Capelight Capital Asset Management LP boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 100.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,000 shares of the technology company’s stock after purchasing an additional 5,000 shares during the period. Lumentum comprises approximately 5.0% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 6th biggest holding. Capelight Capital Asset Management LP’s holdings in Lumentum were worth $7,028,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LITE. Sierra Summit Advisors LLC acquired a new stake in Lumentum during the first quarter worth about $17,953,000. Private Advisor Group LLC increased its holdings in Lumentum by 55.1% in the 1st quarter. Private Advisor Group LLC now owns 7,186 shares of the technology company’s stock worth $5,050,000 after acquiring an additional 2,553 shares in the last quarter. Leonteq Securities AG raised its position in shares of Lumentum by 955.9% during the 1st quarter. Leonteq Securities AG now owns 2,756 shares of the technology company’s stock worth $1,937,000 after purchasing an additional 2,495 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in shares of Lumentum during the first quarter valued at approximately $13,142,000. Finally, Patten Group Inc. acquired a new position in Lumentum in the 1st quarter valued at $579,000. 94.05% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Lumentum
In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director owned 6,984 shares in the company, valued at $6,984,558.72. This represents a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, CFO Wajid Ali sold 2,487 shares of the business’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold 41,260 shares of company stock worth $38,859,220 in the last ninety days. Company insiders own 0.43% of the company’s stock.
Analysts Set New Price Targets
Get Our Latest Stock Analysis on Lumentum
Lumentum Trading Down 9.1%
NASDAQ:LITE opened at $728.32 on Friday. The company has a market capitalization of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. Lumentum Holdings Inc. has a 52-week low of $88.93 and a 52-week high of $1,085.68. The stock’s 50 day moving average price is $895.46 and its 200 day moving average price is $683.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.
Lumentum (NASDAQ:LITE – Get Free Report) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The company 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 firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.
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.
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