WT Asset Management Ltd Acquires New Position in Lumentum Holdings Inc. $LITE

WT Asset Management Ltd acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 576,519 shares of the technology company’s stock, valued at approximately $494,688,000. Lumentum makes up 9.8% of WT Asset Management Ltd’s investment portfolio, making the stock its 5th largest position. WT Asset Management Ltd owned approximately 0.74% of Lumentum at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its holdings 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 worth $254,350,000 after buying an additional 1,545,199 shares in the last quarter. Norges Bank acquired a new position in Lumentum during the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the fourth quarter worth about $432,062,000. Situational Awareness LP boosted its stake in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new stake in shares of Lumentum during the 4th quarter valued at approximately $251,363,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Trading Up 4.6%

NASDAQ LITE opened at $968.90 on Tuesday. The business’s 50-day moving average price is $810.55 and its two-hundred day moving average price is $779.66. Lumentum Holdings Inc. has a 12 month low of $111.20 and a 12 month high of $1,085.68. The firm has a market capitalization of $75.38 billion, a PE ratio of -11.79 and a beta of 1.50. The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm’s revenue was up 109.3% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 16.97 EPS for the current year.

Insider Activity at Lumentum

In other news, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director owned 8,400 shares in the company, valued at approximately $7,224,000. The trade was a 32.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 10,370 shares of company stock valued at $9,156,532. Company insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on LITE shares. Loop Capital increased their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. TD Cowen upped their price target on shares of Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Susquehanna increased their target price on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research report on Monday, April 20th. Finally, Citigroup reissued a “buy” rating on shares of Lumentum in a research note on Wednesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus price target of $1,044.67.

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.