3,000 Shares in Lumentum Holdings Inc. $LITE Acquired by JAT Capital Mgmt LP

JAT Capital Mgmt LP bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,000 shares of the technology company’s stock, valued at approximately $2,108,000. Lumentum comprises 3.6% of JAT Capital Mgmt LP’s portfolio, making the stock its 6th largest position.

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

Analyst Ratings Changes

Several research firms have recently weighed in on LITE. Mizuho set a $1,100.00 price objective on Lumentum in a research report on Wednesday, May 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research note on Friday, July 17th. Craig Hallum lifted their target price on Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price target on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Loop Capital increased their price target on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Activity

In related news, insider Vincent Retort sold 3,183 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 $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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, SVP Jae Kim sold 1,422 shares of the business’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 $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares of the company’s stock, valued at $30,844,065.35. This trade represents a 4.21% decrease in their position. 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. Over the last 90 days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Lumentum Price Performance

LITE stock opened at $711.96 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’s 50-day moving average is $841.23 and its 200-day moving average is $730.69. The stock has a market capitalization of $55.39 billion, a PE ratio of 131.84 and a beta of 1.48. Lumentum Holdings Inc. has a 1 year low of $101.61 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly 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 business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts expect 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.