Lumentum Holdings Inc. $LITE is Front Street Capital Management Inc.’s 4th Largest Position

Front Street Capital Management Inc. reduced its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 21.6% in the 1st quarter, Holdings Channel.com reports. The fund owned 74,931 shares of the technology company’s stock after selling 20,653 shares during the quarter. Lumentum comprises about 6.8% of Front Street Capital Management Inc.’s holdings, making the stock its 4th largest position. Front Street Capital Management Inc.’s holdings in Lumentum were worth $52,659,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of LITE. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the 1st quarter valued at $25,000. Sachetta LLC boosted its stake 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 purchasing an additional 19 shares during the period. Wiser Advisor Group LLC boosted its stake in Lumentum by 6,000.0% during the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock worth $43,000 after purchasing an additional 60 shares during the period. SJS Investment Consulting Inc. grew its position in Lumentum by 687.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock worth $44,000 after purchasing an additional 55 shares during the last quarter. Finally, Truvestments Capital LLC grew its position in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Up 15.1%

Shares of Lumentum stock opened at $693.24 on Friday. Lumentum Holdings Inc. has a one year low of $101.61 and a one year high of $1,085.68. The company has a market cap of $53.93 billion, a P/E ratio of 128.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a fifty day moving average of $825.72 and a two-hundred day moving average of $736.71.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. TD Cowen dropped their price objective on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research note on Monday, July 13th. Susquehanna increased their target price on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their price target on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Craig Hallum boosted their price target on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $7,224,000. This represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares of the company’s stock, valued at approximately $77,735,477.60. This trade represents a 3.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by company 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.