Lumentum Holdings Inc. $LITE Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 2.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,791 shares of the technology company’s stock after selling 3,035 shares during the quarter. King Luther Capital Management Corp’s holdings in Lumentum were worth $16,725,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in LITE. Hood River Capital Management LLC raised its holdings in shares of Lumentum by 82.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Norges Bank acquired a new position in Lumentum in the second quarter worth approximately $82,983,000. FengHe Fund Management Pte. Ltd. bought a new position in shares of Lumentum in the third quarter valued at $71,771,000. Channing Capital Management LLC lifted its position in shares of Lumentum by 61.0% during the 2nd quarter. Channing Capital Management LLC now owns 948,334 shares of the technology company’s stock valued at $90,149,000 after acquiring an additional 359,394 shares during the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Lumentum by 7,168.8% during the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after acquiring an additional 357,367 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Price Performance

NASDAQ LITE opened at $635.64 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The firm has a market capitalization of $45.38 billion, a price-to-earnings ratio of 194.98 and a beta of 1.51. The company has a 50 day simple moving average of $412.23 and a 200-day simple moving average of $267.39. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $636.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same quarter in the prior year, the business earned $0.42 EPS. The company’s revenue for the quarter was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on LITE shares. B. Riley Financial raised Lumentum from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on Lumentum to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Rosenblatt Securities upped their price objective on shares of Lumentum to $580.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Stifel Nicolaus lifted their target price on shares of Lumentum to $480.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Raymond James Financial downgraded shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target for the company. in a research report on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $447.38.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,157 shares of the 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 completion of the sale, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Vincent Retort sold 3,441 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the transaction, the insider owned 95,975 shares in the company, valued at $52,381,235.50. This trade represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 60,473 shares of company stock worth $35,186,972. Corporate insiders own 0.43% of the company’s stock.

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.