Zweig DiMenna Associates LLC Buys Shares of 110,000 Lumentum Holdings Inc. $LITE

Zweig DiMenna Associates LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 110,000 shares of the technology company’s stock, valued at approximately $10,457,000. Lumentum accounts for approximately 1.0% of Zweig DiMenna Associates LLC’s investment portfolio, making the stock its 28th largest holding. Zweig DiMenna Associates LLC owned 0.16% of Lumentum as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Lumentum by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock valued at $463,198,000 after acquiring an additional 47,811 shares during the period. Leeward Investments LLC MA raised its position in shares of Lumentum by 14.8% in the 2nd quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock valued at $49,092,000 after acquiring an additional 66,541 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Lumentum in the 1st quarter valued at approximately $260,000. FORA Capital LLC acquired a new stake in shares of Lumentum in the 1st quarter valued at approximately $642,000. Finally, Principal Financial Group Inc. raised its position in shares of Lumentum by 1.1% in the 1st quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company’s stock valued at $9,922,000 after acquiring an additional 1,660 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LITE. Needham & Company LLC reiterated a “buy” rating and issued a $145.00 price target (up from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. KGI Securities began coverage on shares of Lumentum in a research report on Monday, August 18th. They issued an “outperform” rating on the stock. Susquehanna increased their price target on shares of Lumentum from $140.00 to $190.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Stifel Nicolaus increased their price target on shares of Lumentum from $100.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, August 13th. Finally, Citigroup initiated coverage on shares of Lumentum in a research report on Friday, August 29th. They issued a “buy” rating and a $165.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Insider Buying and Selling at Lumentum

In other news, SVP Jae Kim sold 4,507 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the transaction, the senior vice president directly owned 33,465 shares of the company’s stock, valued at $3,911,389.20. This trade represents a 11.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julia Suzanne Johnson sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $119.06, for a total transaction of $148,825.00. Following the transaction, the director directly owned 22,037 shares of the company’s stock, valued at $2,623,725.22. This represents a 5.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 18,439 shares of company stock valued at $2,206,997 over the last quarter. Insiders own 0.43% of the company’s stock.

Lumentum Price Performance

NASDAQ LITE opened at $201.55 on Friday. The business has a 50 day simple moving average of $160.64 and a 200 day simple moving average of $112.94. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $214.50. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of 876.30 and a beta of 1.42.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The business had revenue of $480.70 million during the quarter, compared to analysts’ expectations of $465.27 million. During the same period in the prior year, the business earned $0.06 EPS. Lumentum’s revenue for the quarter was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.