Lumentum Holdings Inc. $LITE Shares Sold by Castleark Management LLC

Castleark Management LLC reduced its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,370 shares of the technology company’s stock after selling 32,740 shares during the period. Castleark Management LLC owned 0.09% of Lumentum worth $6,024,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. FNY Investment Advisers LLC acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $38,000. SVB Wealth LLC purchased a new stake in shares of Lumentum in the first quarter valued at $40,000. MAI Capital Management boosted its position in shares of Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after buying an additional 96 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its position in Lumentum by 224.4% during the second quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after buying an additional 487 shares during the period. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In other news, Director Isaac Hosojiro Harris sold 7,200 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $243.32, for a total value of $1,751,904.00. Following the sale, the director directly owned 9,764 shares of the company’s stock, valued at $2,375,776.48. This represents a 42.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jae Kim sold 170 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $246.00, for a total transaction of $41,820.00. Following the sale, the senior vice president directly owned 38,400 shares in the company, valued at $9,446,400. The trade was a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,612 shares of company stock valued at $7,317,398 over the last 90 days. 0.43% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LITE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 8th. Wall Street Zen cut shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Barclays lifted their price target on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. KGI Securities assumed coverage on Lumentum in a report on Monday, August 18th. They set an “outperform” rating on the stock. Finally, B. Riley increased their target price on Lumentum from $83.00 to $147.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.00.

Lumentum Price Performance

Shares of Lumentum stock opened at $324.35 on Friday. The business has a 50 day moving average of $237.68 and a 200 day moving average of $158.24. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $376.53. The company has a market cap of $23.00 billion, a PE ratio of 217.69 and a beta of 1.53. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 2.77.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The business had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. During the same period in the prior year, the business earned $0.18 EPS. The company’s revenue for the quarter was up 58.4% on a year-over-year basis. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.