Cim Investment Management Inc. Cuts Position in Lumentum Holdings Inc. $LITE

Cim Investment Management Inc. reduced its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 84.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 738 shares of the technology company’s stock after selling 3,892 shares during the quarter. Cim Investment Management Inc.’s holdings in Lumentum were worth $519,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after acquiring an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in Lumentum in the fourth quarter valued at about $474,495,000. Value Aligned Research Advisors LLC purchased a new position in Lumentum in the fourth quarter valued at about $432,062,000. Situational Awareness LP lifted its stake in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of Lumentum during the fourth quarter worth about $251,363,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the subject of a number of recent research reports. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Mizuho set a $1,100.00 price target on Lumentum in a research report on Wednesday, May 6th. Citigroup restated a “buy” rating on shares of Lumentum in a report on Thursday, July 16th. Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Citic Securities lifted their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Activity at Lumentum

In related news, insider Yuen Wupen sold 3,210 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 $3,062,179.50. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 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 $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

Lumentum Stock Up 15.1%

Shares of NASDAQ LITE opened at $693.24 on Friday. 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 Holdings Inc. has a 1 year low of $101.61 and a 1 year high of $1,085.68. The stock’s 50-day simple moving average is $825.72 and its 200-day simple moving average is $736.71. The firm has a market cap of $53.93 billion, a price-to-earnings ratio of 128.38 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

About Lumentum

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.