ClearAlpha Technologies LP Acquires Shares of 638 Lumentum Holdings Inc. $LITE

ClearAlpha Technologies LP acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 4th quarter, HoldingsChannel reports. The fund acquired 638 shares of the technology company’s stock, valued at approximately $235,000.

Several other large investors have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its position in shares of Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after buying an additional 114,714 shares during the last quarter. Andar Capital Management HK Ltd acquired a new stake in shares of Lumentum in the fourth quarter valued at about $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lumentum in the fourth quarter valued at about $6,755,000. Headwater Capital Co Ltd acquired a new stake in shares of Lumentum in the third quarter valued at about $20,339,000. Finally, Maxi Investments CY Ltd acquired a new stake in shares of Lumentum in the fourth quarter valued at about $2,212,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Price Performance

Lumentum stock opened at $869.98 on Thursday. Lumentum Holdings Inc. has a 12-month low of $86.57 and a 12-month high of $1,085.68. The stock has a market cap of $67.68 billion, a P/E ratio of 161.11 and a beta of 1.47. The company has a 50-day moving average price of $903.17 and a 200 day moving average price of $644.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (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 firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same period last year, the business earned $0.57 earnings per share. Lumentum’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LITE. Mizuho set a $1,100.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. TD Cowen increased their target price on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Citic Securities increased their target price on shares of Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Finally, Susquehanna increased their target price on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research report on Monday, April 20th. 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. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

Insider Activity

In other Lumentum news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 41,260 shares of company stock valued at $38,859,220 in the last quarter. Insiders own 0.43% of the company’s stock.

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.