Lumentum Holdings Inc. $LITE Shares Sold by Eventide Asset Management LLC

Eventide Asset Management LLC trimmed its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 35.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,957 shares of the technology company’s stock after selling 2,700 shares during the quarter. Eventide Asset Management LLC’s holdings in Lumentum were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC lifted its stake in Lumentum by 16.0% during the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock valued at $120,000 after buying an additional 45 shares in the last quarter. Allworth Financial LP lifted its stake in Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock valued at $128,000 after buying an additional 47 shares in the last quarter. UMB Bank n.a. lifted its stake in Lumentum by 5.2% during the fourth quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock valued at $357,000 after buying an additional 48 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Lumentum by 0.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock valued at $5,208,000 after buying an additional 60 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC lifted its stake in Lumentum by 0.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock valued at $2,532,000 after buying an additional 64 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the sale, the director owned 8,400 shares of the company’s stock, valued at $7,224,000. The trade was a 32.26% 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, insider Vincent Retort sold 3,183 shares of the business’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 $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This represents a 3.43% 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. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Citic Securities upped their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Morgan Stanley upped their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus upped their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

NASDAQ:LITE opened at $921.56 on Monday. The stock’s 50 day moving average price is $897.64 and its 200 day moving average price is $632.04. Lumentum Holdings Inc. has a 52 week low of $81.93 and a 52 week high of $1,085.68. The company has a market capitalization of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal 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.