Atreides Management LP decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 30.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,389 shares of the technology company's stock after selling 115,416 shares during the quarter. Lumentum comprises approximately 3.8% of Atreides Management LP's holdings, making the stock its 7th largest position. Atreides Management LP owned about 0.34% of Lumentum worth $187,910,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Hilton Head Capital Partners LLC bought a new stake in shares of Lumentum in the 1st quarter valued at approximately $25,000. Sachetta LLC increased its position in Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company's stock worth $25,000 after purchasing an additional 19 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Lumentum during the fourth quarter worth approximately $28,000. Truvestments Capital LLC lifted its stake in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock valued at $28,000 after purchasing an additional 57 shares during the period. Finally, Triumph Capital Management bought a new position in Lumentum during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 94.05% of the company's stock.
Lumentum Stock Performance
Shares of Lumentum stock opened at $651.93 on Wednesday. The company has a market cap of $50.72 billion, a P/E ratio of 120.73 and a beta of 1.48. The business has a 50-day moving average price of $836.46 and a two-hundred day moving average price of $732.51. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1-year low of $101.61 and a 1-year high of $1,085.68.
Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 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 analysts' expectations of $810.21 million. During the same quarter last year, the firm posted $0.57 earnings per share. The company's revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current year.
Insider Transactions at Lumentum
In other Lumentum news, insider Yuen Wupen sold 3,210 shares of the business's stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the sale, the insider owned 81,488 shares in the company, valued at approximately $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 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 transaction of $3,440,000.00. Following the sale, the director directly owned 8,400 shares of the company's stock, valued at $7,224,000. The trade was a 32.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on LITE. Weiss Ratings reissued a "hold (c)" rating on shares of Lumentum in a research report on Friday, July 17th. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the company an "equal weight" rating in a research report on Wednesday, May 6th. Jefferies Financial Group restated a "buy" rating and set a $1,200.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Needham & Company LLC reaffirmed a "buy" rating and set a $1,040.00 price target on shares of Lumentum in a report on Tuesday, June 9th. Finally, UBS Group boosted their price objective on Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $1,012.67.
Read Our Latest Analysis on Lumentum
About Lumentum
(
Free Report)
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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