Legacy Capital Group California Inc. Sells 900 Shares of Lumentum Holdings Inc. $LITE

Legacy Capital Group California Inc. lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 72.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 338 shares of the technology company’s stock after selling 900 shares during the period. Legacy Capital Group California Inc.’s holdings in Lumentum were worth $238,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in LITE. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the first quarter valued at $25,000. Sachetta LLC raised its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Wiser Advisor Group LLC lifted its stake in Lumentum by 6,000.0% in the first quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after acquiring an additional 60 shares during the last quarter. SJS Investment Consulting Inc. grew its position in shares of Lumentum by 687.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after acquiring an additional 55 shares during the period. Finally, Truvestments Capital LLC grew its position in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Down 7.7%

Shares of LITE opened at $752.00 on Thursday. The firm has a market cap of $58.51 billion, a P/E ratio of 139.26 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. Lumentum Holdings Inc. has a 52 week low of $95.18 and a 52 week high of $1,085.68. The firm’s 50-day simple moving average is $872.19 and its 200 day simple moving average is $708.38.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data 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. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period last year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insider Activity at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the company’s stock in a transaction on Monday, May 11th. The stock was 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. This represents a 46.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the company’s stock in a transaction 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 transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,260 shares of company stock valued at $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

LITE has been the topic of several recent analyst reports. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a research note on Tuesday, June 9th. UBS Group lifted their price target on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. TD Cowen lowered their price target on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research report on Monday. BNP Paribas Exane upped their price objective on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Finally, JPMorgan Chase & Co. raised their price objective on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

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.