Zweig DiMenna Associates LLC Trims Holdings in Lumentum Holdings Inc. $LITE

Key Points

• Zweig DiMenna Associates LLC cut its Lumentum stake by 69% in the first quarter, selling 90,817 shares and leaving it with 40,750 shares worth about $28.6 million.
• Wall Street remains broadly bullish on Lumentum, with 14 Buy ratings, 7 Hold ratings, and a consensus price target of $1,012.67 despite some mixed target revisions.
• Recent results were strong: Lumentum reported $2.37 EPS, beating estimates, and revenue surged 90.1% year over year, while the company also guided Q4 2026 EPS to $2.85-$3.05.

Zweig DiMenna Associates LLC lowered its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 69.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,750 shares of the technology company's stock after selling 90,817 shares during the quarter. Lumentum accounts for about 4.0% of Zweig DiMenna Associates LLC's investment portfolio, making the stock its 4th biggest holding. Zweig DiMenna Associates LLC owned about 0.06% of Lumentum worth $28,637,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after acquiring an additional 114,714 shares during the period. Andar Capital Management HK Ltd acquired a new stake in shares of Lumentum during the fourth quarter worth about $4,325,000. Whittier Trust Co. raised its position in shares of Lumentum by 21,806.5% during the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock worth $57,183,000 after purchasing an additional 73,706 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Lumentum during the 4th quarter valued at about $6,755,000. Finally, Maxi Investments CY Ltd bought a new position in shares of Lumentum during the 4th quarter valued at about $2,212,000. Institutional investors own 94.05% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on LITE. Citigroup boosted their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a "buy" rating in a research report on Tuesday, April 21st. Rosenblatt Securities increased their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a "buy" rating in a report on Wednesday, May 6th. TD Cowen decreased their price objective on Lumentum from $995.00 to $800.00 and set a "hold" rating for the company in a report on Monday. Loop Capital lifted their target price on Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, May 5th. Finally, UBS Group boosted their target price on Lumentum from $455.00 to $960.00 and gave the company a "neutral" rating in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $1,012.67.

Lumentum Price Performance

Shares of LITE opened at $814.80 on Wednesday. The company's fifty day simple moving average is $876.03 and its 200 day simple moving average is $705.88. The company has a market cap of $63.39 billion, a price-to-earnings ratio of 150.89 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. Lumentum Holdings Inc. has a 1-year low of $94.32 and a 1-year high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data 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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. During the same period last year, the firm posted $0.57 earnings per share. The business'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. On average, research analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm's stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares of the company's stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction on 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 transaction, the chief financial officer directly owned 60,951 shares of the company's stock, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. 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 have sold 41,260 shares of company stock worth $38,859,220 in the last quarter. Company insiders own 0.43% of the company's stock.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: UBS said rising data-center investment should support demand for companies like Lumentum, reinforcing the AI-optics growth narrative. ANET, CLS, EXTR, LITE stock in focus — UBS sees data center investments to drive demand, but supply constraints persist
• Positive Sentiment: Commentary highlighting Lumentum as an optical company trading like a semiconductor suggests the market is valuing it more like a high-growth AI infrastructure beneficiary. Lumentum: An Optical Company Trading Like A Semiconductor
• Positive Sentiment: Another article framed the recent AI-optical selloff as a buying opportunity, which may be encouraging dip-buying in LITE and peers. The AI Optical Selloff Is A Gift - 3 Stocks I'm Buying
• Positive Sentiment: Reports on Lumentum’s planned fiscal Q4 and full-year 2026 results keep attention on upcoming catalysts, which can support trading interest. Lumentum Announces Reporting Date for Fourth Quarter and Fiscal Year 2026 Results
• Positive Sentiment: Coverage on AI-driven optical networking demand and co-packaged optics adoption points to a favorable longer-term growth story for Lumentum.

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.

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