Ion Asset Management Ltd. Cuts Position in Lumentum Holdings Inc. $LITE

Ion Asset Management Ltd. reduced its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 12.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 8,000 shares of the technology company’s stock after selling 1,186 shares during the period. Ion Asset Management Ltd.’s holdings in Lumentum were worth $1,302,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. KADENSA CAPITAL Ltd acquired a new position in shares of Lumentum during the third quarter worth about $15,154,000. HighVista Strategies LLC acquired a new stake in shares of Lumentum in the third quarter valued at about $2,103,000. Holocene Advisors LP purchased a new stake in shares of Lumentum during the 3rd quarter valued at about $136,401,000. Gotham Asset Management LLC raised its holdings in shares of Lumentum by 4.6% during the 3rd quarter. Gotham Asset Management LLC now owns 16,331 shares of the technology company’s stock valued at $2,657,000 after buying an additional 723 shares during the period. Finally, Granahan Investment Management LLC acquired a new position in Lumentum during the 3rd quarter worth approximately $5,350,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on LITE shares. Rosenblatt Securities lifted their price objective on shares of Lumentum to $580.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. UBS Group lifted their price target on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Citigroup upped their price objective on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. B. Riley Financial upgraded Lumentum from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $147.00 to $526.00 in a research note on Wednesday, February 4th. Finally, TD Cowen assumed coverage on Lumentum in a research note on Thursday. They set a “hold” rating and a $675.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $550.38.

Lumentum Trading Up 1.0%

NASDAQ:LITE opened at $622.50 on Monday. The company has a market cap of $44.45 billion, a PE ratio of 190.95 and a beta of 1.38. The business’s 50 day moving average is $510.02 and its two-hundred day moving average is $331.85. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $783.80.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The business had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same period in the prior year, the company posted $0.42 EPS. The business’s revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Yuen Wupen sold 3,157 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the transaction, the insider directly owned 88,439 shares of the company’s stock, valued at $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,775 shares of company stock worth $38,851,343 in the last ninety days. Insiders own 0.43% of the company’s stock.

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.