New York State Teachers Retirement System Sells 9,028 Shares of Lumentum Holdings Inc. $LITE

New York State Teachers Retirement System trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 13.5% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 58,042 shares of the technology company’s stock after selling 9,028 shares during the quarter. New York State Teachers Retirement System’s holdings in Lumentum were worth $40,790,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in LITE. Hilton Head Capital Partners LLC bought a new stake in shares of Lumentum in the first quarter valued at about $25,000. EverSource Wealth Advisors LLC lifted its stake in Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after acquiring an additional 131 shares during the period. V Square Quantitative Management LLC bought a new position in Lumentum during the 4th quarter worth about $28,000. Truvestments Capital LLC grew its holdings in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares in the last quarter. Finally, Triumph Capital Management purchased a new position in Lumentum during the 4th quarter valued at about $30,000. Institutional investors own 94.05% of the company’s stock.

Insider Activity at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 over the last three months. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

Shares of Lumentum stock opened at $728.32 on Friday. The company has a market capitalization of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The company has a 50-day simple moving average of $892.56 and a two-hundred day simple moving average of $683.79. Lumentum Holdings Inc. has a one year low of $88.93 and a one year high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period last year, the business earned $0.57 EPS. The company’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Analyst Ratings Changes

LITE has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a report on Tuesday, June 9th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Citic Securities lifted their price objective on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Morgan Stanley upped their target price on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. One 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.95.

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.