Boothbay Fund Management LLC Decreases Stock Holdings in Lumentum Holdings Inc. $LITE

Boothbay Fund Management LLC trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 78.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,876 shares of the technology company’s stock after selling 169,039 shares during the quarter. Boothbay Fund Management LLC owned 0.06% of Lumentum worth $16,909,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Lumentum by 16.0% in the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after buying an additional 45 shares during the period. Allworth Financial LP increased its stake in shares of Lumentum by 6.4% in the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock worth $128,000 after buying an additional 47 shares during the period. UMB Bank n.a. increased its stake in shares of Lumentum by 5.2% in the fourth quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock worth $357,000 after buying an additional 48 shares during the period. Truvestments Capital LLC increased its stake in shares of Lumentum by 300.0% in the fourth 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 period. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Lumentum by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock worth $5,208,000 after buying an additional 60 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a report on Wednesday, May 6th. Northland Securities lifted their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, TD Cowen lifted their price target on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

Shares of LITE stock opened at $869.98 on Thursday. Lumentum Holdings Inc. has a 12 month low of $86.57 and a 12 month high of $1,085.68. 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 current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $903.17 and its 200-day moving average price is $644.68.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS 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 analysts’ expectations of $810.21 million. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s quarterly revenue was up 90.1% on a year-over-year basis. 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.

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.