Estate Counselors LLC Has $2 Million Position in Lumentum Holdings Inc. $LITE

Estate Counselors LLC lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 75.3% during the 1st quarter, Holdings Channel.com reports. The fund owned 2,843 shares of the technology company’s stock after selling 8,657 shares during the period. Estate Counselors LLC’s holdings in Lumentum were worth $1,998,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LITE. Nomura Asset Management Co. Ltd. increased its position in Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after buying an additional 114,714 shares during the last quarter. Andar Capital Management HK Ltd acquired a new stake in shares of Lumentum in the fourth quarter worth about $4,325,000. Whittier Trust Co. lifted its position in shares of Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock worth $57,183,000 after buying an additional 73,706 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new stake in shares of Lumentum during the 1st quarter worth about $2,046,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Lumentum during the 4th quarter worth about $6,755,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares in the company, valued at $30,844,065.35. This represents a 4.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,260 shares of company stock valued at $38,859,220 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on LITE. UBS Group raised their price objective on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,200.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Raymond James Financial reiterated an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Loop Capital boosted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Morgan Stanley upped their price objective on shares of Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Price Performance

NASDAQ LITE opened at $711.96 on Tuesday. The stock has a 50-day simple moving average of $841.23 and a 200 day simple moving average of $730.69. Lumentum Holdings Inc. has a twelve month low of $101.61 and a twelve month high of $1,085.68. The stock has a market capitalization of $55.39 billion, a PE ratio of 131.84 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.

Lumentum (NASDAQ:LITE) last released its 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 firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Lumentum Company 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.