Edgestream Partners L.P. Lowers Stock Position in Lumentum Holdings Inc. $LITE

Edgestream Partners L.P. lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 27.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,139 shares of the technology company’s stock after selling 4,307 shares during the quarter. Edgestream Partners L.P.’s holdings in Lumentum were worth $7,828,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the first quarter worth about $25,000. Sachetta LLC grew its position in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the 4th quarter valued at about $28,000. Truvestments Capital LLC grew its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. Finally, Triumph Capital Management purchased a new position in shares of Lumentum in the 4th quarter valued at about $30,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling at Lumentum

In related 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 transaction of $11,731,579.64. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction that occurred on 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

Lumentum Stock Down 7.6%

LITE opened at $602.35 on Thursday. Lumentum Holdings Inc. has a twelve month low of $101.61 and a twelve month high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The company has a 50-day moving average price of $831.15 and a 200 day moving average price of $734.30. The company has a market cap of $46.86 billion, a PE ratio of 111.55 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the company posted $0.57 EPS. Lumentum’s quarterly 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. Sell-side analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LITE. BNP Paribas Exane upped their price target on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Raymond James Financial reissued an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Morgan Stanley boosted their price objective on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. UBS Group upped their target price on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research report on Tuesday, June 9th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,012.67.

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.