Artemis Wealth Advisors LLC Takes $2.21 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Artemis Wealth Advisors initiated a new position in Lumentum Holdings, buying 6,000 shares worth about $2.21 million. The stake now represents roughly 0.3% of its portfolio and is its 18th-largest holding.
• Institutional interest remains heavy, with several large funds making major moves in Lumentum and about 94.05% of the stock owned by institutional investors. Recent analyst commentary has also been upbeat, with multiple firms raising price targets and the consensus rating sitting at Moderate Buy.
• Lumentum posted strong quarterly results, including earnings of $2.37 per share versus estimates of $2.27 and revenue up 90.1% year over year. The company also guided Q4 2026 EPS at 2.85 to 3.05.

Artemis Wealth Advisors LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,000 shares of the technology company's stock, valued at approximately $2,212,000. Lumentum makes up approximately 0.3% of Artemis Wealth Advisors LLC's portfolio, making the stock its 18th largest position.

Several other institutional investors also recently modified their holdings of LITE. Arrowstreet Capital Limited Partnership grew its holdings 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 valued at $254,350,000 after acquiring an additional 1,545,199 shares in the last quarter. Norges Bank bought a new position in shares of Lumentum in the fourth quarter valued at approximately $474,495,000. Situational Awareness LP grew its holdings in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after acquiring an additional 871,249 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of Lumentum in the third quarter valued at approximately $136,401,000. 94.05% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LITE shares. Morgan Stanley upped their target price on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a report on Wednesday, May 6th. Rosenblatt Securities upped their target price on Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Zacks Research raised Lumentum from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Weiss Ratings reissued a "hold (c)" rating on shares of Lumentum in a report on Tuesday, April 21st. Finally, Craig Hallum increased their price objective on Lumentum from $900.00 to $1,150.00 in a report 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 issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Insider Activity

In other Lumentum news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. This represents a 16.86% decrease in their position. 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. Over the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $921.56 on Friday. The stock has a fifty day simple moving average of $897.64 and a two-hundred day simple moving average of $629.72. Lumentum Holdings Inc. has a 1-year low of $81.93 and a 1-year high of $1,085.68. The firm has a market cap of $71.70 billion, a price-to-earnings ratio of 170.66 and a beta of 1.47. 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 - Get Free Report) last announced its quarterly earnings data 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 return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the company earned $0.57 earnings per share. Lumentum's revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 6.49 earnings per share 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.

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