JAT Capital Mgmt LP Makes New Investment in Lumentum Holdings Inc. $LITE

JAT Capital Mgmt LP acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, HoldingsChannel reports. The firm acquired 3,000 shares of the technology company’s stock, valued at approximately $2,108,000. Lumentum accounts for about 3.6% of JAT Capital Mgmt LP’s holdings, making the stock its 6th biggest position.

Other large investors also recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum during the first quarter valued at approximately $25,000. Sachetta LLC grew its holdings in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Lumentum in the 4th quarter valued at $28,000. Truvestments Capital LLC lifted its stake in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Finally, Triumph Capital Management bought a new position in Lumentum during the 4th quarter valued at $30,000. Institutional investors own 94.05% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus lifted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, May 5th. TD Cowen lowered their target price on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Susquehanna upped their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th. Finally, Rosenblatt Securities increased their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,012.67.

Lumentum Price Performance

Lumentum stock opened at $711.96 on Tuesday. Lumentum Holdings Inc. has a 12 month low of $101.61 and a 12 month high of $1,085.68. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The business’s 50 day simple moving average is $841.23 and its 200 day simple moving average is $730.69. The company has a market cap of $55.39 billion, a price-to-earnings ratio of 131.84 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period last year, the business posted $0.57 earnings per share. 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. Sell-side analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Insider Activity

In other news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on 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 completion of the transaction, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. This represents a 46.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 value of $3,036,422.85. Following the completion of the sale, the insider directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by company insiders.

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.