Ethic Inc. Sells 3,725 Shares of Lumentum Holdings Inc. $LITE

Ethic Inc. lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 29.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 8,939 shares of the technology company’s stock after selling 3,725 shares during the period. Ethic Inc.’s holdings in Lumentum were worth $1,454,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in LITE. Leeward Investments LLC MA increased its stake in shares of Lumentum by 14.8% in the second quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock valued at $49,092,000 after buying an additional 66,541 shares in the last quarter. Schroder Investment Management Group lifted its position in Lumentum by 1.9% during the 2nd quarter. Schroder Investment Management Group now owns 881,813 shares of the technology company’s stock worth $83,825,000 after buying an additional 16,200 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Lumentum by 198.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,229 shares of the technology company’s stock worth $20,051,000 after acquiring an additional 81,906 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in Lumentum by 45.7% in the 2nd quarter. Northwest & Ethical Investments L.P. now owns 10,200 shares of the technology company’s stock valued at $966,000 after acquiring an additional 3,200 shares in the last quarter. Finally, Corton Capital Inc. bought a new position in shares of Lumentum in the second quarter worth about $272,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In other news, Director Isaac Hosojiro Harris sold 7,200 shares of the business’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $243.32, for a total value of $1,751,904.00. Following the completion of the transaction, the director owned 9,764 shares of the company’s stock, valued at $2,375,776.48. The trade was a 42.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew Joseph Sepe sold 4,232 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $239.63, for a total value of $1,014,114.16. Following the sale, the chief accounting officer directly owned 43,544 shares in the company, valued at $10,434,448.72. The trade was a 8.86% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,612 shares of company stock valued at $7,317,398. 0.43% of the stock is currently owned by company insiders.

Lumentum Trading Up 4.8%

NASDAQ LITE opened at $386.11 on Friday. Lumentum Holdings Inc. has a 12 month low of $45.65 and a 12 month high of $401.60. The stock has a 50-day simple moving average of $299.44 and a 200 day simple moving average of $187.60. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 2.77. The company has a market capitalization of $27.38 billion, a PE ratio of 259.14 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. The company had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The company’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on LITE shares. Rosenblatt Securities increased their price target on shares of Lumentum to $380.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Wolfe Research restated an “outperform” rating and set a $240.00 target price on shares of Lumentum in a research report on Wednesday, November 5th. Morgan Stanley raised their price target on Lumentum from $190.00 to $304.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Finally, Susquehanna lifted their price objective on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.13.

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.