PointState Capital LP Purchases New Position in Lumentum Holdings Inc. $LITE

Key Points

• PointState Capital LP has made a significant investment of approximately $213.50 million in Lumentum Holdings Inc., acquiring 3,424,813 shares, which constitutes 3.1% of its investment portfolio.
• Lumentum reported a 55.9% year-over-year revenue growth for the recent quarter, with earnings per share exceeding analyst expectations by $0.09.
• Institutional investors and hedge funds own about 94.05% of Lumentum's stock, indicating strong interest and confidence in the company's potential.

PointState Capital LP purchased a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 3,424,813 shares of the technology company's stock, valued at approximately $213,503,000. Lumentum makes up 3.1% of PointState Capital LP's investment portfolio, making the stock its 8th largest position. PointState Capital LP owned 4.93% of Lumentum as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Lumentum in the 1st quarter valued at approximately $25,000. Rakuten Securities Inc. raised its stake in shares of Lumentum by 164.4% in the 1st quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock valued at $30,000 after acquiring an additional 296 shares in the last quarter. Golden State Wealth Management LLC raised its stake in shares of Lumentum by 103.2% in the 1st quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock valued at $32,000 after acquiring an additional 260 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Lumentum by 2,235.3% in the 4th quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock valued at $33,000 after acquiring an additional 380 shares in the last quarter. Finally, SVB Wealth LLC bought a new position in shares of Lumentum in the 1st quarter valued at approximately $40,000. 94.05% of the stock is owned by institutional investors.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded down $0.73 during trading on Thursday, hitting $164.15. 1,585,559 shares of the stock were exchanged, compared to its average volume of 2,712,360. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $168.01. The company has a market capitalization of $11.47 billion, a price-to-earnings ratio of 714.20 and a beta of 1.42. The company's fifty day simple moving average is $114.51 and its 200-day simple moving average is $85.20. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on LITE shares. Susquehanna raised their price objective on Lumentum to $125.00 and gave the company a "positive" rating in a research note on Tuesday, August 12th. Wolfe Research began coverage on Lumentum in a report on Tuesday, August 12th. They issued an "outperform" rating on the stock. Bank of America raised Lumentum from an "underperform" rating to a "neutral" rating and raised their target price for the company from $78.00 to $135.00 in a report on Wednesday, August 13th. UBS Group raised their target price on Lumentum from $78.00 to $130.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Finally, B. Riley raised their target price on Lumentum from $73.00 to $83.00 and gave the company a "neutral" rating in a report on Wednesday, August 13th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $128.00.

Insider Activity at Lumentum

In related news, Director Julia Suzanne Johnson sold 1,250 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $119.06, for a total value of $148,825.00. Following the sale, the director owned 22,037 shares of the company's stock, valued at $2,623,725.22. The trade was a 5.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Yuen Wupen sold 3,281 shares of the business's stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $124.86, for a total value of $409,665.66. Following the completion of the sale, the insider directly owned 101,273 shares in the company, valued at approximately $12,644,946.78. This represents a 3.14% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 81,687 shares of company stock worth $8,398,352 in the last three months. Company insiders own 0.19% of the company's stock.

About Lumentum

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.