Zweig DiMenna Associates LLC Invests $10.46 Million in Lumentum Holdings Inc. $LITE

Zweig DiMenna Associates LLC bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 110,000 shares of the technology company’s stock, valued at approximately $10,457,000. Lumentum makes up 1.0% of Zweig DiMenna Associates LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Versor Investments LP bought a new position in shares of Lumentum in the second quarter valued at $239,000. Strs Ohio grew its stake in shares of Lumentum by 432.7% in the second quarter. Strs Ohio now owns 69,964 shares of the technology company’s stock valued at $6,651,000 after buying an additional 56,830 shares in the last quarter. Retirement Systems of Alabama grew its stake in shares of Lumentum by 0.7% in the second quarter. Retirement Systems of Alabama now owns 84,822 shares of the technology company’s stock valued at $8,063,000 after buying an additional 599 shares in the last quarter. Hantz Financial Services Inc. grew its stake in shares of Lumentum by 224.4% in the second quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock valued at $67,000 after buying an additional 487 shares in the last quarter. Finally, Emerald Advisers LLC grew its stake in shares of Lumentum by 5.2% in the second quarter. Emerald Advisers LLC now owns 446,102 shares of the technology company’s stock valued at $42,406,000 after buying an additional 22,012 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Transactions at Lumentum

In other news, Director Julia Suzanne Johnson sold 1,250 shares of Lumentum stock in a transaction on Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the sale, the director owned 22,037 shares of the company’s stock, valued at approximately $2,623,725.22. This trade represents a 5.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Yuen Wupen sold 3,281 shares of Lumentum stock in a transaction on Wednesday, August 27th. The stock was sold at an average price of $124.86, for a total value of $409,665.66. Following the sale, the insider directly owned 101,273 shares of the company’s stock, valued at $12,644,946.78. This represents a 3.14% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 18,439 shares of company stock worth $2,206,997 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Lumentum Stock Up 0.7%

LITE opened at $201.55 on Friday. Lumentum Holdings Inc. has a fifty-two week low of $45.65 and a fifty-two week high of $214.50. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. The company has a market capitalization of $14.29 billion, a P/E ratio of 876.30 and a beta of 1.42. The stock has a fifty day moving average of $160.64 and a 200-day moving average of $112.94.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The company had revenue of $480.70 million during the quarter, compared to the consensus estimate of $465.27 million. During the same quarter last year, the firm earned $0.06 earnings per share. The company’s revenue was up 55.9% on a year-over-year basis. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on LITE. Susquehanna raised their target price on shares of Lumentum from $140.00 to $190.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. raised their target price on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Wall Street Zen cut shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price (up from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Finally, Raymond James Financial downgraded Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target for the company. in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

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.