Concentric Capital Strategies LP Has $5.96 Million Stock Holdings in Lumentum Holdings Inc. $LITE

Concentric Capital Strategies LP trimmed its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 71.4% in the fourth quarter, HoldingsChannel reports. The firm owned 16,175 shares of the technology company’s stock after selling 40,378 shares during the quarter. Concentric Capital Strategies LP’s holdings in Lumentum were worth $5,962,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of LITE. EverSource Wealth Advisors LLC grew its position in shares of 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 purchasing an additional 131 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum in the 4th quarter valued at $28,000. Truvestments Capital LLC grew its holdings in Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares in the last quarter. Triumph Capital Management bought a new position in Lumentum during the 4th quarter worth $30,000. Finally, Danske Bank A S acquired a new stake in shares of Lumentum during the third quarter worth $33,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Performance

NASDAQ LITE opened at $869.98 on Thursday. The firm’s fifty day moving average price is $903.17 and its two-hundred day moving average price is $644.68. The stock has a market cap of $67.68 billion, a PE ratio of 161.11 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 Holdings Inc. has a fifty-two week low of $86.57 and a fifty-two week high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s 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. On average, equities analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LITE shares. Stifel Nicolaus upped their price target 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. Rosenblatt Securities raised their target price 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. Raymond James Financial reiterated an “outperform” rating and issued a $1,014.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Finally, Citigroup raised their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were 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 in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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. Also, SVP Jae Kim sold 1,422 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents a 4.21% 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. In 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 corporate insiders.

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.