SG Capital Management LLC Sells 114,704 Shares of Lumentum Holdings Inc. $LITE

SG Capital Management LLC lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 70.2% during the 2nd quarter, Holdings Channel reports. The firm owned 48,618 shares of the technology company’s stock after selling 114,704 shares during the quarter. SG Capital Management LLC’s holdings in Lumentum were worth $4,622,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of LITE. FNY Investment Advisers LLC purchased a new position in shares of Lumentum during the second quarter valued at $38,000. Skandinaviska Enskilda Banken AB publ bought a new position in Lumentum during the 1st quarter worth about $25,000. SVB Wealth LLC bought a new position in Lumentum during the 1st quarter worth about $40,000. Hantz Financial Services Inc. increased its position in Lumentum by 224.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after purchasing an additional 487 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Lumentum by 121.3% in the 2nd quarter. Allworth Financial LP now owns 737 shares of the technology company’s stock valued at $70,000 after purchasing an additional 404 shares in the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Up 2.3%

Lumentum stock opened at $232.15 on Friday. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $273.89. The business has a fifty day moving average price of $180.49 and a 200-day moving average price of $124.89. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The stock has a market capitalization of $16.46 billion, a price-to-earnings ratio of 155.81 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The company had revenue of $533.80 million for the quarter, compared to analyst estimates of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The firm’s quarterly revenue was up 58.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Transactions at Lumentum

In related news, Director Isaac Hosojiro Harris sold 7,200 shares of Lumentum stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $243.32, for a total value of $1,751,904.00. Following the completion of the sale, the director directly owned 9,764 shares in the company, valued at $2,375,776.48. This trade represents a 42.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew Joseph Sepe sold 4,232 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $239.63, for a total transaction of $1,014,114.16. Following the sale, the chief accounting officer directly owned 43,544 shares in the company, valued at approximately $10,434,448.72. This represents a 8.86% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 39,521 shares of company stock worth $7,638,422 over the last ninety days. 0.43% of the stock is currently owned by insiders.

Analysts Set New Price Targets

LITE has been the topic of a number of recent research reports. Northland Securities set a $250.00 price objective on shares of Lumentum in a research note on Wednesday, November 5th. Rosenblatt Securities upped their target price on Lumentum to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. Wall Street Zen cut Lumentum from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Barclays boosted their price target on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Bank of America upgraded Lumentum from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $78.00 to $135.00 in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $190.67.

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.