Mitsubishi UFJ Asset Management Co. Ltd. Acquires 2,105 Shares of Lumentum Holdings Inc. (NASDAQ:LITE)

Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 6.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,822 shares of the technology company's stock after buying an additional 2,105 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Lumentum were worth $2,108,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of Lumentum in the first quarter worth $25,000. Rakuten Securities Inc. increased its position in shares of Lumentum by 164.4% in the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock worth $30,000 after purchasing an additional 296 shares during the period. Golden State Wealth Management LLC increased its position in shares of Lumentum by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock worth $32,000 after purchasing an additional 260 shares during the period. CoreCap Advisors LLC increased its position in shares of Lumentum by 2,235.3% in the fourth quarter. CoreCap Advisors LLC now owns 397 shares of the technology company's stock worth $33,000 after purchasing an additional 380 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Lumentum by 132.9% in the first quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock worth $49,000 after purchasing an additional 448 shares during the period. Institutional investors own 94.05% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on LITE shares. Morgan Stanley raised their price target on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Raymond James Financial boosted their price target on Lumentum from $125.00 to $145.00 and gave the stock a "strong-buy" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday. Wall Street Zen raised Lumentum from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, Barclays boosted their price target on Lumentum from $75.00 to $135.00 and gave the company an "overweight" rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $124.00.

Insider Buying and Selling

In other Lumentum news, Director Alan S. Lowe sold 20,000 shares of Lumentum stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $93.47, for a total value of $1,869,400.00. Following the transaction, the director directly owned 230,471 shares of the company's stock, valued at $21,542,124.37. The trade was a 7.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Wajid Ali sold 2,222 shares of Lumentum stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $83.58, for a total value of $185,714.76. Following the completion of the transaction, the chief financial officer directly owned 47,460 shares in the company, valued at $3,966,706.80. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 76,000 shares of company stock worth $7,260,909 in the last ninety days. Corporate insiders own 0.19% of the company's stock.

Lumentum Price Performance

LITE traded up $1.24 during trading on Friday, reaching $115.86. 3,164,639 shares of the company were exchanged, compared to its average volume of 2,892,331. The company has a market cap of $8.04 billion, a price-to-earnings ratio of 503.74 and a beta of 1.33. Lumentum Holdings Inc. has a 12-month low of $45.65 and a 12-month high of $129.98. The company's 50-day moving average is $98.59 and its two-hundred day moving average is $78.85. The company has a quick ratio of 3.53, a current ratio of 4.37 and a debt-to-equity ratio of 2.26.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same quarter in the prior year, the company earned $0.06 EPS. The firm's revenue was up 55.9% on a year-over-year basis. Research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.