Picton Mahoney Asset Management Decreases Stock Holdings in Lumentum Holdings Inc. $LITE

Picton Mahoney Asset Management lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 47.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 78,525 shares of the technology company’s stock after selling 71,826 shares during the quarter. Picton Mahoney Asset Management owned approximately 0.11% of Lumentum worth $12,778,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Lumentum by 0.4% during the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock worth $2,532,000 after purchasing an additional 64 shares in the last quarter. UMB Bank n.a. lifted its stake in Lumentum by 11.2% in the 3rd quarter. UMB Bank n.a. now owns 920 shares of the technology company’s stock valued at $150,000 after buying an additional 93 shares in the last quarter. MAI Capital Management boosted its holdings in Lumentum by 27.0% in the 2nd quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after buying an additional 96 shares during the last quarter. KLP Kapitalforvaltning AS increased its stake in Lumentum by 0.7% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 15,171 shares of the technology company’s stock worth $2,468,000 after buying an additional 100 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Lumentum by 0.3% during the third quarter. Amalgamated Bank now owns 31,871 shares of the technology company’s stock valued at $5,186,000 after acquiring an additional 108 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Mizuho lifted their price target on Lumentum to $645.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 17th. Wolfe Research reaffirmed an “outperform” rating and set a $240.00 target price on shares of Lumentum in a report on Wednesday, November 5th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and increased their target price for the company from $147.00 to $526.00 in a research report on Wednesday, February 4th. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Finally, Susquehanna increased their price objective on shares of Lumentum to $550.00 and gave the company a “positive” rating in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus price target of $513.94.

Lumentum Price Performance

NASDAQ:LITE opened at $680.80 on Thursday. Lumentum Holdings Inc. has a 52 week low of $45.65 and a 52 week high of $783.80. The stock’s fifty day moving average is $474.47 and its two-hundred day moving average is $305.27. The company has a market capitalization of $48.61 billion, a P/E ratio of 208.83 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

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

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: NVIDIA committed a large strategic investment and purchase commitments that secure demand and funding for Lumentum’s AI optics capacity — a clear demand de‑risking catalyst for LITE. Read More.
• Positive Sentiment: Several Wall Street analysts raised ratings/targets after the NVIDIA announcement (Needham boosted its 12‑month target to $850 and Barclays raised its target to $750), reinforcing institutional bullishness on Lumentum as an AI “picks‑and‑shovels” play. Read More.
• Neutral Sentiment: Sector flows into AI/optics names are amplifying moves in LITE — much of the recent volatility reflects thematic positioning across photonics peers rather than new company fundamentals. Read More.
• Negative Sentiment: Lumentum disclosed a $2B private placement of convertible preferred stock to NVIDIA; while strategic, the financing structure (convertible preferred terms and timing) has raised dilution/valuation concerns that likely prompted profit‑taking and the intraday pullback. Read More.
• Negative Sentiment: Insider selling: CFO Wajid Ali disclosed a sale of shares recently — such filings can spook momentum traders even if sales are routine diversification. Read More.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the completion of the sale, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. The trade was a 3.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 65,775 shares of company stock valued at $38,851,343 in the last ninety days. Insiders own 0.43% of the company’s stock.

About Lumentum

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.