Daiichi Life Insurance Co. Ltd. Takes Position in Lumentum Holdings Inc. $LITE

Daiichi Life Insurance Co. Ltd. bought a new position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,992 shares of the technology company's stock, valued at approximately $8,574,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LITE. Nomura Asset Management Co. Ltd. lifted its stake in shares of Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock valued at $136,306,000 after purchasing an additional 114,714 shares during the period. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Lumentum during the first quarter worth $2,046,000. Styrax Capital LP grew its position in Lumentum by 3.6% during the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock valued at $98,386,000 after buying an additional 4,837 shares during the period. Whittier Trust Co. grew its position in Lumentum by 21,806.5% during 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. Finally, Andar Capital Management HK Ltd purchased a new position in Lumentum in the fourth quarter valued at $4,325,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Performance

NASDAQ:LITE opened at $866.71 on Friday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The company has a fifty day moving average of $809.76 and a two-hundred day moving average of $790.21. The stock has a market capitalization of $77.74 billion, a PE ratio of -10.54 and a beta of 1.50. Lumentum Holdings Inc. has a fifty-two week low of $115.89 and a fifty-two week high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. The company's revenue for the quarter was up 109.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Lumentum

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of the firm's stock in a transaction dated Friday, May 29th. The shares were 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 of the company's stock, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 1,500 shares of Lumentum stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the completion of the sale, the insider owned 100,434 shares in the company, valued at approximately $83,141,273.88. The trade was a 1.47% 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. Over the last 90 days, insiders sold 16,352 shares of company stock valued at $14,315,562. 0.43% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on LITE shares. Citigroup reiterated a "buy" rating on shares of Lumentum in a research report on Wednesday, August 12th. TD Cowen raised their target price on Lumentum from $800.00 to $820.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Loop Capital lifted their price target on Lumentum from $900.00 to $1,400.00 and gave the company a "buy" rating in a research note on Tuesday, May 5th. Morgan Stanley upped their price target on Lumentum from $900.00 to $1,000.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 12th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $1,036.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $1,044.67.

Key Headlines Impacting Lumentum

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Northland Securities raised its Lumentum earnings forecasts substantially. The firm lifted its FY2027 EPS estimate to $19.81 from $14.97, with quarterly estimates now ranging from $3.81 in Q1 to $6.20 in Q4. Northland maintained an “Outperform” rating and a $1,200 price target, supporting the bullish case for continued earnings growth. Northland Securities analyst estimate report
• Positive Sentiment: Lumentum is being highlighted as an AI-infrastructure beneficiary. Analysts and financial publications point to rising demand for optical networking equipment as data centers expand to support artificial intelligence workloads. Lumentum is positioned across the optics and networking portions of that buildout. Beyond Chipmakers: 4 Stocks to Buy That Power AI Data Center Expansion
• Positive Sentiment: LITE was added to Zacks’ Rank #1 momentum-stock list. The designation may attract momentum-oriented investors and reinforces the stock’s strong recent performance. Best Momentum Stocks to Buy for August 21st
• Neutral Sentiment: A report on data-center construction emphasized the enormous fiber requirements of new AI facilities, a potential long-term demand driver for optical-component suppliers such as Lumentum. However, the article provided limited company-specific financial updates. A Single Meta Data Center Will Require “8 Million Miles of Fiber”
• Negative Sentiment: Valuation concerns could be limiting further upside. A Seeking Alpha analysis characterized Lumentum as increasingly expensive after its sharp rally. With the shares near their 52-week high and the company still reporting a negative net margin, some investors may be taking profits despite the favorable growth outlook. Lumentum: It’s Getting Expensive

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.

Want to see what other hedge funds are holding LITE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lumentum Holdings Inc. (NASDAQ:LITE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source