KBC Group NV Lowers Position in Lumentum Holdings Inc. $LITE

KBC Group NV cut its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 99.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,952 shares of the technology company’s stock after selling 500,997 shares during the period. KBC Group NV’s holdings in Lumentum were worth $186,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in shares of Lumentum by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the technology company’s stock valued at $1,854,000 after purchasing an additional 100 shares during the last quarter. Bessemer Group Inc. grew its position in Lumentum by 5.8% in the 2nd quarter. Bessemer Group Inc. now owns 2,473 shares of the technology company’s stock worth $234,000 after purchasing an additional 136 shares in the last quarter. Keynote Financial Services LLC grew its position in Lumentum by 1.8% in the 2nd quarter. Keynote Financial Services LLC now owns 8,396 shares of the technology company’s stock worth $798,000 after purchasing an additional 148 shares in the last quarter. State of Michigan Retirement System increased its stake in Lumentum by 1.2% in the 2nd quarter. State of Michigan Retirement System now owns 16,728 shares of the technology company’s stock valued at $1,590,000 after buying an additional 200 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its position in shares of Lumentum by 6.8% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,465 shares of the technology company’s stock worth $216,000 after buying an additional 220 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Trading Up 8.7%

Shares of Lumentum stock opened at $268.92 on Thursday. The stock has a market capitalization of $19.07 billion, a P/E ratio of 180.48 and a beta of 1.48. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $280.22. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37. The stock’s 50-day simple moving average is $186.34 and its 200 day simple moving average is $129.37.

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

Wall Street Analyst Weigh In

A number of brokerages recently commented on LITE. JPMorgan Chase & Co. increased their price target on Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. B. Riley lifted their target price on Lumentum from $83.00 to $147.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 5th. Citigroup initiated coverage on shares of Lumentum in a report on Friday, August 29th. They issued a “buy” rating and a $165.00 price target on the stock. Mizuho began coverage on shares of Lumentum in a report on Tuesday. They set an “outperform” rating and a $290.00 price objective for the company. Finally, Wall Street Zen lowered shares of Lumentum from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $196.88.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 7,200 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the sale, the director owned 9,764 shares in the company, valued at $2,375,776.48. This represents a 42.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Pamela Fletcher sold 579 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $250.00, for a total value of $144,750.00. Following the completion of the transaction, the director directly owned 9,889 shares of the company’s stock, valued at $2,472,250. The trade was a 5.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 37,965 shares of company stock worth $7,810,818. Company insiders own 0.43% of the company’s stock.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.