Skandinaviska Enskilda Banken AB publ Sells 2,256 Shares of Lumentum Holdings Inc. $LITE

Skandinaviska Enskilda Banken AB publ lessened its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 59.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,536 shares of the technology company’s stock after selling 2,256 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Lumentum were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in LITE. Northwestern Mutual Investment Management Company LLC lifted its position in Lumentum by 0.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock worth $2,532,000 after buying an additional 64 shares in the last quarter. UMB Bank n.a. increased its position in shares of Lumentum by 11.2% in the third quarter. UMB Bank n.a. now owns 920 shares of the technology company’s stock valued at $150,000 after acquiring an additional 93 shares during the last quarter. MAI Capital Management raised its holdings in Lumentum by 27.0% during the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after acquiring an additional 96 shares in the last quarter. KLP Kapitalforvaltning AS boosted its position in Lumentum by 0.7% during the third quarter. KLP Kapitalforvaltning AS now owns 15,171 shares of the technology company’s stock valued at $2,468,000 after purchasing an additional 100 shares during the last quarter. Finally, Amalgamated Bank grew its stake in Lumentum by 0.3% in the third quarter. Amalgamated Bank now owns 31,871 shares of the technology company’s stock valued at $5,186,000 after purchasing an additional 108 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 3,157 shares of the firm’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 transaction of $1,698,466.00. Following the transaction, the insider directly owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vincent Retort sold 45,026 shares of the business’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the sale, the insider owned 102,455 shares of the company’s stock, valued at approximately $60,583,690.60. This trade represents a 30.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,473 shares of company stock worth $35,186,972 in the last quarter. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $667.77 on Monday. The stock has a 50 day simple moving average of $419.10 and a 200 day simple moving average of $273.54. The stock has a market cap of $47.68 billion, a P/E ratio of 204.84 and a beta of 1.51. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $678.00. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on LITE shares. Rosenblatt Securities upped their price objective on Lumentum to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and increased their price target for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. JPMorgan Chase & Co. upped their target price on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Northland Securities set a $350.00 target price on shares of Lumentum in a research note on Wednesday, December 3rd. Finally, Citigroup boosted their price target on Lumentum to $560.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $447.38.

Lumentum Company 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.