Assetmark Inc. Raises Stock Holdings in Lumentum Holdings Inc. $LITE

Assetmark Inc. raised its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 21,974.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 13,907 shares of the technology company’s stock after acquiring an additional 13,844 shares during the period. Assetmark Inc.’s holdings in Lumentum were worth $9,773,000 as of its most recent SEC filing.

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

Lumentum Price Performance

Shares of Lumentum stock opened at $765.55 on Tuesday. The stock’s 50-day simple moving average is $859.31 and its 200-day simple moving average is $715.91. Lumentum Holdings Inc. has a 52 week low of $97.55 and a 52 week high of $1,085.68. The company has a market capitalization of $59.56 billion, a price-to-earnings ratio of 141.77 and a beta of 1.48. 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 earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm 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%.The firm’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Barclays increased their price target on Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. Citic Securities increased their target price on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. UBS Group raised their target price on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Finally, Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,012.67.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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. Also, Director Brian Lillie sold 11,951 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the sale, the director directly owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,260 shares of company stock worth $38,859,220 over the last ninety days. 0.43% of the stock is owned by company insiders.

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.