State of New Jersey Common Pension Fund D Cuts Stock Position in Lumentum Holdings Inc. $LITE

Key Points

• State of New Jersey Common Pension Fund D reduced its stake in Lumentum by 5.1% in Q4, trimming 1,335 shares to hold 24,699 shares valued at about $9.10 million.
• Lumentum beat Q4 estimates with $1.67 EPS versus $1.41 expected and $665.5M revenue (up 65.5% YoY), issued Q3 2026 EPS guidance of 2.150–2.350, and has an average analyst rating of Moderate Buy with a $757.25 target.
• Institutional ownership is very concentrated at 94.05%, with large buys from funds like Federated Hermes and several new institutional stakes, while insiders have recently sold 65,775 shares over the past 90 days (insider ownership ~0.43%).

State of New Jersey Common Pension Fund D cut its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,699 shares of the technology company's stock after selling 1,335 shares during the period. State of New Jersey Common Pension Fund D's holdings in Lumentum were worth $9,104,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in Lumentum by 7,168.8% during the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company's stock valued at $58,958,000 after purchasing an additional 357,367 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lumentum during the 4th quarter valued at approximately $6,755,000. FengHe Fund Management Pte. Ltd. acquired a new stake in Lumentum during the 3rd quarter valued at approximately $71,771,000. Headwater Capital Co Ltd acquired a new position in shares of Lumentum in the 3rd quarter worth approximately $20,339,000. Finally, China Universal Asset Management Co. Ltd. acquired a new position in shares of Lumentum in the 3rd quarter worth approximately $1,383,000. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

Lumentum Stock Performance

LITE stock opened at $949.93 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The stock has a market capitalization of $67.83 billion, a price-to-earnings ratio of 291.39 and a beta of 1.53. Lumentum Holdings Inc. has a 1 year low of $60.38 and a 1 year high of $985.13. The stock's fifty day moving average is $760.12 and its two-hundred day moving average is $484.10.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.26. The company had revenue of $665.50 million for the quarter, compared to analysts' expectations of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm's quarterly revenue was up 65.5% compared to the same quarter last year. During the same period last year, the business posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 5.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LITE. JPMorgan Chase & Co. lifted their target price on Lumentum to $950.00 and gave the stock an "overweight" rating in a research report on Thursday, April 9th. Zacks Research lowered Lumentum from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 13th. B. Riley Financial reissued a "buy" rating on shares of Lumentum in a report on Friday. Bank of America increased their target price on shares of Lumentum to $520.00 and gave the stock a "neutral" rating in a report on Wednesday, February 4th. Finally, Northland Securities set a $1,000.00 price target on shares of Lumentum in a report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Lumentum presently has an average rating of "Moderate Buy" and an average price target of $757.25.

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 5,302 shares of the firm's stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the sale, the chief financial officer directly owned 66,287 shares in the company, valued at approximately $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 3,441 shares of the firm's stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the sale, the insider owned 95,975 shares in the company, valued at $52,381,235.50. The trade was a 3.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,775 shares of company stock valued at $38,851,343. 0.43% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.