Assetmark Inc. Grows Holdings in Lumentum Holdings Inc. $LITE

Key Points

• Assetmark Inc. dramatically increased its position in Lumentum Holdings during the first quarter, boosting its stake by 21,974.6% to 13,907 shares valued at about $9.8 million.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 94.05% of Lumentum’s shares, and several other firms also recently adding to their positions.
• Lumentum posted strong earnings and upbeat guidance, reporting $2.37 EPS on revenue of $808.4 million and raising its Q4 2026 EPS guidance, while analysts maintain a consensus “Moderate Buy” rating with a $1,012.67 price target.

Assetmark Inc. grew its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 21,974.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,907 shares of the technology company's stock after buying an additional 13,844 shares during the quarter. Assetmark Inc.'s holdings in Lumentum were worth $9,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. lifted its stake in Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock worth $136,306,000 after acquiring an additional 114,714 shares during the period. Andar Capital Management HK Ltd bought a new stake in Lumentum in the fourth quarter valued at $4,325,000. Whittier Trust Co. increased its position in Lumentum by 21,806.5% during the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock valued at $57,183,000 after purchasing an additional 73,706 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Lumentum during the 4th quarter valued at $6,755,000. Finally, Maxi Investments CY Ltd bought a new position in Lumentum in the 4th quarter worth $2,212,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 3,183 shares of the firm'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 transaction of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares of the company's stock, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company's stock, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by company insiders.

Lumentum Trading Up 4.5%

NASDAQ LITE opened at $765.55 on Tuesday. Lumentum Holdings Inc. has a 12 month low of $97.55 and a 12 month high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock's fifty day moving average price is $859.31 and its 200-day moving average price is $715.91. The stock has a market cap of $59.56 billion, a P/E ratio of 141.77 and a beta of 1.48.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly 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 analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

LITE has been the subject of several research analyst reports. Barclays raised their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 6th. Weiss Ratings reissued a "hold (c)" rating on shares of Lumentum in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an "overweight" rating in a report on Wednesday, May 6th. Susquehanna lifted their price objective on Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a research report on Monday, April 20th. Finally, Loop Capital upped their target price on Lumentum from $900.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, May 5th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Lumentum has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.67.

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.

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