Lumentum Holdings (LITE) in Fidelity Small Cap Value Fund Q3 2024

Optimism in Optical Components Drives Performance

Apr 14, 2025

Summary

Large out-of-index position in Lumentum Holdings added value.
Investor optimism about business cycle recovery boosted shares.
Fund increased its holding, seeing further upside potential.

Lumentum Holdings (LITE, Financial) was highlighted in the Fidelity Small Cap Value Fund's Q3 2024 review as a significant contributor to the fund's performance. Managed by Gabriela Kelleher, the fund capitalized on investor optimism surrounding Lumentum's recovery from a business cycle trough, which drove the stock's performance. The fund increased its position, anticipating further upside.

"Also adding value was Lumentum Holdings (+25%), a large out-of-index position. Shares of this optical-components manufacturer rode investor optimism about the company's prospects following a trough of its business cycle. Again, we saw upside here and added to the fund's holding." — Fidelity Small Cap Value Fund, Q3 2024 Fund Letter

Read full letter at gurufocus fidelity small cap value fund q3 2024 review 2024 Q3 page.

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