Florida Financial Advisors LLC Sells 1,267 Shares of Lumentum Holdings Inc. $LITE

Florida Financial Advisors LLC lowered its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,175 shares of the technology company’s stock after selling 1,267 shares during the quarter. Florida Financial Advisors LLC’s holdings in Lumentum were worth $2,934,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after buying an additional 6,275 shares in the last quarter. Empowered Funds LLC raised its position in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC bought a new stake in shares of Lumentum during the second quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Lumentum in the second quarter worth $1,712,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In related news, insider Vincent Retort sold 3,183 shares of the firm’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 $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. 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 Lumentum stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Lumentum Trading Up 4.5%

LITE opened at $765.55 on Tuesday. The stock has a 50-day moving average of $859.31 and a 200 day moving average of $715.91. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12 month low of $97.55 and a 12 month high of $1,085.68. The firm has a market cap of $59.56 billion, a P/E ratio of 141.77 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of research reports. Craig Hallum upped their target price on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Barclays lifted their price target on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Northland Securities increased their price objective 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. Finally, Citigroup restated a “buy” rating on shares of Lumentum in a research report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,012.67.

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.