Lumentum Holdings Inc. $LITE Shares Sold by Keynote Financial Services LLC

Keynote Financial Services LLC trimmed its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,213 shares of the technology company’s stock after selling 1,847 shares during the period. Lumentum makes up about 1.3% of Keynote Financial Services LLC’s holdings, making the stock its 16th largest holding. Keynote Financial Services LLC’s holdings in Lumentum were worth $2,290,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in LITE. EverSource Wealth Advisors LLC lifted its stake in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Lumentum during the fourth quarter worth $28,000. Triumph Capital Management acquired a new position in Lumentum during the fourth quarter worth $30,000. Danske Bank A S acquired a new position in Lumentum during the third quarter worth $33,000. Finally, Harbour Investments Inc. lifted its stake in Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after purchasing an additional 81 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research reports. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Barclays upped their price target on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Susquehanna upped their price target on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research note on Monday, April 20th. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research note on Tuesday. Finally, Mizuho set a $1,100.00 price objective on Lumentum in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Stock Up 3.6%

Shares of NASDAQ LITE opened at $921.56 on Friday. The stock has a market cap of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 12-month low of $81.93 and a 12-month high of $1,085.68. The business’s fifty day simple moving average is $897.64 and its 200-day simple moving average is $629.72.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million for 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%.The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period last year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. This trade represents a 16.86% 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. In the last 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is 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.