Renaissance Technologies LLC Acquires Shares of 202,838 Lumentum Holdings Inc. $LITE

Renaissance Technologies LLC acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 202,838 shares of the technology company’s stock, valued at approximately $142,546,000.

A number of other institutional investors have also made changes to their positions in LITE. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Lumentum during the 1st quarter worth $25,000. Abel Hall LLC increased its stake in Lumentum by 5.5% during the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after buying an additional 36 shares during the period. Checchi Capital Advisers LLC increased its stake in Lumentum by 5.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock worth $555,000 after buying an additional 38 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in Lumentum by 2.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after buying an additional 44 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Down 8.5%

LITE opened at $762.99 on Friday. The stock has a market capitalization of $59.36 billion, a PE ratio of 141.29 and a beta of 1.48. The firm’s fifty day moving average price is $844.69 and its 200 day moving average price is $725.88. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum Holdings Inc. has a 12-month low of $101.22 and a 12-month high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue was up 90.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, research analysts expect that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 2,487 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 $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares in the company, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were 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 represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

More Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Barclays recently upgraded Lumentum and cited expectations for continued earnings strength, keeping the photonics maker in focus ahead of its next earnings report.
• Positive Sentiment: Zacks highlighted Lumentum as one of three stocks worth buying after recent broker rating upgrades, reinforcing the bullish analyst backdrop.
• Positive Sentiment: Analysts now describe Lumentum as a “Moderate Buy,” reflecting broad Street confidence in the company’s outlook.
• Positive Sentiment: Recent coverage has tied Lumentum to AI and data-center spending themes, with investors expecting optical networking suppliers to benefit from ongoing infrastructure buildout.
• Neutral Sentiment: Investors are also watching Lumentum’s upcoming quarterly earnings preview, with results likely to be a key catalyst for the stock.
• Negative Sentiment: Short interest data showed 0 shares reported, so there is no meaningful bearish signal from the latest short-interest update.

Analyst Upgrades and Downgrades

LITE has been the subject of a number of analyst reports. TD Cowen decreased their price objective on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a research report on Monday, July 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research report on Friday, July 17th. Rosenblatt Securities boosted their price target on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Finally, Stifel Nicolaus raised their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Lumentum has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

About Lumentum

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.