North Growth Management Ltd. Sells 64,000 Shares of Lumentum Holdings Inc. $LITE

North Growth Management Ltd. decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 29.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 152,000 shares of the technology company’s stock after selling 64,000 shares during the period. Lumentum makes up approximately 4.4% of North Growth Management Ltd.’s investment portfolio, making the stock its 4th largest holding. North Growth Management Ltd. owned 0.21% of Lumentum worth $24,794,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gateway Investment Advisers LLC lifted its holdings in shares of Lumentum by 86.3% during the third quarter. Gateway Investment Advisers LLC now owns 9,575 shares of the technology company’s stock worth $1,558,000 after purchasing an additional 4,435 shares during the period. Ariose Capital Management Ltd purchased a new position in shares of Lumentum in the 3rd quarter valued at about $15,882,000. Global Retirement Partners LLC raised its stake in shares of Lumentum by 651.4% during the 3rd quarter. Global Retirement Partners LLC now owns 2,209 shares of the technology company’s stock worth $359,000 after buying an additional 1,915 shares during the period. Altfest L J & Co. Inc. purchased a new position in Lumentum during the third quarter valued at $606,000. Finally, Braun Stacey Associates Inc. purchased a new position in Lumentum during the third quarter valued at $15,125,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

LITE stock opened at $386.11 on Friday. The business has a fifty day moving average of $299.44 and a two-hundred day moving average of $188.31. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $401.60. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 2.77. The stock has a market cap of $27.38 billion, a price-to-earnings ratio of 259.14 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The business had revenue of $533.80 million during the quarter, compared to analysts’ expectations of $525.10 million. During the same period last year, the business earned $0.18 earnings per share. The business’s revenue for the quarter 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 earnings per share for the current year.

Insider Activity

In related news, CAO Matthew Joseph Sepe sold 4,232 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $239.63, for a total transaction of $1,014,114.16. Following the completion of the transaction, the chief accounting officer directly owned 43,544 shares in the company, valued at $10,434,448.72. This trade represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Julia Suzanne Johnson sold 10,000 shares of Lumentum stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the transaction, the director directly owned 12,037 shares of the company’s stock, valued at approximately $3,254,684.43. This represents a 45.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,612 shares of company stock worth $7,317,398 in the last quarter. Insiders own 0.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LITE. B. Riley upped their price target on shares of Lumentum from $83.00 to $147.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 5th. Barclays boosted their price objective on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 6th. Stifel Nicolaus set a $220.00 target price on Lumentum in a research report on Wednesday, November 5th. Susquehanna lifted their price target on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Finally, JPMorgan Chase & Co. increased their price objective on Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $222.13.

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.