1832 Asset Management L.P. Invests $4.24 Million in Lumentum Holdings Inc. $LITE

1832 Asset Management L.P. purchased a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 44,600 shares of the technology company’s stock, valued at approximately $4,240,000.

Several other hedge funds have also recently bought and sold shares of LITE. Cetera Investment Advisers increased its stake in Lumentum by 91.2% in the 1st quarter. Cetera Investment Advisers now owns 14,681 shares of the technology company’s stock valued at $915,000 after buying an additional 7,002 shares during the period. Natixis Advisors LLC acquired a new stake in shares of Lumentum during the 1st quarter valued at $2,398,000. PNC Financial Services Group Inc. grew its holdings in shares of Lumentum by 75.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,220 shares of the technology company’s stock valued at $325,000 after acquiring an additional 2,237 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Lumentum by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock valued at $463,198,000 after acquiring an additional 47,811 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Lumentum by 6.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,822 shares of the technology company’s stock worth $2,108,000 after acquiring an additional 2,105 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Jae Kim sold 170 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $246.00, for a total transaction of $41,820.00. Following the completion of the sale, the senior vice president owned 38,400 shares in the company, valued at $9,446,400. This trade represents a 0.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Isaac Hosojiro Harris sold 7,200 shares of the business’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the completion of the transaction, the director owned 9,764 shares in the company, valued at approximately $2,375,776.48. This trade represents a 42.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,612 shares of company stock worth $7,317,398 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. KGI Securities assumed coverage on Lumentum in a research report on Monday, August 18th. They set an “outperform” rating for the company. Northland Securities set a $350.00 price target on Lumentum in a research note on Wednesday. Citigroup assumed coverage on Lumentum in a report on Friday, August 29th. They set a “buy” rating and a $165.00 price target for the company. Rosenblatt Securities increased their price objective on Lumentum to $380.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Bank of America raised shares of Lumentum from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $78.00 to $135.00 in a research report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.00.

Lumentum Trading Up 1.1%

Shares of Lumentum stock opened at $331.41 on Friday. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $344.00. The company’s fifty day simple moving average is $218.98 and its 200-day simple moving average is $148.06. The company has a market cap of $23.50 billion, a price-to-earnings ratio of 222.42 and a beta of 1.53. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 2.77.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. The company had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The company’s quarterly revenue was up 58.4% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, sell-side analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.