Entropy Technologies LP Sells 8,059 Shares of Lumentum Holdings Inc. $LITE

Entropy Technologies LP lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,118 shares of the technology company’s stock after selling 8,059 shares during the period. Entropy Technologies LP’s holdings in Lumentum were worth $4,575,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares during the last quarter. Hood River Capital Management LLC increased its position in shares of Lumentum by 82.1% during the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lumentum by 0.8% during the 2nd quarter. Geode Capital Management LLC now owns 1,260,940 shares of the technology company’s stock valued at $119,884,000 after purchasing an additional 10,027 shares during the last quarter. Finally, Channing Capital Management LLC boosted its position in shares of Lumentum by 61.0% in the 2nd quarter. Channing Capital Management LLC now owns 948,334 shares of the technology company’s stock worth $90,149,000 after purchasing an additional 359,394 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Activity

In other news, Director Penny Herscher sold 4,000 shares of Lumentum stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the completion of the transaction, the director directly owned 2,057 shares of the company’s stock, valued at $1,228,625.53. The trade was a 66.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 65,775 shares of company stock worth $38,851,343 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $616.09 on Friday. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $783.80. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The stock has a market cap of $43.99 billion, a PE ratio of 188.98 and a beta of 1.38. The business has a 50-day simple moving average of $505.29 and a 200-day simple moving average of $325.51.

Lumentum (NASDAQ:LITE) last posted its 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. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same period last year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on LITE shares. Mizuho upped their price objective on shares of Lumentum to $645.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Morgan Stanley increased their price objective on Lumentum to $520.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Northland Securities set a $350.00 price objective on Lumentum in a research note on Wednesday, December 3rd. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Finally, Needham & Company LLC increased their price target on shares of Lumentum to $850.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Two 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 company. According to data from MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and an average target price of $550.38.

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.