Lumentum Holdings Inc. $LITE Shares Sold by Polymer Capital Management HK LTD

Polymer Capital Management HK LTD lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 73.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,231 shares of the technology company’s stock after selling 30,391 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Lumentum were worth $4,140,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in LITE. Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after acquiring an additional 114,714 shares during the last quarter. Andar Capital Management HK Ltd acquired a new stake in Lumentum during the fourth quarter worth about $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lumentum during the fourth quarter worth about $6,755,000. Headwater Capital Co Ltd acquired a new stake in Lumentum during the third quarter worth about $20,339,000. Finally, Maxi Investments CY Ltd acquired a new stake in Lumentum during the fourth quarter worth about $2,212,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Raymond James Financial restated an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research note on Tuesday. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. BNP Paribas Exane upped their price target on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Finally, Susquehanna upped their price target on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Insider Buying and Selling

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares of the company’s stock, valued at $30,844,065.35. The trade was a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $921.56 on Friday. Lumentum Holdings Inc. has a 1-year low of $81.93 and a 1-year high of $1,085.68. The business has a 50-day moving average of $897.64 and a 200-day moving average of $629.72. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The company has a market capitalization of $71.70 billion, a price-to-earnings ratio of 170.66 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate 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.