Castleark Management LLC Has $11.48 Million Stock Holdings in Lumentum Holdings Inc. $LITE

Castleark Management LLC cut its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 52.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 31,153 shares of the technology company’s stock after selling 34,670 shares during the quarter. Castleark Management LLC’s holdings in Lumentum were worth $11,483,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in Lumentum in the 4th quarter valued at $28,000. Triumph Capital Management bought a new position in shares of Lumentum in the 4th quarter valued at $30,000. Harbour Investments Inc. increased its stake in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after purchasing an additional 81 shares during the last quarter. Chesapeake Asset Management LLC bought a new position in shares of Lumentum in the 4th quarter valued at $37,000. Finally, BOCHK Asset Management Ltd bought a new position in shares of Lumentum in the 4th quarter valued at $37,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Susquehanna lifted their price target on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, April 20th. Citigroup lifted their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Citic Securities lifted their price target on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Morgan Stanley lifted their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Trading Up 3.6%

Shares of LITE stock opened at $921.56 on Friday. The firm has a market capitalization of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47. Lumentum Holdings Inc. has a twelve month low of $81.93 and a twelve month high of $1,085.68. 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’s fifty day simple moving average is $897.64 and its 200 day simple moving average is $629.72.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal 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 transaction of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Lumentum stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at $7,224,000. The trade was a 32.26% 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. In the last three months, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by corporate insiders.

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.