Zweig DiMenna Associates LLC Buys 617 Shares of Lumentum Holdings Inc. $LITE

Zweig DiMenna Associates LLC lifted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 0.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 131,567 shares of the technology company’s stock after acquiring an additional 617 shares during the period. Lumentum accounts for about 3.0% of Zweig DiMenna Associates LLC’s portfolio, making the stock its 7th largest position. Zweig DiMenna Associates LLC owned approximately 0.18% of Lumentum worth $48,494,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Lumentum by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares during the period. Arrowstreet Capital Limited Partnership lifted its position 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 during the period. Geode Capital Management LLC lifted its position in shares of Lumentum by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after acquiring an additional 123,265 shares during the period. Alliancebernstein L.P. lifted its position in shares of Lumentum by 4.4% during the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock valued at $176,560,000 after acquiring an additional 45,953 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in shares of Lumentum by 707.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after acquiring an additional 871,249 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

LITE opened at $854.96 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company’s fifty day moving average price is $862.40 and its two-hundred day moving average price is $583.63. Lumentum Holdings Inc. has a 1-year low of $71.04 and a 1-year high of $1,085.68. The company has a market cap of $66.52 billion, a price-to-earnings ratio of 158.33 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The business’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LITE shares. Needham & Company LLC boosted their target price on shares of Lumentum from $880.00 to $1,040.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Bank of America upped their price objective on shares of Lumentum to $520.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.43.

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the sale, the director directly owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This represents a 46.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their position. 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 35,844 shares of company stock valued at $34,003,107 in the last quarter. 0.43% of the stock is owned by company insiders.

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.