Lumentum Holdings Inc. $LITE Stock Position Lowered by Jackson Square Capital LLC

by · The Cerbat Gem

Jackson Square Capital LLC cut its holdings in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 23.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 18,798 shares of the technology company’s stock after selling 5,687 shares during the period. Lumentum accounts for 2.7% of Jackson Square Capital LLC’s investment portfolio, 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 quarter.

A number of other hedge funds have also bought and sold shares of LITE. BDF Gestion purchased a new position in Lumentum in the 3rd quarter valued at approximately $4,198,000. IFP Advisors Inc lifted its position in shares of Lumentum by 29.2% during the third quarter. IFP Advisors Inc now owns 1,885 shares of the technology company’s stock worth $1,831,000 after acquiring an additional 426 shares in the last quarter. Elevated Financial Group LLC lifted its position in shares of Lumentum by 15.5% during the third quarter. Elevated Financial Group LLC now owns 805 shares of the technology company’s stock worth $782,000 after acquiring an additional 108 shares in the last quarter. Encompass More Asset Management lifted its position in shares of Lumentum by 78.1% during the third quarter. Encompass More Asset Management now owns 1,047 shares of the technology company’s stock worth $1,017,000 after acquiring an additional 459 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC boosted its holdings in shares of Lumentum by 301.3% in the third quarter. Counterpoint Mutual Funds LLC now owns 1,260 shares of the technology company’s stock worth $1,224,000 after acquiring an additional 946 shares during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of the company’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the completion of the transaction, the chief financial officer owned 75,074 shares in the company, valued at $78,715,089. This represents a 24.64% 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 94,496 shares of company stock valued at $85,978,498 in the last three months. 0.28% of the stock is owned by corporate insiders.

Lumentum Price Performance

NASDAQ:LITE traded up $28.68 during trading hours on Monday, hitting $852.81. The stock had a trading volume of 2,369,641 shares, compared to its average volume of 5,479,587. The company has a 50 day simple moving average of $931.48 and a two-hundred day simple moving average of $877.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. Lumentum Holdings Inc. has a one year low of $152.54 and a one year high of $1,143.00. The firm has a market capitalization of $77.25 billion, a price-to-earnings ratio of -10.39 and a beta of 1.53.

Lumentum (NASDAQ:LITE – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS 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 analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business’s revenue for the quarter was up 109.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 19.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Stifel Nicolaus lifted their price target on Lumentum from $1,100.00 to $1,232.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 price objective on shares of Lumentum in a report on Monday, October 5th. Needham & Company LLC reissued a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft began coverage on Lumentum in a research note on Monday, August 31st. They issued a “buy” rating and a $1,200.00 target price for the company. Finally, TD Cowen lifted their target price on Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a report on Wednesday, August 12th. Sixteen investment 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,078.75.

Get Our Latest Analysis on Lumentum

About Lumentum

(Free Report)

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.

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