WT Asset Management Ltd acquired a new stake in Lumentum Holdings Inc. The firm purchased 576,519 shares. This stake is valued at approximately $494.7 million, according to a recent 13F filing.
Lumentum now ranks as the fifth-largest position in WT Asset Management's portfolio. It constitutes 9.8% of the asset manager's total holdings. The stake represents about 0.74% of Lumentum's ownership.
This disclosure follows Lumentum's recent strong performance. The company reported quarterly earnings per share of $3.23. This figure surpassed analyst estimates.
Lumentum posted revenues of $1.01 billion. This marks a 109.3% increase year-over-year. The company also provided upbeat guidance for the first quarter of fiscal year 2027.
Analysts issued a "Moderate Buy" consensus rating for the stock.