Avala Global LP Reduces Position in Lumentum Holdings Inc. $LITE

Avala Global LP trimmed its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 41.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 227,837 shares of the technology company’s stock after selling 159,000 shares during the period. Lumentum comprises 4.0% of Avala Global LP’s portfolio, making the stock its 12th biggest holding. Avala Global LP’s holdings in Lumentum were worth $83,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of LITE. Arrowstreet Capital Limited Partnership boosted its position in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Norges Bank bought a new position in shares of Lumentum in the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the fourth quarter worth about $432,062,000. Situational Awareness LP raised its stake in shares of 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 buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after buying an additional 871,249 shares during the period. 94.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Lumentum

In related news, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. The trade was a 32.26% 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last quarter. 0.43% of the stock is owned by insiders.

Lumentum Price Performance

Shares of Lumentum stock opened at $869.98 on Thursday. The stock has a market cap of $67.68 billion, a price-to-earnings ratio of 161.11 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a 50 day moving average price of $903.17 and a 200-day moving average price of $644.68. Lumentum Holdings Inc. has a one year low of $86.57 and a one year high of $1,085.68.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on LITE shares. TD Cowen lifted their target price on Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research note on Wednesday, May 6th. Rosenblatt Securities lifted their target price on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Citic Securities lifted their target price on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. UBS Group lifted 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. Finally, Raymond James Financial reissued an “outperform” rating and set a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lumentum has an average rating of “Moderate Buy” and a consensus price target 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.