Aspex Management HK Ltd Invests $251.36 Million in Lumentum Holdings Inc. $LITE

Aspex Management HK Ltd purchased a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the fourth quarter, Holdings Channel reports. The fund purchased 681,959 shares of the technology company’s stock, valued at approximately $251,363,000. Lumentum accounts for approximately 5.1% of Aspex Management HK Ltd’s portfolio, making the stock its 10th biggest position.

A number of other hedge funds have also made changes to their positions in the stock. Summit Financial LLC acquired a new position in Lumentum in the fourth quarter worth approximately $383,000. Circle Wealth Management LLC acquired a new position in Lumentum in the fourth quarter worth approximately $1,076,000. Quadrant Capital Group LLC increased its holdings in Lumentum by 53.9% in the fourth quarter. Quadrant Capital Group LLC now owns 6,767 shares of the technology company’s stock worth $2,494,000 after buying an additional 2,371 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Lumentum by 95.7% in the fourth quarter. Advisors Asset Management Inc. now owns 15,225 shares of the technology company’s stock worth $5,612,000 after buying an additional 7,447 shares during the last quarter. Finally, Hollencrest Capital Management increased its holdings in Lumentum by 36,336.4% in the fourth quarter. Hollencrest Capital Management now owns 4,008 shares of the technology company’s stock worth $1,477,000 after buying an additional 3,997 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Lumentum news, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director owned 21,008 shares in the company, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders have sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

LITE has been the topic of several analyst reports. UBS Group increased their price target on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Rosenblatt Securities raised their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Finally, B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Price Performance

Lumentum stock opened at $921.56 on Friday. The firm has a market capitalization of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47. Lumentum Holdings Inc. has a 1 year low of $81.93 and a 1 year high of $1,085.68. The business has a 50-day moving average of $897.64 and a 200-day moving average of $629.72. 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 issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

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.