Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Lumentum Holdings Inc. $LITE

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 197,428 shares of the technology company’s stock, valued at approximately $169,405,000. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.25% of Lumentum at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. OneDigital Investment Advisors LLC acquired a new position in Lumentum in the 2nd quarter valued at approximately $2,371,000. Plato Investment Management Ltd acquired a new stake in shares of Lumentum during the 2nd quarter valued at $954,000. Roman Butler Fullerton & Co. purchased a new position in shares of Lumentum during the 2nd quarter valued at $701,000. Simplicity Wealth LLC purchased a new position in shares of Lumentum during the 2nd quarter valued at $242,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Lumentum in the second quarter worth $232,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Lumentum Price Performance

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

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. Lumentum’s revenue was up 109.3% compared to the same quarter last year. During the same period last year, the business posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 16.97 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on LITE shares. Citigroup reiterated a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Morgan Stanley boosted their target price on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Weiss Ratings downgraded Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. Barclays raised their price target on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 6th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $1,300.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,044.67.

Insider Transactions at Lumentum

In other news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction dated 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 sale, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director owned 6,984 shares in the company, valued at $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. 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. Insiders have sold 10,370 shares of company stock valued at $9,156,532 over the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Lumentum 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.