Lumentum Holdings Inc. $LITE Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Lumentum stake by 84.2% in the second quarter, selling 542,430 shares and retaining 101,832 shares worth approximately $87.4 million. Institutional investors and hedge funds collectively own 94.05% of the company.
• Lumentum reported quarterly EPS of $2.37, beating estimates of $2.27, while revenue rose 90.1% year over year to $808.4 million. Shares opened at $890.17, reflecting a market capitalization of about $69.3 billion and an elevated P/E ratio of 164.85.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $1,012.67, supported by strong AI-related photonics demand. However, supply constraints and the stock’s high valuation could increase downside risk if earnings or guidance disappoint.

Assenagon Asset Management S.A. reduced its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 84.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 101,832 shares of the technology company's stock after selling 542,430 shares during the quarter. Assenagon Asset Management S.A. owned 0.13% of Lumentum worth $87,378,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after acquiring an additional 114,714 shares during the period. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Lumentum during the first quarter worth $2,046,000. Whittier Trust Co. lifted its holdings in Lumentum by 21,806.5% during the first 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 in the last quarter. Andar Capital Management HK Ltd purchased a new position in Lumentum during the fourth quarter valued at $4,325,000. Finally, Styrax Capital LP grew its position in shares of Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock valued at $98,386,000 after purchasing an additional 4,837 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Shares of LITE opened at $890.17 on Friday. The company has a market cap of $69.26 billion, a P/E ratio of 164.85 and a beta of 1.50. Lumentum Holdings Inc. has a fifty-two week low of $111.20 and a fifty-two week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm's 50 day moving average price is $815.23 and its 200 day moving average price is $753.92.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business 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 firm posted $0.57 earnings per share. The company's quarterly revenue was up 90.1% compared to the same quarter last year. On average, research analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the transaction, the director directly owned 8,400 shares in the company, valued at $7,224,000. This trade represents a 32.26% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,760 shares of company stock valued at $35,670,125 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Jefferies Financial Group reiterated a "buy" rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. UBS Group boosted their price objective on Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Mizuho set a $1,100.00 target price on Lumentum in a report on Wednesday, May 6th. Finally, Craig Hallum raised their target price on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,012.67.

Key Stories Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: AI-photonics rally: Lumentum benefited from broad strength across “AI pick-and-shovel” stocks. Strong results from peers helped reinforce expectations that rising data-center connectivity requirements will support demand for optical and photonic products. These AI ‘Pick and Shovel' Plays Soared on Friday
• Positive Sentiment: Potential China-related tailwind: Reports that the Federal Communications Commission could restrict imports of new Chinese optical transceivers are raising the possibility of greater market share and pricing opportunities for U.S.-based suppliers such as Lumentum. Analysts have cited an approximately $1,100 price target and continued earnings-growth potential. The Trump Administration Could Soon Create the ‘Mother of All' AI Bottlenecks LITE Stock Alert: Analysts See Big Upside Ahead for Lumentum
• Positive Sentiment: Strong growth expectations ahead of earnings: Lumentum is expected to report fiscal fourth-quarter results Tuesday. Investors are focused on whether strong AI optics demand and the ramp of 1.6-terabit transceivers can drive another strong quarter, with options markets anticipating significant volatility around the release. Should Lumentum Stock Be in Your Portfolio Pre-Q4 Earnings? Nvidia-Backed Lumentum Reports Earnings Tuesday
• Neutral Sentiment: Peer confirmation: Applied Optoelectronics’ sharply higher second-quarter revenue and gains among other optical suppliers provided additional evidence of robust industry demand, helping lift sentiment toward Lumentum. Applied Optoelectronics Zooms Higher on Quarterly Results
• Negative Sentiment: Execution and valuation risks: Supply constraints could limit Lumentum’s ability to capitalize on AI demand, while the stock’s substantial 2026 advance and elevated valuation leave it vulnerable to an earnings miss, cautious guidance, or profit-taking. Lumentum: You Snooze, You Lose

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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