Ariose Capital Management Ltd Makes New Investment in Lumentum Holdings Inc. $LITE

Ariose Capital Management Ltd purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, HoldingsChannel reports. The fund purchased 2,784 shares of the technology company’s stock, valued at approximately $1,956,000. Lumentum accounts for approximately 1.3% of Ariose Capital Management Ltd’s holdings, making the stock its 12th biggest holding.

Several other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership raised its stake in shares of Lumentum by 8,579.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares during the period. Norges Bank acquired a new position in shares of Lumentum during the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC acquired a new position in shares of Lumentum during the fourth quarter worth about $432,062,000. Situational Awareness LP grew its holdings in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after buying an additional 871,249 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Insider Buying and Selling

In related news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s stock in a transaction that occurred on 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. The trade was a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,422 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the sale, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. This trade represents a 4.21% 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 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Craig Hallum boosted their target price on Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Citigroup boosted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Price Performance

Shares of LITE stock opened at $728.32 on Friday. Lumentum Holdings Inc. has a 52-week low of $88.93 and a 52-week high of $1,085.68. The stock has a market cap of $56.66 billion, a price-to-earnings ratio of 134.87 and a beta of 1.48. The firm’s 50-day moving average is $892.56 and its 200-day moving average is $683.79. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Lumentum 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.