State of Michigan Retirement System Has $13.14 Million Holdings in Lumentum Holdings Inc. $LITE

State of Michigan Retirement System boosted its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 11.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,700 shares of the technology company’s stock after acquiring an additional 1,972 shares during the period. State of Michigan Retirement System’s holdings in Lumentum were worth $13,142,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. increased its stake in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after purchasing an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd bought a new position in Lumentum in the fourth quarter valued at approximately $4,325,000. Whittier Trust Co. boosted its holdings in shares of Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after buying an additional 73,706 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Lumentum in the fourth quarter valued at approximately $6,755,000. Finally, Maxi Investments CY Ltd bought a new stake in shares of Lumentum during the fourth quarter worth $2,212,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LITE has been the topic of a number of research analyst reports. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. JPMorgan Chase & Co. increased their target price on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Barclays increased their target price on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Finally, UBS Group upped their price objective on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Stock Performance

Shares of LITE stock opened at $752.00 on Thursday. Lumentum Holdings Inc. has a 12 month low of $95.18 and a 12 month high of $1,085.68. The company’s fifty day simple moving average is $872.19 and its 200-day simple moving average is $708.38. The firm has a market cap of $58.51 billion, a PE ratio of 139.26 and a beta of 1.48. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts expect that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at $7,224,000. This trade represents a 32.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by insiders.

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.