Lumentum Holdings Inc. $LITE Shares Sold by Providence First Trust Co

Providence First Trust Co lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 69.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 462 shares of the technology company’s stock after selling 1,027 shares during the quarter. Providence First Trust Co’s holdings in Lumentum were worth $449,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Red Spruce Capital LLC lifted its holdings in Lumentum by 0.4% in the third quarter. Red Spruce Capital LLC now owns 3,200 shares of the technology company’s stock valued at $3,108,000 after buying an additional 12 shares during the period. CYBER HORNET ETFs LLC boosted its stake in Lumentum by 7.2% in the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock valued at $179,000 after acquiring an additional 14 shares during the last quarter. Hilltop National Bank boosted its stake in Lumentum by 26.8% in the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after acquiring an additional 15 shares during the last quarter. Sachetta LLC grew its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the period. Finally, TrinityBridge Ltd grew its holdings in Lumentum by 35.8% during the 3rd quarter. TrinityBridge Ltd now owns 72 shares of the technology company’s stock worth $70,000 after acquiring an additional 19 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the completion of the transaction, the chief financial officer owned 75,074 shares of the company’s stock, valued at $78,715,089. The trade was a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total transaction of $290,115.00. Following the completion of the sale, the insider owned 108,320 shares of the company’s stock, valued at approximately $102,362,400. This represents a 0.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 94,496 shares of company stock worth $85,978,498. Company insiders own 0.28% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $538.59 on Friday. The stock has a market cap of $48.85 billion, a PE ratio of -6.84 and a beta of 1.64. The stock has a 50-day moving average of $894.13 and a 200-day moving average of $801.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.40. Lumentum Holdings Inc. has a one year low of $215.35 and a one year high of $1,143.00.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, topping the consensus estimate of $4.22 by $0.35. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.26 billion. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. Lumentum’s quarterly revenue was up 136.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.10 EPS. As a group, sell-side analysts expect that Lumentum Holdings Inc. will post 19.93 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the stock. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Mizuho set a $1,132.00 price target on Lumentum in a research note on Monday, November 2nd. Rosenblatt Securities reduced their price target on Lumentum from $1,300.00 to $900.00 and set a “buy” rating on the stock in a research report on Tuesday, November 3rd. Weiss Ratings cut Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. Finally, Citigroup lifted their price objective on Lumentum from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Monday, September 28th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and an average price target of $1,081.61.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Some commentary sees Lumentum as potentially undervalued after Marvell agreed to acquire it, arguing the deal highlights demand for optical interconnects—a potential bottleneck in AI data centers. Lumentum’s shares also rose alongside a broader recovery in optical stocks. Article: Lumentum Holdings Could Be 90% Undervalued Following The Marvell Deal Article: Optical stocks rally
• Neutral Sentiment: The proposed all-stock Marvell deal values Lumentum at about $115 billion, with Lumentum shareholders set to receive 4.5 Marvell shares per share. That is not a fixed cash offer: its implied value will move with Marvell’s stock. The transaction is expected to take time to close and remains subject to regulatory approval. Article: Marvell Agreed to Pay $1,132 a Share for Lumentum
• Positive Sentiment: A bullish technical view says Lumentum is oversold after a steep decline, while analysts’ earnings-estimate increases could support a recovery. Article: Lumentum is Poised for a Turnaround
• Negative Sentiment: Recent pressure reflects a broader sell-off in AI and optical shares, alongside analyst downgrades and lower price expectations. The sharp recent declines suggest investors remain cautious despite the proposed acquisition and the latest rebound. Article: Lumentum Shares Down After Analyst Downgrade Article: AI optical stocks slide

Lumentum Company Profile

Lumentum Holdings Inc develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks.

The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world.

Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.