Thrivent Financial for Lutherans Raises Position in Lumentum Holdings Inc. $LITE

Key Points

• Thrivent Financial for Lutherans increased its Lumentum stake by 12.4% in the fourth quarter, bringing its holdings to 18,020 shares worth about $6.64 million.
• Lumentum has been getting a stream of bullish catalysts, including addition to the Nasdaq-100, strong analyst support, and commentary tying demand to AI infrastructure and data center optics.
• The company’s latest earnings beat expectations, with EPS of $2.37 versus estimates of $2.27 and revenue up 90.1% year over year, while analysts now see an average price target of $1,012.43.

Thrivent Financial for Lutherans raised its holdings in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,020 shares of the technology company's stock after buying an additional 1,984 shares during the period. Thrivent Financial for Lutherans' holdings in Lumentum were worth $6,642,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. boosted its position in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company's stock valued at $59,000 after buying an additional 254 shares during the period. NewEdge Advisors LLC boosted its position in Lumentum by 109.9% in the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company's stock valued at $747,000 after buying an additional 6,275 shares during the period. Empowered Funds LLC boosted its position in Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company's stock valued at $507,000 after buying an additional 680 shares during the period. Hsbc Holdings PLC purchased a new position in Lumentum in the 2nd quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Lumentum in the 2nd quarter valued at approximately $1,712,000. Hedge funds and other institutional investors own 94.05% of the company's stock.

Lumentum News Summary

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, a move that can attract buying from index funds and ETFs and broaden institutional ownership. Lumentum (LITE) Joins Nasdaq-100 Index
• Positive Sentiment: Zacks highlighted Lumentum as one of its top momentum stocks and a Zacks Rank #1 (Strong Buy), reinforcing the bullish momentum narrative. Are You Looking for a Top Momentum Pick? Why Lumentum (LITE) is a Great Choice
• Positive Sentiment: Analyst coverage remains constructive, with multiple firms lifting price targets and several reports pointing to demand tied to AI infrastructure and data center optics. 3 Stocks Backed By Broker Rating Upgrades Worth Betting On
• Positive Sentiment: Recent bullish commentary says Lumentum’s photonic products are benefiting from strong AI and data center demand, with capacity constraints supporting revenue and margin expansion. Lumentum: Priced For Growth, But Not For What Comes Next - Double Growth Cycles
• Positive Sentiment: The company’s last earnings report beat EPS expectations and included strong year-over-year revenue growth, supporting the growth story behind the stock. Lumentum stock details and earnings summary

Insider Activity

In related news, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,062,179.50. Following the sale, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. This trade represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, Director Pamela Fletcher sold 1,578 shares of Lumentum stock in a transaction on Friday, May 15th. The stock was sold at an average price of $940.82, for a total transaction of $1,484,613.96. Following the sale, the director owned 7,406 shares in the company, valued at $6,967,712.92. This represents a 17.56% decrease in their ownership of the stock. 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. Insiders sold 36,192 shares of company stock worth $33,367,059 over the last three months. Company insiders own 0.43% of the company's stock.

Lumentum Price Performance

Shares of LITE opened at $868.07 on Thursday. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. The firm's fifty day simple moving average is $825.82 and its 200-day simple moving average is $551.93. The firm has a market capitalization of $67.54 billion, a price-to-earnings ratio of 160.75 and a beta of 1.53. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on LITE. Northland Securities set a $1,000.00 price target on shares of Lumentum in a research report on Monday, April 20th. Needham & Company LLC raised their price target on shares of Lumentum from $880.00 to $1,040.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. JPMorgan Chase & Co. raised 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. Finally, Bank of America raised their price objective on shares of Lumentum to $520.00 and gave the company a "neutral" rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $1,012.43.

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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