Arrowstreet Capital Limited Partnership Has $683.66 Million Position in Lumentum Holdings Inc. $LITE

Arrowstreet Capital Limited Partnership boosted its holdings in Lumentum Holdings Inc. (NASDAQ:LITE) by 18.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,854,801 shares of the technology company’s stock after buying an additional 291,591 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Lumentum were worth $683,661,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Lumentum by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after buying an additional 41,975 shares during the last quarter. Geode Capital Management LLC raised its holdings in Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after buying an additional 123,265 shares during the last quarter. Situational Awareness LP raised its holdings in Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after buying an additional 880,800 shares during the last quarter. Norges Bank bought a new position in Lumentum in the 4th quarter valued at approximately $474,495,000. Finally, Alliancebernstein L.P. raised its holdings in Lumentum by 4.4% in the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company’s stock valued at $176,560,000 after buying an additional 45,953 shares during the last quarter. Institutional investors own 94.05% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the sale, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction on Tuesday, June 2nd. The shares were 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 directly owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. The trade was a 16.86% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 in the last quarter. Insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

NASDAQ:LITE opened at $921.56 on Friday. The company has a fifty day moving average of $897.64 and a 200-day moving average of $629.72. The firm has a market capitalization of $71.70 billion, a P/E ratio of 170.66 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. Lumentum Holdings Inc. has a twelve month low of $81.93 and a twelve month high of $1,085.68.

Lumentum (NASDAQ:LITE) last released 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. The company had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts anticipate that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on LITE shares. Stifel Nicolaus raised their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Susquehanna raised their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a report on Monday, April 20th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Finally, TD Cowen raised their price target on shares of Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.

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.