Polymer Capital Management HK LTD Trims Stock Holdings in Lumentum Holdings Inc. $LITE

Polymer Capital Management HK LTD lowered its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 73.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,231 shares of the technology company’s stock after selling 30,391 shares during the period. Polymer Capital Management HK LTD’s holdings in Lumentum were worth $4,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LITE. Parallel Advisors LLC raised its position in shares of Lumentum by 16.0% during the 4th quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after purchasing an additional 45 shares during the period. Allworth Financial LP raised its position in shares of Lumentum by 6.4% during the 3rd quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock worth $128,000 after purchasing an additional 47 shares during the period. Oregon Public Employees Retirement Fund raised its position in shares of Lumentum by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock worth $5,208,000 after purchasing an additional 60 shares during the period. Northwestern Mutual Investment Management Company LLC raised its position in shares of Lumentum by 0.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock worth $2,532,000 after purchasing an additional 64 shares during the period. Finally, IFP Advisors Inc raised its position in shares of Lumentum by 9.6% during the 4th quarter. IFP Advisors Inc now owns 822 shares of the technology company’s stock worth $303,000 after purchasing an additional 72 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research reports. Rosenblatt Securities increased their price target on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research report on Tuesday. Craig Hallum increased their price target on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Loop Capital increased their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Stock Up 3.6%

Shares of LITE stock opened at $921.56 on Friday. Lumentum Holdings Inc. has a 1 year low of $81.93 and a 1 year high of $1,085.68. The stock has a market cap of $71.70 billion, a PE ratio of 170.66 and a beta of 1.47. The business’s fifty day moving average is $897.64 and its 200-day moving average is $629.72. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $810.21 million. During the same period last year, the firm earned $0.57 EPS. The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 2,487 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 transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by insiders.

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.