Entropy Technologies LP Cuts Stock Holdings in Lumentum Holdings Inc. $LITE

Entropy Technologies LP decreased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 46.5% during the fourth quarter, Holdings Channel reports. The firm owned 15,031 shares of the technology company’s stock after selling 13,087 shares during the quarter. Entropy Technologies LP’s holdings in Lumentum were worth $5,540,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in Lumentum during the fourth quarter valued at approximately $28,000. Triumph Capital Management bought a new position in Lumentum during the fourth quarter valued at approximately $30,000. Harbour Investments Inc. lifted its position in Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after purchasing an additional 81 shares during the period. Chesapeake Asset Management LLC bought a new position in Lumentum during the fourth quarter valued at approximately $37,000. Finally, BOCHK Asset Management Ltd bought a new position in Lumentum during the fourth quarter valued at approximately $37,000. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LITE shares. UBS Group increased their price objective on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Rosenblatt Securities increased their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Barclays increased their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Citic Securities increased their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Finally, TD Cowen increased their price objective on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Insiders Place Their Bets

In other Lumentum news, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

Lumentum Stock Up 3.6%

LITE opened at $921.56 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1-year low of $81.93 and a 1-year high of $1,085.68. The company has a market capitalization of $71.70 billion, a PE ratio of 170.66 and a beta of 1.47. The firm’s 50 day simple moving average is $897.64 and its two-hundred day simple moving average is $629.72.

Lumentum (NASDAQ:LITE) last released its quarterly 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 net margin of 17.61% and a return on equity of 24.81%. The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

Lumentum 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.