Mitsubishi UFJ Asset Management Co. Ltd. Buys New Shares in Lumentum Holdings Inc. $LITE

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 197,428 shares of the technology company’s stock, valued at approximately $169,405,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of LITE. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum during the first quarter valued at about $25,000. Sachetta LLC lifted 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 buying an additional 19 shares during the period. Truvestments Capital LLC grew its position in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares in the last quarter. Triumph Capital Management acquired a new stake in Lumentum during the fourth quarter worth about $30,000. Finally, Danske Bank A S bought a new position in Lumentum during the third quarter valued at about $33,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Lumentum

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the sale, the director directly owned 8,400 shares in the company, valued at $7,224,000. This represents a 32.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director directly owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,370 shares of company stock worth $9,156,532 over the last three months. 0.43% of the stock is owned by company insiders.

Analysts Set New Price Targets

LITE has been the subject of several recent research reports. Stifel Nicolaus upped their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. Bank of America cut their target price on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a research note on Wednesday, August 12th. Weiss Ratings cut Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, August 5th. Finally, BNP Paribas Exane raised their target price on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $1,044.67.

Lumentum Trading Up 4.6%

Shares of LITE stock opened at $968.90 on Tuesday. Lumentum Holdings Inc. has a 12-month low of $111.20 and a 12-month high of $1,085.68. The company has a market capitalization of $75.38 billion, a P/E ratio of -11.79 and a beta of 1.50. The firm has a 50-day moving average price of $810.55 and a 200 day moving average price of $779.66. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Research analysts forecast that Lumentum Holdings Inc. will post 16.97 earnings per share for the current fiscal year.

Lumentum Company Profile

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.