Lumentum Holdings Inc. $LITE Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 35.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 644,262 shares of the technology company’s stock after selling 350,216 shares during the quarter. Lumentum makes up approximately 0.7% of Assenagon Asset Management S.A.’s holdings, making the stock its 23rd biggest position. Assenagon Asset Management S.A.’s holdings in Lumentum were worth $452,762,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of LITE. Arrowstreet Capital Limited Partnership grew its position in Lumentum by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after acquiring an additional 291,591 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after purchasing an additional 123,265 shares in the last quarter. Situational Awareness LP increased its position in 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 during the last quarter. Norges Bank acquired a new position in Lumentum during the fourth quarter worth $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new position in Lumentum during the fourth quarter valued at about $432,062,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. JPMorgan Chase & Co. boosted their target price on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. 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 report on Wednesday, June 3rd. Finally, BNP Paribas Exane boosted their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Activity at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum 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 sale, the director 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. The sale was disclosed in a document filed 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 business’s stock in a transaction that occurred 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 sale, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their ownership of the stock. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 in the last three months. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $827.92 on Wednesday. The firm’s 50-day moving average is $901.56 and its 200-day moving average is $659.98. The company has a market cap of $64.41 billion, a price-to-earnings ratio of 153.32 and a beta of 1.47. 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 Holdings Inc. has a 52-week low of $88.37 and a 52-week high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating 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 business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter last year, the company earned $0.57 earnings per share. The firm’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. Equities research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

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.