Lumentum Holdings Inc. $LITE Holdings Cut by Broad Peak Investment Advisers Pte Ltd

Key Points

• Broad Peak Investment Advisers cut its Lumentum stake by 62% in the first quarter, selling 120,000 shares and leaving it with 73,580 shares worth about $51.7 million.
• Lumentum reported stronger-than-expected quarterly results, with EPS of $2.37 beating estimates and revenue up 90.1% year over year; the company also guided Q4 2026 EPS to $2.85-$3.05.
• Analyst sentiment remains positive overall, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus target of $1,021.95, while insiders have also recently sold shares.

Broad Peak Investment Advisers Pte Ltd reduced its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 62.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 73,580 shares of the technology company's stock after selling 120,000 shares during the period. Lumentum accounts for about 10.5% of Broad Peak Investment Advisers Pte Ltd's investment portfolio, making the stock its 4th largest position. Broad Peak Investment Advisers Pte Ltd owned about 0.10% of Lumentum worth $51,709,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its position in shares of Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after buying an additional 254 shares during the last quarter. NewEdge Advisors LLC boosted its position in Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock worth $747,000 after acquiring an additional 6,275 shares during the last quarter. Empowered Funds LLC grew its stake in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock worth $507,000 after acquiring an additional 680 shares during the period. Hsbc Holdings PLC purchased a new stake in Lumentum in the 2nd quarter worth approximately $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Lumentum in the 2nd quarter valued at $1,712,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Trading Up 4.2%

Shares of LITE opened at $851.40 on Tuesday. 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 firm has a market capitalization of $66.24 billion, a P/E ratio of 157.67 and a beta of 1.47. The stock's fifty day simple moving average is $900.23 and its 200 day simple moving average is $674.14. Lumentum Holdings Inc. has a twelve month low of $88.37 and a twelve month high of $1,085.68.

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, 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 firm had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm's quarterly 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. On average, equities research analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insider Transactions at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 6,984 shares of the company's stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the business's stock in a transaction dated 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 represents a 19.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 41,260 shares of company stock worth $38,859,220 in the last quarter. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LITE. Zacks Research raised Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. Barclays lifted their price objective 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. Citigroup upped their target price on Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research note on Tuesday, April 21st. Susquehanna increased their target price on Lumentum from $550.00 to $1,100.00 and gave the stock a "positive" rating in a research report on Monday, April 20th. Finally, Northland Securities raised their price target on Lumentum from $1,000.00 to $1,200.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

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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