Castleark Management LLC Sells 34,670 Shares of Lumentum Holdings Inc. $LITE

Castleark Management LLC lessened its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 52.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,153 shares of the technology company’s stock after selling 34,670 shares during the quarter. Castleark Management LLC’s holdings in Lumentum were worth $11,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new stake in Lumentum in the fourth quarter valued at about $28,000. Triumph Capital Management bought a new stake in Lumentum in the fourth quarter valued at about $30,000. Harbour Investments Inc. increased its holdings in Lumentum by 675.0% in the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after purchasing an additional 81 shares during the last quarter. Chesapeake Asset Management LLC bought a new stake in Lumentum in the fourth quarter valued at about $37,000. Finally, BOCHK Asset Management Ltd bought a new stake in Lumentum in the fourth quarter valued at about $37,000. Institutional investors own 94.05% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on LITE. Citic Securities increased their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. JPMorgan Chase & Co. increased their price target on Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Northland Securities increased their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Barclays increased their price target on Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Performance

LITE opened at $921.56 on Friday. Lumentum Holdings Inc. has a 12-month low of $81.93 and a 12-month high of $1,085.68. The stock has a market cap of $71.70 billion, a price-to-earnings ratio of 170.66 and a beta of 1.47. The business has a 50 day moving average of $897.64 and a 200-day moving average of $629.72. The company has a quick ratio of 0.97, a current ratio of 1.14 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, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

Insider Activity at Lumentum

In other news, Director Brian Lillie sold 11,951 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 41,260 shares of company stock valued at $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

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.