Oasis Management Co Ltd. Decreases Position in Lumentum Holdings Inc. $LITE

Key Points

• Oasis Management reduced its stake in Lumentum by 17.8% in the fourth quarter, selling 1,350 shares and leaving it with 6,250 shares valued at about $2.3 million.
• Lumentum reported better-than-expected earnings for the latest quarter, with EPS of $2.37 versus $2.27 expected, while revenue rose 90.1% year over year to $808.4 million.
• Analysts remain broadly upbeat on the stock, with several firms raising price targets and the consensus rating sitting at Moderate Buy with an average target of $1,021.95.

Oasis Management Co Ltd. cut its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 17.8% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 6,250 shares of the technology company's stock after selling 1,350 shares during the period. Oasis Management Co Ltd.'s holdings in Lumentum were worth $2,304,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Lumentum by 45.0% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after purchasing an additional 114,714 shares during the last quarter. Andar Capital Management HK Ltd purchased a new position in shares of Lumentum during the fourth quarter valued at approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Lumentum during the fourth quarter valued at approximately $6,755,000. Headwater Capital Co Ltd purchased a new position in shares of Lumentum during the third quarter valued at approximately $20,339,000. Finally, Maxi Investments CY Ltd purchased a new position in shares of Lumentum during the fourth quarter valued at approximately $2,212,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $921.56 on Friday. The firm has a 50 day moving average of $897.64 and a 200 day moving average of $629.72. 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 $71.70 billion, a price-to-earnings ratio of 170.66 and a beta of 1.47. Lumentum Holdings Inc. has a 12-month low of $81.93 and a 12-month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm's quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts anticipate that Lumentum Holdings Inc. will post 6.49 earnings per share for the current year.

Analysts Set New Price Targets

LITE has been the subject of several research reports. BNP Paribas Exane boosted their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. TD Cowen boosted their price objective on shares of Lumentum from $875.00 to $995.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Rosenblatt Securities boosted their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a "buy" rating in a report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an "overweight" rating in a report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $1,021.95.

Insider Activity at Lumentum

In related news, insider Vincent Retort sold 3,183 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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, CFO Wajid Ali sold 2,487 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares of the company's stock, valued at $58,144,206.45. This trade represents a 3.92% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 in the last three months. Corporate insiders own 0.43% of the company's stock.

Lumentum Company 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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