Lumentum Holdings Inc. $LITE Shares Sold by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC reduced its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 60.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 927 shares of the technology company’s stock after selling 1,435 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Lumentum were worth $651,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of LITE. EverSource Wealth Advisors LLC increased its holdings in Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Lumentum during the 4th quarter worth about $28,000. Truvestments Capital LLC lifted its holdings in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Lumentum during the 4th quarter worth about $30,000. Finally, Danske Bank A S acquired a new position in shares of Lumentum during the 3rd quarter worth about $33,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the sale, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the sale, the insider owned 81,488 shares of the company’s stock, valued at approximately $77,735,477.60. This represents a 3.79% decrease in their position. The SEC filing for this sale provides additional information. 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 over the last 90 days. 0.43% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on LITE shares. Raymond James Financial reissued an “outperform” rating and set a $1,014.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. TD Cowen upped their price target on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Citic Securities increased their price target on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Loop Capital raised their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Finally, Rosenblatt Securities raised their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Stock Performance

Shares of LITE stock opened at $818.73 on Friday. The stock’s 50-day moving average is $901.03 and its two-hundred day moving average is $668.39. 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 Holdings Inc. has a 1 year low of $88.37 and a 1 year high of $1,085.68. The firm has a market cap of $63.70 billion, a price-to-earnings ratio of 151.62 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s quarterly revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts predict that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

About Lumentum

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.