CenterBook Partners LP Sells 20,701 Shares of Lumentum Holdings Inc. $LITE

CenterBook Partners LP decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 82.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,451 shares of the technology company’s stock after selling 20,701 shares during the period. CenterBook Partners LP’s holdings in Lumentum were worth $4,323,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Jupiter Topco LLC acquired a new position in shares of Lumentum during the second quarter valued at about $1,621,396,000. Amundi increased its position in shares of Lumentum by 188.7% during the second quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after acquiring an additional 430,355 shares in the last quarter. WT Asset Management Ltd bought a new stake in shares of Lumentum during the second quarter worth about $494,688,000. Janus Henderson Group PLC raised its holdings in shares of Lumentum by 163.2% in the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock worth $398,590,000 after acquiring an additional 351,676 shares during the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Lumentum in the 2nd quarter worth about $376,539,000. 94.05% of the stock is owned by institutional investors.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Some commentary sees Lumentum as potentially undervalued after Marvell agreed to acquire it, arguing the deal highlights demand for optical interconnects—a potential bottleneck in AI data centers. Lumentum’s shares also rose alongside a broader recovery in optical stocks. Article: Lumentum Holdings Could Be 90% Undervalued Following The Marvell Deal Article: Optical stocks rally
• Neutral Sentiment: The proposed all-stock Marvell deal values Lumentum at about $115 billion, with Lumentum shareholders set to receive 4.5 Marvell shares per share. That is not a fixed cash offer: its implied value will move with Marvell’s stock. The transaction is expected to take time to close and remains subject to regulatory approval. Article: Marvell Agreed to Pay $1,132 a Share for Lumentum
• Positive Sentiment: A bullish technical view says Lumentum is oversold after a steep decline, while analysts’ earnings-estimate increases could support a recovery. Article: Lumentum is Poised for a Turnaround
• Negative Sentiment: Recent pressure reflects a broader sell-off in AI and optical shares, alongside analyst downgrades and lower price expectations. The sharp recent declines suggest investors remain cautious despite the proposed acquisition and the latest rebound. Article: Lumentum Shares Down After Analyst Downgrade Article: AI optical stocks slide

Analysts Set New Price Targets

Several brokerages recently weighed in on LITE. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 12th. Wolfe Research reissued an “outperform” rating on shares of Lumentum in a report on Friday, August 21st. Jefferies Financial Group boosted their price objective on Lumentum from $1,200.00 to $1,250.00 and gave the stock a “buy” rating in a report on Tuesday, October 20th. Evercore started coverage on Lumentum in a report on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 target price on the stock. Finally, Stonex Financial raised Lumentum to a “strong-buy” rating in a research report on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $1,081.61.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 307 shares of Lumentum stock in a transaction that occurred on Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total transaction of $290,115.00. Following the transaction, the insider owned 108,320 shares of the company’s stock, valued at $102,362,400. This trade represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of Lumentum stock in a transaction that occurred on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. This represents a 24.64% 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. In the last quarter, insiders sold 94,496 shares of company stock valued at $85,978,498. Company insiders own 0.28% of the company’s stock.

Lumentum Stock Performance

Shares of LITE stock opened at $538.59 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.40. The firm has a 50-day moving average of $894.13 and a 200-day moving average of $801.60. Lumentum Holdings Inc. has a one year low of $215.35 and a one year high of $1,143.00. The company has a market cap of $48.85 billion, a P/E ratio of -6.84 and a beta of 1.64.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, topping the consensus estimate of $4.22 by $0.35. Lumentum had a negative net margin of 175.82% and a positive return on equity of 28.85%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same period in the previous year, the company earned $1.10 earnings per share. The firm’s revenue for the quarter was up 136.5% compared to the same quarter last year. Equities research analysts forecast that Lumentum Holdings Inc. will post 19.93 EPS for the current fiscal year.

About Lumentum

Lumentum Holdings Inc develops and manufactures optical and photonic products used in communications networks and industrial applications. Its offerings include optical components, modules and lasers that help transmit and process data across telecommunications and data center networks.

The company also supplies lasers and related technologies for industrial uses, including precision manufacturing and semiconductor production. Its products serve customers in markets around the world.

Lumentum became an independent public company in 2015 through a spin-off from JDSU, now Viavi Solutions.