1832 Asset Management L.P. Invests $4.24 Million in Lumentum Holdings Inc. $LITE

1832 Asset Management L.P. acquired a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 44,600 shares of the technology company’s stock, valued at approximately $4,240,000. 1832 Asset Management L.P. owned about 0.06% of Lumentum at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of LITE. Cetera Investment Advisers lifted its position in Lumentum by 91.2% during the first quarter. Cetera Investment Advisers now owns 14,681 shares of the technology company’s stock worth $915,000 after buying an additional 7,002 shares during the period. Natixis Advisors LLC acquired a new position in shares of Lumentum during the 1st quarter valued at about $2,398,000. PNC Financial Services Group Inc. lifted its holdings in shares of Lumentum by 75.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 5,220 shares of the technology company’s stock worth $325,000 after acquiring an additional 2,237 shares during the period. Vanguard Group Inc. boosted its position in shares of Lumentum by 0.6% in the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after acquiring an additional 47,811 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Lumentum by 6.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 33,822 shares of the technology company’s stock worth $2,108,000 after acquiring an additional 2,105 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analyst Upgrades and Downgrades

LITE has been the subject of several research analyst reports. Susquehanna upped their price target on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Barclays raised their price target on shares of Lumentum from $165.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, November 6th. UBS Group boosted their price objective on shares of Lumentum from $78.00 to $130.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 13th. Finally, Rosenblatt Securities increased their price objective on shares of Lumentum to $380.00 and gave the stock a “buy” rating in a research report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and an average price target of $215.00.

Insider Activity

In other Lumentum news, Director Pamela Fletcher sold 3,421 shares of the stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $273.53, for a total value of $935,746.13. Following the sale, the director directly owned 10,561 shares of the company’s stock, valued at $2,888,750.33. This trade represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Yuen Wupen sold 822 shares of the business’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total transaction of $212,865.12. Following the transaction, the insider directly owned 95,077 shares of the company’s stock, valued at $24,621,139.92. The trade was a 0.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,612 shares of company stock valued at $7,317,398 over the last quarter. 0.43% of the stock is owned by company insiders.

Lumentum Trading Up 1.1%

NASDAQ:LITE opened at $331.41 on Friday. The stock has a market cap of $23.50 billion, a price-to-earnings ratio of 222.42 and a beta of 1.53. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $344.00. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37. The business’s 50-day simple moving average is $218.98 and its 200 day simple moving average is $148.06.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. The company had revenue of $533.80 million for the quarter, compared to analyst estimates of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.Lumentum’s quarterly revenue was up 58.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.