Pinnacle Associates Ltd. Sells 90,418 Shares of Lumentum Holdings Inc. $LITE

Pinnacle Associates Ltd. lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 26.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 249,271 shares of the technology company’s stock after selling 90,418 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Lumentum were worth $23,696,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LITE. GAMMA Investing LLC grew its stake in Lumentum by 72.1% in the first quarter. GAMMA Investing LLC now owns 2,051 shares of the technology company’s stock valued at $128,000 after purchasing an additional 859 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Lumentum in the first quarter valued at approximately $260,000. Golden State Wealth Management LLC boosted its stake in Lumentum by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company’s stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Lumentum by 43.7% in the first quarter. Robeco Institutional Asset Management B.V. now owns 11,059 shares of the technology company’s stock valued at $689,000 after acquiring an additional 3,362 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in Lumentum in the first quarter valued at approximately $626,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 6.6%

Lumentum stock opened at $200.13 on Friday. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $214.50. The company has a market capitalization of $14.19 billion, a price-to-earnings ratio of 870.13 and a beta of 1.42. The stock has a 50-day moving average price of $158.99 and a 200 day moving average price of $111.49.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The firm had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 3,282 shares of the firm’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $119.25, for a total transaction of $391,378.50. Following the completion of the transaction, the insider owned 104,554 shares of the company’s stock, valued at $12,468,064.50. This trade represents a 3.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Julia Suzanne Johnson sold 1,250 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the transaction, the director directly owned 22,037 shares of the company’s stock, valued at approximately $2,623,725.22. This trade represents a 5.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 18,439 shares of company stock worth $2,206,997. 0.43% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LITE. UBS Group raised their target price on shares of Lumentum from $78.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, August 13th. Barclays restated an “equal weight” rating and issued a $165.00 target price on shares of Lumentum in a research note on Monday, October 20th. KGI Securities began coverage on shares of Lumentum in a research note on Monday, August 18th. They issued an “outperform” rating for the company. Wall Street Zen upgraded shares of Lumentum from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $144.07.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.