Andar Capital Management HK Ltd Sells 733 Shares of Lumentum Holdings Inc. $LITE

Andar Capital Management HK Ltd decreased its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 6.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,000 shares of the technology company’s stock after selling 733 shares during the period. Lumentum makes up 6.6% of Andar Capital Management HK Ltd’s holdings, making the stock its 8th biggest position. Andar Capital Management HK Ltd’s holdings in Lumentum were worth $7,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Advisors Asset Management Inc. grew its holdings in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC raised its holdings in shares of Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after buying an additional 6,275 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in Lumentum in the second quarter valued at about $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lumentum in the second quarter valued at about $1,712,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the subject of several research reports. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Rosenblatt Securities upped their price objective on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Morgan Stanley raised their price objective on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Craig Hallum lifted their target price on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Citigroup reissued a “buy” rating on shares of Lumentum in a report on Thursday. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $1,012.67.

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at $58,144,206.45. The trade was a 3.92% 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 a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. 0.43% of the stock is owned by corporate insiders.

Lumentum Stock Up 4.5%

Shares of NASDAQ LITE opened at $765.55 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The company has a 50-day moving average price of $859.31 and a 200-day moving average price of $715.91. The stock has a market capitalization of $59.56 billion, a P/E ratio of 141.77 and a beta of 1.48. Lumentum Holdings Inc. has a 1 year low of $97.55 and a 1 year high of $1,085.68.

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