5 New Stock Picks of Suraj Parkash Chopra’s Force Hill Capital Management

In this article, we discuss 5 new stock picks of Suraj Parkash Chopra’s Force Hill Capital Management. If you want our detailed analysis of these stocks, go directly to 10 New Stock Picks of Suraj Parkash Chopra’s Force Hill Capital Management. 

5. Lumentum Holdings Inc. (NASDAQ:LITE)

Force Hill Capital Management’s Stake Value: $15,580,000

Percentage of Force Hill Capital Management’s 13F Portfolio: 3.84%

Number of Hedge Fund Holders: 33

Lumentum Holdings Inc. (NASDAQ:LITE), an American telecommunications company, is one of the newest arrivals in Suraj Chopra’s third quarter portfolio, with his hedge fund acquiring a $15.5 million position in the company. The stock accounts for 3.84% of Force Hill Capital Management’s Q3 investments. 

Lumentum Holdings Inc. (NASDAQ:LITE) reported earnings for Q3 on November 4, posting an EPS of $1.79, exceeding estimates by $0.24. The quarterly revenue totaled $448.40 million, surpassing estimated revenue by $8.88 million. 

Craig-Hallum analyst Richard Shannon raised the price target on Lumentum Holdings Inc. (NASDAQ:LITE) to $130 from $110 and kept a Buy rating on the shares on January 4. The analyst observed that Lumentum Holdings Inc. (NASDAQ:LITE) has gained over $20/share since early December and is back to levels it achieved since January 2021, owing to a stronger telecom environment in 2022, coupled with a better supply situation for ROADMs. 

ValueAct Capital is one of the largest Lumentum Holdings Inc. (NASDAQ:LITE) stakeholders from the third quarter, holding 1 million shares worth $83.5 million. Overall, 33 hedge funds in the Q3 database of Insider Monkey reported owning stakes totaling $408.7 million in Lumentum Holdings Inc. (NASDAQ:LITE).