Lumentum Holdings Inc. $LITE Shares Sold by Penn Capital Management Company LLC

Penn Capital Management Company LLC cut its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 37.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,330 shares of the technology company’s stock after selling 3,138 shares during the period. Penn Capital Management Company LLC’s holdings in Lumentum were worth $1,991,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Lumentum during the fourth quarter worth about $28,000. Harbour Investments Inc. raised its stake in Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after purchasing an additional 81 shares during the last quarter. Chesapeake Asset Management LLC acquired a new stake in shares of Lumentum in the fourth quarter valued at approximately $37,000. BOCHK Asset Management Ltd acquired a new stake in shares of Lumentum in the fourth quarter valued at approximately $37,000. Finally, Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Lumentum in the fourth quarter valued at about $55,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Northland Securities set a $1,000.00 target price on Lumentum in a research report on Monday, April 20th. UBS Group lifted their target price on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Citigroup boosted their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.

Insider Activity

In related news, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the transaction, the director directly owned 13,959 shares of the company’s stock, valued at $13,702,712.76. The trade was a 46.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 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 $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 41,146 shares of company stock worth $37,667,478 over the last three months. Company insiders own 0.43% of the company’s stock.

Lumentum Trading Down 3.8%

LITE opened at $910.81 on Wednesday. Lumentum Holdings Inc. has a 12 month low of $71.04 and a 12 month high of $1,085.68. The stock has a market capitalization of $70.86 billion, a price-to-earnings ratio of 168.67 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business has a fifty day moving average price of $849.55 and a 200 day moving average price of $572.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping 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 firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the previous year, the firm posted $0.57 EPS. Lumentum’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. Sell-side analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

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.