Lumentum Holdings Inc. $LITE is Zweig DiMenna Associates LLC’s 7th Largest Position

Zweig DiMenna Associates LLC raised its position in Lumentum Holdings Inc. (NASDAQ:LITE) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 131,567 shares of the technology company’s stock after buying an additional 617 shares during the period. Lumentum accounts for 3.0% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 7th biggest holding. Zweig DiMenna Associates LLC’s holdings in Lumentum were worth $48,494,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in LITE. Advisors Asset Management Inc. increased its holdings in Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after buying an additional 254 shares during the last quarter. NewEdge Advisors LLC increased its holdings in Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after buying an additional 6,275 shares during the last quarter. Empowered Funds LLC increased its holdings in Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Lumentum during the second quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Lumentum during the second quarter worth about $1,712,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $854.96 on Friday. 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 firm has a market capitalization of $66.52 billion, a PE ratio of 158.33 and a beta of 1.53. Lumentum Holdings Inc. has a twelve month low of $71.04 and a twelve month high of $1,085.68. The company has a 50-day moving average price of $862.40 and a two-hundred day moving average price of $583.63.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm 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%. The company’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

Insider Activity

In other news, Director Brian Lillie sold 11,951 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total value of $11,731,579.64. Following the completion of the transaction, the director directly owned 13,959 shares in the company, valued at approximately $13,702,712.76. This trade represents a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 35,844 shares of company stock valued at $34,003,107. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LITE shares. Susquehanna raised their price objective on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a report on Monday, April 20th. Barclays raised their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Rosenblatt Securities raised their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Finally, Needham & Company LLC raised their price objective on shares of Lumentum from $880.00 to $1,040.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,012.43.

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.