Lumentum Holdings Inc. $LITE Shares Bought by Castle Hook Partners LP

Castle Hook Partners LP boosted its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 124.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,568 shares of the technology company’s stock after buying an additional 5,852 shares during the period. Castle Hook Partners LP’s holdings in Lumentum were worth $3,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of LITE. Advisors Asset Management Inc. raised its holdings in Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after buying an additional 254 shares during the period. NewEdge Advisors LLC raised its holdings in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after buying an additional 6,275 shares during the period. Empowered Funds LLC raised its holdings in Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares during the period. Hsbc Holdings PLC acquired a new stake in Lumentum during the 2nd quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Lumentum during the 2nd quarter worth about $1,712,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Northland Securities boosted their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday, June 3rd. Needham & Company LLC restated a “buy” rating and set a $1,040.00 price objective on shares of Lumentum in a report on Tuesday, June 9th. Citic Securities boosted their price objective on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Finally, BNP Paribas Exane boosted their price objective on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Activity at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company’s stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Lumentum Trading Down 0.6%

NASDAQ:LITE opened at $869.98 on Thursday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a fifty-two week low of $86.57 and a fifty-two week high of $1,085.68. The stock’s 50-day moving average is $903.17 and its two-hundred day moving average is $644.68. The stock has a market cap of $67.68 billion, a PE ratio of 161.11 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the previous year, the business posted $0.57 EPS. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Lumentum Profile

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.