Boothbay Fund Management LLC Sells 169,039 Shares of Lumentum Holdings Inc. $LITE

Boothbay Fund Management LLC decreased its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 78.7% during the fourth quarter, HoldingsChannel.com reports. The firm owned 45,876 shares of the technology company’s stock after selling 169,039 shares during the quarter. Boothbay Fund Management LLC’s holdings in Lumentum were worth $16,909,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Caisse de depot et placement du Quebec purchased a new position in Lumentum in the 4th quarter worth about $3,354,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Lumentum during the 4th quarter valued at about $432,062,000. AQR Capital Management LLC grew its stake in shares of Lumentum by 108.5% during the 4th quarter. AQR Capital Management LLC now owns 83,727 shares of the technology company’s stock valued at $30,861,000 after acquiring an additional 43,566 shares during the period. Abel Hall LLC bought a new position in shares of Lumentum during the 4th quarter valued at approximately $242,000. Finally, Hilltop Holdings Inc. bought a new position in Lumentum in the 4th quarter worth approximately $589,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 target price on Lumentum in a research note on Wednesday, May 6th. BNP Paribas Exane raised their price target on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Rosenblatt Securities raised their price objective on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Insider Buying and Selling

In other Lumentum news, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction 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 completion of the transaction, the director owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Lumentum Trading Down 0.6%

Shares of NASDAQ:LITE opened at $869.98 on Thursday. Lumentum Holdings Inc. has a 52-week low of $86.57 and a 52-week high of $1,085.68. The stock has a market cap of $67.68 billion, a price-to-earnings ratio of 161.11 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $903.17 and a 200-day moving average price of $644.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate 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% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Lumentum 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.