Nomura Asset Management Co. Ltd. increased its stake in Lumentum Holdings Inc. (NASDAQ:LITE – Free Report) by 45.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 369,804 shares of the technology company’s stock after purchasing an additional 114,714 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Lumentum were worth $136,306,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $474,495,000. Zweig DiMenna Associates LLC boosted its holdings in shares of Lumentum by 0.5% in the 4th quarter. Zweig DiMenna Associates LLC now owns 131,567 shares of the technology company’s stock valued at $48,494,000 after buying an additional 617 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $648,000. Andar Capital Management HK Ltd acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $4,325,000. Finally, Savant Capital LLC acquired a new stake in shares of Lumentum in the 4th quarter valued at approximately $245,000. Institutional investors and hedge funds own 94.05% of the company’s stock.
Analyst Upgrades and Downgrades
LITE has been the subject of several recent analyst reports. Mizuho set a $1,100.00 price objective on Lumentum in a report on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Stifel Nicolaus raised 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. Morgan Stanley raised their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Finally, BNP Paribas Exane raised their price target on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.
Insider Activity
In related news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the transaction, the insider directly owned 81,488 shares in the company, valued at approximately $77,735,477.60. This represents a 3.79% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 35,844 shares of company stock valued at $34,003,107. 0.43% of the stock is currently owned by company insiders.
Lumentum Stock Down 0.7%
Shares of NASDAQ LITE opened at $854.96 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. Lumentum Holdings Inc. has a 52 week low of $71.04 and a 52 week high of $1,085.68. The stock has a market capitalization of $66.52 billion, a P/E ratio of 158.33 and a beta of 1.53. The stock’s fifty day moving average is $862.40 and its 200 day moving average is $583.63.
Lumentum (NASDAQ:LITE – Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.
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.
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