Atreides Management LP Decreases Stake in Lumentum Holdings Inc. $LITE

Atreides Management LP reduced its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 62.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 656,960 shares of the technology company’s stock after selling 1,100,601 shares during the period. Lumentum accounts for approximately 2.1% of Atreides Management LP’s portfolio, making the stock its 12th largest holding. Atreides Management LP owned approximately 0.93% of Lumentum worth $106,894,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC boosted its position in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the period. MAI Capital Management raised its position in shares of Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock valued at $43,000 after purchasing an additional 96 shares during the period. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Lumentum during the 3rd quarter valued at approximately $49,000. Cullen Frost Bankers Inc. purchased a new stake in shares of Lumentum during the 3rd quarter valued at approximately $49,000. Finally, Huntington National Bank boosted its holdings in Lumentum by 4,125.0% in the 3rd quarter. Huntington National Bank now owns 338 shares of the technology company’s stock worth $55,000 after buying an additional 330 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: NVIDIA strategic deal and US$2.0B investment underpin a major growth runway for Lumentum’s AI optics business — supports revenue visibility, R&D and a new U.S. fab. Why Lumentum (LITE) Is Down 5.3% After NVIDIA’s US$2 Billion AI Optics Investment Deal
• Positive Sentiment: CEO Michael Hurlston said Lumentum is “sold out really until the end of 2027,” signaling a heavy, multi-year backlog and strong demand for optical components. Lumentum CEO: sold out through end of 2027, no end in sight
• Positive Sentiment: Analyst optimism: Barclays raised its price target (to $750) after the NVIDIA news and earnings beat, reflecting higher modeled upside for AI optics exposure. Lumentum Holdings (LITE) Sees Strong Analyst Optimism Following Earnings & NVIDIA Deal
• Positive Sentiment: Multiple buy/recommendation write-ups and analyst coverage upgrades/new coverage are spotlighting Lumentum as a core AI-optics play. Lumentum Holdings (LITE): New Buy Recommendation for This Technology Giant
• Positive Sentiment: Inclusion in the S&P 500 (effective March 23) creates a date-certain, index-driven buyer base that should increase demand from passive funds. Lumentum Joins the S&P 500 Soon: Buy the Dip Before the Index Funds Have To?
• Neutral Sentiment: TD Cowen initiated coverage with a Hold rating and a $675 price target (modest upside vs. recent levels) — a balanced view that may temper short-term upside expectations. TD Cowen initiates coverage of Lumentum Holdings (LITE) with hold recommendation
• Negative Sentiment: Short-term selloff/volatility after the NVIDIA announcement likely reflects investor concerns about the convertible preferred structure, potential dilution and profit-taking after a strong rally. A Look At Lumentum Holdings (LITE) Valuation After Nvidia Investment And S&P 500 Inclusion

Wall Street Analyst Weigh In

LITE has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. Needham & Company LLC raised their price target on Lumentum to $850.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. JPMorgan Chase & Co. lifted their price target on Lumentum to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Citigroup boosted their price objective on Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Rosenblatt Securities increased their price objective on Lumentum to $580.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $550.38.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 3,157 shares of Lumentum 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 sale, the insider owned 88,439 shares in the company, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at $45,812,934.31. The trade was a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is currently owned by insiders.

Lumentum Trading Up 1.0%

Lumentum stock opened at $622.50 on Friday. The stock has a market cap of $44.45 billion, a P/E ratio of 190.95 and a beta of 1.38. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $783.80. The firm’s fifty day moving average price is $510.02 and its 200-day moving average price is $330.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61.

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. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million for the quarter, compared to the consensus estimate of $646.74 million. During the same quarter last year, the business posted $0.42 earnings per share. The firm’s 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. Equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

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.