Hel Ved Capital Management Ltd Sells 102,912 Shares of Lumentum Holdings Inc. $LITE

Hel Ved Capital Management Ltd decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 53.0% during the 4th quarter, Holdings Channel reports. The firm owned 91,388 shares of the technology company’s stock after selling 102,912 shares during the quarter. Lumentum makes up approximately 9.1% of Hel Ved Capital Management Ltd’s investment portfolio, making the stock its 2nd largest position. Hel Ved Capital Management Ltd’s holdings in Lumentum were worth $33,685,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Lumentum by 0.6% in 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 purchasing an additional 41,975 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after buying an additional 123,265 shares in the last quarter. Situational Awareness LP lifted its stake in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Lumentum in the fourth quarter worth about $474,495,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on LITE. JPMorgan Chase & Co. raised their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their price target on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Needham & Company LLC reissued a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Tuesday. Finally, Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Insiders Place Their Bets

In other news, CFO Wajid Ali sold 2,487 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, 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 ownership of the stock. 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 ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. Insiders own 0.43% of the company’s stock.

Lumentum Price Performance

Shares of LITE stock opened at $921.56 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The firm’s 50-day moving average is $897.64 and its two-hundred day moving average is $629.72. Lumentum Holdings Inc. has a 12 month low of $81.93 and a 12 month high of $1,085.68. The company has a market capitalization of $71.70 billion, a PE ratio of 170.66 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s revenue was up 90.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share 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.