Avala Global LP Cuts Stock Holdings in Lumentum Holdings Inc. $LITE

Avala Global LP decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 41.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,837 shares of the technology company’s stock after selling 159,000 shares during the quarter. Lumentum accounts for approximately 4.0% of Avala Global LP’s portfolio, making the stock its 12th largest position. Avala Global LP owned about 0.32% of Lumentum worth $83,978,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. grew its holdings in shares of Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after purchasing an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Lumentum during the fourth quarter worth about $4,325,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lumentum during the fourth quarter worth about $6,755,000. Headwater Capital Co Ltd purchased a new position in shares of Lumentum during the third quarter worth about $20,339,000. Finally, Maxi Investments CY Ltd purchased a new position in shares of Lumentum during the fourth quarter worth about $2,212,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

Shares of Lumentum stock 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. The company has a market cap of $67.68 billion, a PE ratio of 161.11 and a beta of 1.47. The business has a 50 day moving average of $903.17 and a 200 day moving average of $644.68. Lumentum Holdings Inc. has a 52 week low of $86.57 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during 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 quarter in the prior year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 3,210 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the sale, the insider directly owned 81,488 shares of the company’s stock, valued at approximately $77,735,477.60. This represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The stock was 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 directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This represents a 3.43% 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 have sold 41,260 shares of company stock valued at $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

LITE has been the subject of several recent analyst reports. Susquehanna boosted their price objective on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a report on Monday, April 20th. Barclays upped their target price on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Loop Capital upped their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Finally, Stifel Nicolaus upped their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

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.