Lumentum Holdings Inc. $LITE is Atreides Management LP’s 10th Largest Position

Atreides Management LP decreased its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 41.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 382,805 shares of the technology company’s stock after selling 274,155 shares during the period. Lumentum makes up about 1.7% of Atreides Management LP’s holdings, making the stock its 10th biggest holding. Atreides Management LP owned approximately 0.54% of Lumentum worth $141,098,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Lumentum by 0.6% in 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 purchasing an additional 41,975 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Lumentum by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after purchasing an additional 291,591 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Lumentum by 9.6% in 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 purchasing an additional 123,265 shares in the last quarter. 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, Norges Bank purchased a new stake in shares of Lumentum in the 4th quarter valued at $474,495,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In other Lumentum news, 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 value of $4,300,418.78. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brian Lillie sold 11,951 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Craig Hallum upped their price target on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Finally, Northland Securities upped their price target on shares of Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Trading Down 0.6%

NASDAQ:LITE opened at $869.98 on Thursday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52 week low of $86.57 and a 52 week high of $1,085.68. The firm has a market capitalization of $67.68 billion, a P/E ratio of 161.11 and a beta of 1.47. The company has a fifty day moving average of $903.17 and a 200 day moving average of $644.68.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS 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 business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter 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, research analysts predict that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Lumentum 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.