QRG Capital Management Inc. Boosts Stock Position in Lumentum Holdings Inc. $LITE

Key Points

• QRG Capital Management increased its stake in Lumentum Holdings by 254.5% in the first quarter, ending with 2,074 shares valued at about $1.46 million.
• Lumentum reported strong quarterly results, with EPS of $2.37 topping estimates and revenue up 90.1% year over year, while also issuing Q4 2026 EPS guidance of $2.85 to $3.05.
• Despite the upbeat fundamentals, the stock was down 4.4% in the session, and recent insider transactions included sales by the CFO and another insider under pre-arranged trading plans.

QRG Capital Management Inc. grew its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 254.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,074 shares of the technology company's stock after purchasing an additional 1,489 shares during the quarter. QRG Capital Management Inc.'s holdings in Lumentum were worth $1,458,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its position in Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company's stock valued at $683,661,000 after buying an additional 291,591 shares during the period. Geode Capital Management LLC raised its position in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company's stock worth $521,563,000 after acquiring an additional 123,265 shares during the period. Situational Awareness LP raised its position in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock worth $478,577,000 after acquiring an additional 880,800 shares during the period. Norges Bank purchased a new position in Lumentum in the fourth quarter valued at about $474,495,000. Finally, Value Aligned Research Advisors LLC purchased a new position in Lumentum in the fourth quarter valued at about $432,062,000. 94.05% of the stock is currently owned by institutional investors.

Lumentum Stock Down 4.4%

LITE opened at $698.91 on Wednesday. Lumentum Holdings Inc. has a 12 month low of $88.93 and a 12 month high of $1,085.68. The company has a market cap of $54.38 billion, a PE ratio of 129.43 and a beta of 1.48. 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 company has a 50 day moving average of $886.59 and a 200 day moving average of $691.84.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business's revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The stock was 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 approximately $58,144,206.45. This represents a 3.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares of the company's stock, valued at $85,438,623.85. The trade was a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on LITE shares. Needham & Company LLC restated a "buy" rating and set a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. B. Riley Financial reiterated a "buy" rating on shares of Lumentum in a research note on Friday, May 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Lumentum in a research report on Tuesday, April 21st. Mizuho set a $1,100.00 target price on Lumentum in a research note on Wednesday, May 6th. Finally, Susquehanna upped their price target on Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a research report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Lumentum has an average rating of "Moderate Buy" and a consensus price target of $1,021.95.

About Lumentum

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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