Lumentum Holdings Inc. $LITE Stake Reduced by Atreides Management LP

Atreides Management LP trimmed its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 41.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 382,805 shares of the technology company’s stock after selling 274,155 shares during the period. Lumentum makes up about 1.7% of Atreides Management LP’s holdings, making the stock its 10th biggest holding. Atreides Management LP’s holdings in Lumentum were worth $141,098,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in Lumentum during the 4th quarter valued at about $28,000. Truvestments Capital LLC grew its position in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares during the last quarter. Triumph Capital Management purchased a new stake in Lumentum during the 4th quarter valued at about $30,000. Finally, Danske Bank A S purchased a new stake in Lumentum during the 3rd quarter valued at about $33,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LITE has been the topic of several recent analyst reports. Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Citigroup increased their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, April 21st. UBS Group increased their price objective on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Rosenblatt Securities increased their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, BNP Paribas Exane raised their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. 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 stock. According to MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Price Performance

NASDAQ LITE opened at $869.98 on Thursday. Lumentum Holdings Inc. has a 12 month low of $86.57 and a 12 month high of $1,085.68. 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’s 50 day moving average is $903.17 and its two-hundred day moving average is $644.68. 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) last released 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. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter last year, the business earned $0.57 EPS. The firm’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insider Activity at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president owned 32,333 shares in the company, valued at approximately $30,844,065.35. The trade was a 4.21% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 90 days. Insiders own 0.43% of the company’s stock.

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.