Coherent Drops 6% as AI Optics Profit-Takers Strike
- Negative Sentiment: A prominent AI investor reportedly exited stakes in Lumentum, adding to pressure on sentiment around the stock. Lumentum, Coherent Drop After Prominent AI Investor Sells Stakes
- Negative Sentiment: Three insiders, including the CFO, SVP, and another executive, sold shares under pre-arranged 10b5-1 plans to cover tax withholding tied to equity vesting, which can weigh on short-term sentiment even if the sales were routine. SEC filing for Wajid Ali sale
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on LITE shares. Morgan Stanley increased their price objective on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Needham & Company LLC increased their price objective on Lumentum from $880.00 to $1,040.00 and gave the company a "buy" rating in a report on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on Lumentum in a report on Wednesday, May 6th. Finally, BNP Paribas Exane increased their price objective on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $1,012.43.
Check Out Our Latest Research Report on Lumentum
About Lumentum
(
Get Free Report)
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.
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