DigitalBridge Group Inc. Sells 140,770 Shares of Lumentum Holdings Inc. $LITE

DigitalBridge Group Inc. cut its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 37.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 231,287 shares of the technology company’s stock after selling 140,770 shares during the quarter. Lumentum accounts for approximately 2.9% of DigitalBridge Group Inc.’s holdings, making the stock its 13th biggest holding. DigitalBridge Group Inc. owned approximately 0.33% of Lumentum worth $37,633,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Federated Hermes Inc. raised its position in Lumentum by 7,168.8% in the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after purchasing an additional 357,367 shares during the period. FengHe Fund Management Pte. Ltd. purchased a new stake in Lumentum during the third quarter valued at about $71,771,000. Pacer Advisors Inc. bought a new position in shares of Lumentum during the third quarter valued at about $1,512,000. Headwater Capital Co Ltd bought a new position in shares of Lumentum during the third quarter valued at about $20,339,000. Finally, China Universal Asset Management Co. Ltd. purchased a new position in shares of Lumentum in the third quarter worth about $1,383,000. 94.05% of the stock is currently owned by institutional investors.

Insider Transactions at Lumentum

In related news, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction that occurred on Friday, February 6th. The stock was sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the sale, the director directly owned 6,057 shares in the company, valued at $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vincent Retort sold 45,026 shares of the company’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the sale, the insider directly owned 102,455 shares in the company, valued at approximately $60,583,690.60. The trade was a 30.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,775 shares of company stock worth $38,851,343 over the last quarter. Insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LITE shares. TD Cowen initiated coverage on Lumentum in a research note on Thursday, March 12th. They issued a “hold” rating and a $675.00 target price for the company. Needham & Company LLC boosted their price objective on Lumentum to $850.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Bank of America increased their price objective on Lumentum to $520.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Citigroup increased their price objective on Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, UBS Group lifted their target price on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $550.38.

Lumentum Stock Up 4.0%

Shares of Lumentum stock opened at $649.56 on Wednesday. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $783.80. The company has a market cap of $46.38 billion, a P/E ratio of 199.25 and a beta of 1.38. The company’s fifty day simple moving average is $520.42 and its two-hundred day simple moving average is $338.93.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.