Castle Hook Partners LP Acquires 5,852 Shares of Lumentum Holdings Inc. $LITE

Castle Hook Partners LP grew its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 124.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,568 shares of the technology company’s stock after acquiring an additional 5,852 shares during the period. Castle Hook Partners LP’s holdings in Lumentum were worth $3,895,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after acquiring an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum in the fourth quarter worth approximately $28,000. Truvestments Capital LLC grew its position in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares in the last quarter. Triumph Capital Management bought a new stake in Lumentum in the fourth quarter worth approximately $30,000. Finally, Danske Bank A S bought a new stake in Lumentum in the third quarter worth approximately $33,000. 94.05% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Craig Hallum boosted their target price on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Barclays upped their target price on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, Citic Securities upped their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Buying and Selling

In related news, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a document filed 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, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 valued at $38,859,220 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Down 0.6%

Shares of Lumentum stock opened at $869.98 on Thursday. The stock has a market capitalization of $67.68 billion, a P/E ratio of 161.11 and a beta of 1.47. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a 50 day moving average price of $903.17 and a two-hundred day moving average price of $644.68. Lumentum Holdings Inc. has a 12-month low of $86.57 and a 12-month high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $810.21 million. During the same period in the prior year, the business earned $0.57 earnings per share. Lumentum’s revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Lumentum Company 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.