Jackson Square Capital LLC Sells 5,687 Shares of Lumentum Holdings Inc. $LITE

Jackson Square Capital LLC decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 23.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,798 shares of the technology company’s stock after selling 5,687 shares during the quarter. Lumentum comprises 2.7% of Jackson Square Capital LLC’s holdings, making the stock its 9th largest holding. Jackson Square Capital LLC’s holdings in Lumentum were worth $18,258,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Jupiter Topco LLC bought a new stake in Lumentum during the 2nd quarter worth approximately $1,621,396,000. WT Asset Management Ltd bought a new position in shares of Lumentum in the second quarter valued at approximately $494,688,000. Legal & General Group Plc bought a new position in shares of Lumentum in the second quarter valued at approximately $376,539,000. Amundi boosted its position in shares of Lumentum by 188.7% during the second quarter. Amundi now owns 658,427 shares of the technology company’s stock valued at $564,970,000 after buying an additional 430,355 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of Lumentum by 163.2% during the first quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock valued at $398,590,000 after buying an additional 351,676 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $1,036.00 target price on shares of Lumentum in a report on Wednesday, August 12th. Citigroup boosted their price target on shares of Lumentum from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a report on Monday, September 28th. Bank of America reduced their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 12th. Finally, TD Cowen increased their price objective on shares of Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a research note on Wednesday, August 12th. Sixteen research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,078.75.

Insiders Place Their Bets

In other news, CFO Wajid Ali sold 24,542 shares of the company’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer owned 75,074 shares of the company’s stock, valued at $78,715,089. This represents a 24.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the transaction, the insider directly owned 108,320 shares in the company, valued at $102,362,400. This represents a 0.28% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 94,496 shares of company stock valued at $85,978,498 over the last three months. Company insiders own 0.28% of the company’s stock.

Lumentum Stock Performance

LITE stock traded up $28.68 during mid-day trading on Monday, hitting $852.81. The company had a trading volume of 2,369,641 shares, compared to its average volume of 5,479,587. The firm has a market cap of $77.25 billion, a PE ratio of -10.39 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. Lumentum Holdings Inc. has a 12 month low of $152.54 and a 12 month high of $1,143.00. The stock’s fifty day moving average price is $931.48 and its two-hundred day moving average price is $877.62.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company’s revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts forecast that Lumentum Holdings Inc. will post 19.79 earnings per share for the current fiscal year.

Lumentum Company Profile

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.