Legato Capital Management LLC Decreases Stock Holdings in Lumentum Holdings Inc. $LITE

Legato Capital Management LLC decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 48.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,670 shares of the technology company’s stock after selling 3,390 shares during the period. Legato Capital Management LLC’s holdings in Lumentum were worth $1,353,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lumentum in the fourth quarter valued at $28,000. Danske Bank A S purchased a new stake in shares of Lumentum in the third quarter valued at $33,000. Chesapeake Asset Management LLC purchased a new stake in shares of Lumentum in the fourth quarter valued at $37,000. Finally, BOCHK Asset Management Ltd purchased a new stake in shares of Lumentum in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

NASDAQ LITE opened at $946.90 on Monday. The company’s 50-day moving average price is $837.17 and its 200-day moving average price is $562.57. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $73.67 billion, a PE ratio of 175.35 and a beta of 1.53. Lumentum Holdings Inc. has a 12 month low of $71.04 and a 12 month high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares in the company, valued at $45,812,934.31. This represents a 7.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Yuen Wupen sold 3,210 shares of the stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the transaction, the insider owned 81,488 shares in the company, valued at approximately $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 41,146 shares of company stock worth $37,667,478 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Articles argue that Nvidia’s results reinforce the scarcity and importance of AI networking hardware, which could support continued demand for Lumentum’s optical components. Lumentum: Market Is Missing What Nvidia’s Q1 Just Confirmed
• Positive Sentiment: Coverage says Lumentum’s AI connectivity portfolio is expanding and hyperscaler demand is driving record revenues and rapid growth in optical connectivity shipments. Lumentum’s AI Connectivity Portfolio Expands: Is Growth Durable?
• Positive Sentiment: Analysts and market commentary describe Lumentum’s earnings as confirming an “AI scarcity advantage,” suggesting the company may be well positioned to benefit from tight supply and strong demand. Lumentum’s Earnings Confirm AI Scarcity Advantage
• Positive Sentiment: Lumentum’s addition to the Nasdaq-100 is increasing visibility and could bring more institutional and ETF-related demand for the shares. Does Lumentum (LITE) Joining the Nasdaq-100 Recast Its AI Infrastructure Investment Narrative?
• Neutral Sentiment: REX Shares launched a 2x leveraged ETF tied to Lumentum, which may boost trading interest but does not change the company’s fundamentals. REX Shares Launches T-REX 2X ASTS (ASUP) & 2X LITE (LITU) ETFs
• Neutral Sentiment: Several insider sale filings were reported, but the trades were relatively small and do not appear to be a major driver of the stock move. Yuen Wupen Sells 3,210 Shares of Lumentum (NASDAQ:LITE) Stock

Analyst Ratings Changes

Several brokerages have recently weighed in on LITE. Citic Securities increased their target price on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. JPMorgan Chase & Co. increased their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Northland Securities set a $1,000.00 target price on shares of Lumentum in a research note on Monday, April 20th. Loop Capital increased their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Mizuho set a $1,100.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,012.43.

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.