Lumentum Holdings Inc. $LITE is 1492 Capital Management LLC’s 5th Largest Position

1492 Capital Management LLC decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 25.3% in the first quarter, Holdings Channel.com reports. The firm owned 8,988 shares of the technology company’s stock after selling 3,050 shares during the period. Lumentum comprises 2.4% of 1492 Capital Management LLC’s holdings, making the stock its 5th largest holding. 1492 Capital Management LLC’s holdings in Lumentum were worth $6,316,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC bought a new stake in Lumentum during the 1st quarter valued at approximately $25,000. Truvestments Capital LLC raised its stake in 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 purchasing an additional 57 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum in the 4th quarter valued at $28,000. Triumph Capital Management bought a new stake in Lumentum in the 4th quarter valued at $30,000. Finally, Harbour Investments Inc. grew its position in Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $818.73 on Friday. The firm has a market capitalization of $63.70 billion, a PE ratio of 151.62 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $88.37 and a 12-month high of $1,085.68. The firm has a 50-day moving average price of $901.03 and a 200 day moving average price of $668.39.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data 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 return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same period in the previous year, the business earned $0.57 earnings per share. 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. Research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the sale, the insider owned 81,488 shares of the company’s stock, valued at $77,735,477.60. The trade was a 3.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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, Director Ian Small sold 4,954 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director owned 21,008 shares in the company, valued at $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last three months. 0.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. TD Cowen boosted their price objective on shares of Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Loop Capital lifted their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Citic Securities upped their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Company 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.