Talos Eurisko Asset Management LP Takes $21.51 Million Position in Lumentum Holdings Inc. $LITE

Key Points

• Talos Eurisko Asset Management disclosed a new fourth-quarter stake in Lumentum Holdings worth about $21.5 million, buying 58,353 shares. The position makes Lumentum its 8th-largest holding and about 3.8% of its portfolio.
• Institutional interest remains strong, with hedge funds and other investors owning 94.05% of Lumentum. Several firms sharply increased or initiated positions, including Arrowstreet Capital, Norges Bank, Situational Awareness LP, and Assenagon Asset Management.
• Insiders sold shares recently, including director Ian Small and insider Vincent Retort, while total insider selling over the last 90 days reached 41,260 shares worth about $38.9 million. Despite the sales, Lumentum’s latest quarterly results beat EPS estimates and analysts maintain a Moderate Buy consensus with a target price of $1,021.95.

Talos Eurisko Asset Management LP bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 58,353 shares of the technology company's stock, valued at approximately $21,508,000. Lumentum makes up about 3.8% of Talos Eurisko Asset Management LP's holdings, making the stock its 8th largest position. Talos Eurisko Asset Management LP owned about 0.08% of Lumentum as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LITE. Arrowstreet Capital Limited Partnership lifted its position in shares of Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after buying an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in Lumentum in the 4th quarter valued at $474,495,000. Situational Awareness LP lifted its holdings in Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Lumentum by 707.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after purchasing an additional 871,249 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in Lumentum in the 3rd quarter valued at $136,401,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Insider Buying and Selling

In other Lumentum news, Director Ian Small sold 4,954 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares of the company's stock, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their position. 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 worth $38,859,220 over the last 90 days. 0.43% of the stock is owned by insiders.

Lumentum Stock Performance

NASDAQ LITE opened at $957.24 on Tuesday. The company has a market cap of $74.47 billion, a P/E ratio of 177.27 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The stock has a 50-day moving average of $900.25 and a two-hundred day moving average of $636.73. Lumentum Holdings Inc. has a 1-year low of $83.42 and a 1-year high of $1,085.68.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LITE. Susquehanna raised their price objective on Lumentum from $550.00 to $1,100.00 and gave the company a "positive" rating in a report on Monday, April 20th. UBS Group raised their price objective on Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Zacks Research upgraded Lumentum from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. Mizuho set a $1,100.00 price objective on Lumentum in a report on Wednesday, May 6th. Finally, Loop Capital raised their price objective on Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,021.95.

Lumentum 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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