Lumentum Holdings Inc. $LITE Shares Sold by Kimelman & Baird LLC

Kimelman & Baird LLC lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 32.3% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,974 shares of the technology company’s stock after selling 1,900 shares during the period. Kimelman & Baird LLC’s holdings in Lumentum were worth $647,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LITE. Northwestern Mutual Investment Management Company LLC grew its holdings in Lumentum by 0.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock worth $2,532,000 after acquiring an additional 64 shares during the period. UMB Bank n.a. lifted its holdings in Lumentum by 11.2% in the third quarter. UMB Bank n.a. now owns 920 shares of the technology company’s stock valued at $150,000 after acquiring an additional 93 shares during the period. MAI Capital Management boosted its position in Lumentum by 27.0% in the 2nd quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after purchasing an additional 96 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in Lumentum by 0.7% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 15,171 shares of the technology company’s stock worth $2,468,000 after purchasing an additional 100 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Lumentum by 0.3% during the 3rd quarter. Amalgamated Bank now owns 31,871 shares of the technology company’s stock worth $5,186,000 after purchasing an additional 108 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ LITE opened at $649.56 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The stock’s 50 day simple moving average is $520.42 and its 200-day simple moving average is $338.93. The company has a market cap of $46.38 billion, a PE ratio of 199.25 and a beta of 1.38. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $783.80.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same period in the previous year, the business earned $0.42 earnings per share. The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analysts Set New Price Targets

LITE has been the subject of several recent research reports. Morgan Stanley lifted their target price on shares of Lumentum to $520.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Mizuho upped their price objective on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. upped their price target on Lumentum to $565.00 and gave the stock an “overweight” rating in a report on Wednesday, February 4th. Finally, Citigroup raised their price objective on Lumentum to $560.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.38.

Insider Buying and Selling at Lumentum

In related news, insider Vincent Retort sold 3,441 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the sale, the insider owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Wajid Ali sold 5,302 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the sale, the chief financial officer owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 65,775 shares of company stock worth $38,851,343 in the last 90 days. 0.43% of the stock is currently 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.