Lumentum Holdings Inc. $LITE is WT Asset Management Ltd’s 9th Largest Position

WT Asset Management Ltd increased its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 170.0% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 710,208 shares of the technology company’s stock after acquiring an additional 447,208 shares during the period. Lumentum makes up approximately 5.3% of WT Asset Management Ltd’s holdings, making the stock its 9th largest holding. WT Asset Management Ltd owned about 1.00% of Lumentum worth $115,558,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LITE. Hood River Capital Management LLC raised its stake in shares of Lumentum by 82.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Norges Bank bought a new stake in Lumentum in the second quarter valued at $82,983,000. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Lumentum in the third quarter valued at approximately $71,771,000. Channing Capital Management LLC increased its position in Lumentum by 61.0% in the 2nd quarter. Channing Capital Management LLC now owns 948,334 shares of the technology company’s stock valued at $90,149,000 after acquiring an additional 359,394 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of Lumentum by 7,168.8% during the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after purchasing an additional 357,367 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lumentum

In other news, Director Penny Herscher sold 4,000 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the sale, the director owned 2,057 shares of the company’s stock, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the transaction, the insider directly owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. This represents a 3.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,473 shares of company stock valued at $35,186,972 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

Lumentum Stock Performance

Shares of Lumentum stock traded up $20.30 on Friday, reaching $655.94. The stock had a trading volume of 970,089 shares, compared to its average volume of 5,007,356. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $662.00. The business’s 50-day moving average price is $412.23 and its two-hundred day moving average price is $267.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The stock has a market cap of $46.83 billion, a P/E ratio of 200.56 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. During the same period in the previous year, the company earned $0.42 earnings per share. The company’s quarterly revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Wall Street Analyst Weigh In

LITE has been the subject of a number of research analyst reports. B. Riley Financial upgraded Lumentum from a “neutral” rating to a “buy” rating and upped their target price for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. Bank of America increased their target price on Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 29th. JPMorgan Chase & Co. increased their price objective on Lumentum to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. Finally, Citigroup lifted their target price on Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $447.38.

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.