Lumentum Holdings Inc. $LITE Holdings Trimmed by Providence First Trust Co

Providence First Trust Co reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 69.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 462 shares of the technology company’s stock after selling 1,027 shares during the quarter. Providence First Trust Co’s holdings in Lumentum were worth $449,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Ariose Capital Management Ltd acquired a new stake in shares of Lumentum in the 3rd quarter valued at $9,523,000. Alta Advisers Ltd increased its position in shares of Lumentum by 110.4% during the 3rd quarter. Alta Advisers Ltd now owns 646 shares of the technology company’s stock worth $627,000 after purchasing an additional 339 shares in the last quarter. Glaxis Capital Management LLC acquired a new stake in shares of Lumentum during the 3rd quarter worth about $1,263,000. Kestra Advisory Services LLC increased its position in shares of Lumentum by 0.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 6,759 shares of the technology company’s stock worth $6,565,000 after purchasing an additional 25 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in Lumentum by 223.4% during the 3rd quarter. Commonwealth Equity Services LLC now owns 22,490 shares of the technology company’s stock valued at $21,844,000 after purchasing an additional 15,536 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Some commentary sees Lumentum as potentially undervalued after Marvell agreed to acquire it, arguing the deal highlights demand for optical interconnects—a potential bottleneck in AI data centers. Lumentum’s shares also rose alongside a broader recovery in optical stocks. Article: Lumentum Holdings Could Be 90% Undervalued Following The Marvell Deal Article: Optical stocks rally
• Neutral Sentiment: The proposed all-stock Marvell deal values Lumentum at about $115 billion, with Lumentum shareholders set to receive 4.5 Marvell shares per share. That is not a fixed cash offer: its implied value will move with Marvell’s stock. The transaction is expected to take time to close and remains subject to regulatory approval. Article: Marvell Agreed to Pay $1,132 a Share for Lumentum
• Positive Sentiment: A bullish technical view says Lumentum is oversold after a steep decline, while analysts’ earnings-estimate increases could support a recovery. Article: Lumentum is Poised for a Turnaround
• Negative Sentiment: Recent pressure reflects a broader sell-off in AI and optical shares, alongside analyst downgrades and lower price expectations. The sharp recent declines suggest investors remain cautious despite the proposed acquisition and the latest rebound. Article: Lumentum Shares Down After Analyst Downgrade Article: AI optical stocks slide

Analyst Upgrades and Downgrades

LITE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. B. Riley Financial lowered shares of Lumentum from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $1,142.00 to $770.00 in a report on Tuesday, November 3rd. Mizuho set a $1,132.00 target price on shares of Lumentum in a research note on Monday, November 2nd. Stifel Nicolaus set a $806.00 target price on Lumentum in a report on Monday, November 2nd. Finally, Susquehanna reduced their target price on Lumentum from $1,100.00 to $950.00 and set a “positive” rating on the stock in a report on Tuesday, November 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and a consensus target price of $1,081.61.

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 24,542 shares of the stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the transaction, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. This trade represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of Lumentum stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the completion of the sale, the insider directly owned 108,320 shares of the company’s stock, valued at $102,362,400. This trade represents a 0.28% 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. In the last three months, insiders sold 94,496 shares of company stock valued at $85,978,498. 0.28% of the stock is currently owned by company insiders.

Lumentum Stock Performance

Lumentum stock opened at $538.59 on Friday. The stock has a 50-day simple moving average of $894.13 and a 200 day simple moving average of $801.60. The stock has a market capitalization of $48.85 billion, a price-to-earnings ratio of -6.84 and a beta of 1.64. The company has a quick ratio of 1.40, a current ratio of 1.61 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $215.35 and a 12-month high of $1,143.00.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $4.57 EPS for the quarter, topping analysts’ consensus estimates of $4.22 by $0.35. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The company’s revenue was up 136.5% on a year-over-year basis. On average, research analysts anticipate that Lumentum Holdings Inc. will post 19.93 earnings per share for the current fiscal year.

Lumentum Company Profile

Lumentum Holdings Inc develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks.

The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world.

Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.