Florida Financial Advisors LLC Sells 1,267 Shares of Lumentum Holdings Inc. $LITE

Florida Financial Advisors LLC lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 23.3% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,175 shares of the technology company’s stock after selling 1,267 shares during the quarter. Florida Financial Advisors LLC’s holdings in Lumentum were worth $2,934,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of LITE. Sachetta LLC lifted its stake in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the last quarter. Hilton Head Capital Partners LLC purchased a new position in Lumentum during the 1st quarter valued at $25,000. Abel Hall LLC grew its position in Lumentum by 5.5% in the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after acquiring an additional 36 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Lumentum by 5.1% in the 1st quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock valued at $555,000 after acquiring an additional 38 shares during the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in Lumentum by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 44 shares during the period. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $765.55 on Tuesday. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 141.77 and a beta of 1.48. Lumentum Holdings Inc. has a 52 week low of $97.55 and a 52 week high of $1,085.68. 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 firm has a 50 day moving average of $859.31 and a 200 day moving average of $715.91.

Lumentum (NASDAQ:LITE) last announced its earnings results 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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter last year, the firm earned $0.57 EPS. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Citic Securities upped their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Stifel Nicolaus lifted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Insider Activity

In related news, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. 0.43% of the stock is currently owned by corporate 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.