Nomura Asset Management Co. Ltd. Buys 114,714 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Nomura Asset Management increased its Lumentum stake by 45% in the fourth quarter, buying 114,714 shares and ending with 369,804 shares worth about $136.3 million.
• Insiders sold shares recently, including Director Brian Lillie and insider Vincent Retort; overall insider sales totaled 35,844 shares worth about $34.0 million over the last three months.
• Analysts remain bullish on Lumentum, with multiple target-price increases and a consensus rating of “Moderate Buy” and average price target of $1,012.43.

Nomura Asset Management Co. Ltd. grew its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 45.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 369,804 shares of the technology company's stock after acquiring an additional 114,714 shares during the quarter. Nomura Asset Management Co. Ltd. owned 0.52% of Lumentum worth $136,306,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Allworth Financial LP increased its stake in shares of Lumentum by 6.4% in the 3rd quarter. Allworth Financial LP now owns 784 shares of the technology company's stock valued at $128,000 after acquiring an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Lumentum by 0.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company's stock worth $5,208,000 after purchasing an additional 60 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its stake in Lumentum by 0.4% during the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company's stock worth $2,532,000 after purchasing an additional 64 shares in the last quarter. IFP Advisors Inc increased its stake in Lumentum by 9.6% during the 4th quarter. IFP Advisors Inc now owns 822 shares of the technology company's stock worth $303,000 after purchasing an additional 72 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Lumentum by 58.9% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 205 shares of the technology company's stock worth $76,000 after purchasing an additional 76 shares in the last quarter. 94.05% of the stock is owned by institutional investors.

Insider Buying and Selling at Lumentum

In related news, Director Brian Lillie sold 11,951 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the completion of the transaction, the director owned 13,959 shares in the company, valued at approximately $13,702,712.76. This represents a 46.13% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company's stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. 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. Insiders have sold a total of 35,844 shares of company stock valued at $34,003,107 in the last three months. 0.43% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LITE shares. Stifel Nicolaus increased their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday, May 5th. Zacks Research raised Lumentum from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 13th. BNP Paribas Exane increased their target price on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Citigroup increased their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday, April 21st. Finally, Bank of America increased their target price on Lumentum to $520.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,012.43.

Lumentum Price Performance

NASDAQ LITE opened at $854.96 on Friday. The firm's 50 day moving average is $862.40 and its 200-day moving average is $583.63. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $66.52 billion, a PE ratio of 158.33 and a beta of 1.53. Lumentum Holdings Inc. has a 12-month low of $71.04 and a 12-month high of $1,085.68.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm's revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts anticipate 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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