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

Key Points

• Assenagon Asset Management cut its Lumentum position by 24.3% in the third quarter, selling 24,789 shares and retaining 77,043 shares valued at approximately $74.8 million. Institutional investors collectively own 94.05% of Lumentum.
• Lumentum reported quarterly earnings of $3.23 per share, beating estimates of $2.97, while revenue rose 109.3% year over year to $1.01 billion. The company issued Q1 2027 EPS guidance of $4.05 to $4.35.
• Analyst sentiment remains broadly positive, with 16 Buy ratings, six Holds and one Sell, producing a “Moderate Buy” consensus and average price target of $1,078.75, though recent downgrades and insider selling highlight valuation concerns.

Assenagon Asset Management S.A. lowered its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 24.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,043 shares of the technology company's stock after selling 24,789 shares during the period. Assenagon Asset Management S.A. owned approximately 0.09% of Lumentum worth $74,829,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue grew its stake in shares of Lumentum by 10.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,396 shares of the technology company's stock worth $8,154,000 after purchasing an additional 773 shares during the period. Formuepleje A S acquired a new position in shares of Lumentum during the third quarter valued at approximately $443,000. Turtle Creek Wealth Advisors LLC raised its holdings in shares of Lumentum by 12.2% during the third quarter. Turtle Creek Wealth Advisors LLC now owns 321 shares of the technology company's stock valued at $312,000 after acquiring an additional 35 shares during the last quarter. VMS Asset Management Limited purchased a new stake in shares of Lumentum during the third quarter worth $8,874,000. Finally, Mather Group LLC. raised its position in shares of Lumentum by 473.5% in the third quarter. Mather Group LLC. now owns 195 shares of the technology company's stock valued at $190,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum Stock Performance

Shares of Lumentum stock opened at $824.13 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 52 week low of $152.54 and a 52 week high of $1,143.00. The firm's 50 day moving average is $931.48 and its two-hundred day moving average is $876.06. The firm has a market capitalization of $74.65 billion, a P/E ratio of -10.02 and a beta of 1.53.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%. The business's quarterly revenue was up 109.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LITE. Weiss Ratings lowered shares of Lumentum from a "hold (c-)" rating to a "sell (d-)" rating in a report on Wednesday, August 19th. Morgan Stanley boosted their target price on shares of Lumentum from $900.00 to $1,000.00 and gave the company an "equal weight" rating in a report on Wednesday, August 12th. Citigroup raised their price target on shares of Lumentum from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Monday, September 28th. Zacks Research lowered shares of Lumentum from a "strong-buy" rating to a "hold" rating in a report on Monday, October 12th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Lumentum in a research report on Monday, August 31st. They issued a "buy" rating and a $1,200.00 target price on the stock. Sixteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $1,078.75.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum is reportedly sold out of much of its capacity through 2029, suggesting strong visibility for future revenue as AI data-center operators expand their optical-networking infrastructure. Wedbush views the supply constraints as potentially beneficial to industry economics, although the article also considers implications for GlobalFoundries. Lumentum is sold out through 2029
• Positive Sentiment: BNP Paribas raised its price target for Lumentum to $1,425, signaling confidence that demand for the company’s optical and laser products can support additional upside. BNP Paribas lifts target for Lumentum
• Positive Sentiment: The upcoming earnings report is expected to be closely watched for evidence that AI-driven demand, order visibility and margins remain strong. Lumentum’s latest reported quarter exceeded both earnings and revenue estimates, with revenue more than doubling year over year. Earnings preview for Lumentum
• Neutral Sentiment: A survey of 23 analysts places the average price target at $1,078.75, indicating continued upside potential but also considerable disagreement about how much of Lumentum’s AI growth is already reflected in the stock. Analyst price targets for Lumentum
• Negative Sentiment: Zacks downgraded Lumentum to Hold, adding to near-term pressure and signaling that the stock’s valuation and recent gains may warrant caution. Zacks downgrades Lumentum to Hold
• Negative Sentiment: Optical stocks, including Lumentum, have extended their decline as investors rotate toward defensive sectors. The group-wide selling suggests that market positioning and risk appetite—not only company-specific fundamentals—are weighing on LITE. Optical stocks extend slide
• Negative Sentiment: A risk assessment notes that Lumentum shares remain highly exposed to expectations for AI data-center spending after a substantial one-year increase. The recent pullback reflects concerns that valuation leaves little room for execution disappointments or a slowdown in customer demand. How risky is Lumentum stock?

Insider Activity at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of the firm's stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the completion of the sale, the chief financial officer owned 75,074 shares in the company, valued at approximately $78,715,089. This trade represents a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 38,663 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the completion of the sale, the insider directly owned 78,440 shares of the company's stock, valued at $66,877,159.60. This represents a 33.02% decrease in their ownership of the stock. 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 94,496 shares of company stock worth $85,978,498 in the last 90 days. Corporate insiders own 0.28% of the company's stock.

About Lumentum

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company's product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.

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