Atreides Management LP Has $116.90 Million Stock Holdings in Lumentum Holdings Inc. $LITE

Key Points

• Atreides Management LP increased its stake in Lumentum Holdings by 6.8%, holding approximately $116.9 million worth of shares, making it the firm's 10th largest position.
• Wall Street analysts are optimistic about Lumentum, with price targets raised by firms like Bank of America and Stifel Nicolaus, indicating a Moderate Buy rating and an average price target of $125.86.
• Lumentum reported earnings of $0.88 EPS for the last quarter, exceeding expectations and showing a 55.9% year-over-year revenue growth.

Atreides Management LP increased its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 6.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,875,257 shares of the technology company's stock after purchasing an additional 119,938 shares during the quarter. Lumentum makes up approximately 3.5% of Atreides Management LP's portfolio, making the stock its 10th biggest holding. Atreides Management LP owned 2.70% of Lumentum worth $116,904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of LITE. Vanguard Group Inc. grew its stake in Lumentum by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock valued at $463,198,000 after buying an additional 47,811 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in Lumentum in the 1st quarter valued at approximately $260,000. Crestline Management LP purchased a new position in Lumentum in the 4th quarter valued at approximately $4,435,000. UMB Bank n.a. grew its stake in Lumentum by 132.9% in the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after buying an additional 448 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Lumentum in the 1st quarter valued at approximately $642,000. Institutional investors own 94.05% of the company's stock.

Insider Activity

In related news, SVP Jae Kim sold 4,507 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $116.88, for a total value of $526,778.16. Following the completion of the transaction, the senior vice president directly owned 33,465 shares of the company's stock, valued at $3,911,389.20. This represents a 11.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Wajid Ali sold 2,526 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $124.39, for a total transaction of $314,209.14. Following the completion of the transaction, the chief financial officer directly owned 77,087 shares of the company's stock, valued at approximately $9,588,851.93. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 81,687 shares of company stock valued at $8,398,352. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently commented on LITE. B. Riley boosted their price target on shares of Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Wall Street Zen upgraded shares of Lumentum from a "hold" rating to a "buy" rating in a research report on Sunday. Bank of America upgraded shares of Lumentum from an "underperform" rating to a "neutral" rating and boosted their price target for the company from $78.00 to $135.00 in a research report on Wednesday, August 13th. Wolfe Research began coverage on shares of Lumentum in a research report on Tuesday, August 12th. They set an "outperform" rating for the company. Finally, Barclays boosted their price target on shares of Lumentum from $75.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $125.86.

Lumentum Trading Up 5.3%

Shares of NASDAQ:LITE traded up $7.55 during midday trading on Friday, hitting $149.46. 6,408,446 shares of the stock traded hands, compared to its average volume of 4,156,646. The stock has a market capitalization of $10.45 billion, a PE ratio of 649.83 and a beta of 1.42. The business's 50 day moving average is $110.74 and its two-hundred day moving average is $83.65. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $152.27.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, beating the consensus estimate of $0.79 by $0.09. The firm had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company's quarterly revenue was up 55.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.