King Luther Capital Management Corp Reduces Stock Position in Lumentum Holdings Inc. $LITE

King Luther Capital Management Corp lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 38.3% during the 4th quarter, Holdings Channel reports. The firm owned 63,415 shares of the technology company’s stock after selling 39,376 shares during the quarter. King Luther Capital Management Corp’s holdings in Lumentum were worth $23,374,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Lumentum by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after purchasing an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Alliancebernstein L.P. grew its stake in Lumentum by 4.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock valued at $176,560,000 after purchasing an additional 45,953 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in Lumentum by 707.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after purchasing an additional 871,249 shares during the last quarter. Finally, Holocene Advisors LP purchased a new stake in shares of Lumentum in the third quarter worth about $136,401,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In other Lumentum news, insider Yuen Wupen sold 3,210 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the completion of the transaction, the insider owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Also, Director Brian Lillie sold 11,951 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,146 shares of company stock worth $37,667,478 in the last ninety days. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent research reports. Northland Securities set a $1,000.00 target price on Lumentum in a research note on Monday, April 20th. Mizuho set a $1,100.00 target price on Lumentum in a research note on Wednesday, May 6th. Bank of America upped their target price on Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Citic Securities upped their target price on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.

Lumentum Stock Performance

NASDAQ LITE opened at $902.31 on Thursday. The stock has a market capitalization of $70.20 billion, a price-to-earnings ratio of 167.09 and a beta of 1.53. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock has a 50-day moving average of $855.10 and a 200 day moving average of $577.35.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal 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.