Castleark Management LLC Cuts Position in Lumentum Holdings Inc. $LITE

Castleark Management LLC decreased its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 97.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 770 shares of the technology company’s stock after selling 30,383 shares during the period. Castleark Management LLC’s holdings in Lumentum were worth $541,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC purchased a new stake in shares of Lumentum during the 1st quarter worth approximately $25,000. Sachetta LLC grew its holdings in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the period. V Square Quantitative Management LLC purchased a new position in Lumentum in the 4th quarter valued at approximately $28,000. Truvestments Capital LLC increased its stake in Lumentum by 300.0% in 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 in the last quarter. Finally, Triumph Capital Management acquired a new position in Lumentum during the fourth quarter worth $30,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Trading Down 6.7%

Shares of LITE opened at $711.96 on Tuesday. Lumentum Holdings Inc. has a fifty-two week low of $101.61 and a fifty-two week high of $1,085.68. The company has a market capitalization of $55.39 billion, a PE ratio of 131.84 and a beta of 1.48. The stock has a fifty day moving average of $841.23 and a two-hundred day moving average of $730.69. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million for 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 business’s revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Insider Activity

In other Lumentum news, Director Brian Lillie sold 11,951 shares of Lumentum stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the sale, 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 filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. This represents a 32.26% decrease in their position. 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 a total of 41,260 shares of company stock valued at $38,859,220 in the last three months. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on LITE shares. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 target price on shares of Lumentum in a research report on Tuesday, June 9th. Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Friday, July 17th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and an average target price of $1,012.67.

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.