Resona Asset Management Co. Ltd. Takes Position in Lumentum Holdings Inc. $LITE

Resona Asset Management Co. Ltd. acquired a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,480 shares of the technology company’s stock, valued at approximately $14,901,000.

A number of other hedge funds also recently bought and sold shares of the stock. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in Lumentum during the first quarter worth $319,000. Capstone Capital Management Ltd bought a new position in shares of Lumentum in the 1st quarter worth $3,016,000. Frank Rimerman Advisors LLC bought a new position in shares of Lumentum in the 1st quarter worth $498,000. Jackson Thornton Wealth Management LLC purchased a new stake in shares of Lumentum during the 1st quarter worth $236,000. Finally, R Squared Ltd bought a new stake in Lumentum during the first quarter valued at about $703,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Performance

Shares of NASDAQ:LITE traded up $16.24 on Friday, hitting $802.01. 3,668,382 shares of the company were exchanged, compared to its average volume of 4,709,263. The firm has a market capitalization of $62.40 billion, a P/E ratio of 148.52 and a beta of 1.48. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. Lumentum Holdings Inc. has a 1-year low of $90.98 and a 1-year high of $1,085.68. The stock’s 50 day moving average price is $882.31 and its 200 day moving average price is $698.09.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling at Lumentum

In other news, Director Ian Small sold 4,954 shares of the 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 transaction, the director directly owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Wajid Ali sold 2,487 shares of the firm’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the transaction, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Citic Securities boosted their price objective on shares of Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Craig Hallum lifted their price target on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Stifel Nicolaus upped their price target on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Finally, Zacks Research cut Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

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.