Resona Asset Management Co. Ltd. Invests $14.90 Million in Lumentum Holdings Inc. $LITE

Key Points

• Resona Asset Management opened a new position in Lumentum Holdings during the first quarter, buying 21,480 shares valued at about $14.9 million. Several other institutional investors also added to or initiated stakes, and institutions now own 94.05% of the stock.
• Insider selling has been notable, with executives and directors selling shares in recent months under pre-arranged plans. Over the last 90 days, insiders sold 41,260 shares worth about $38.9 million.
• Lumentum shares rose 2.1% to $802.01, while analysts remain broadly constructive with a Moderate Buy consensus and an average price target of $1,021.95. The company also reported stronger-than-expected quarterly EPS and raised its Q4 2026 guidance.

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

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

Insider Activity

In other news, insider Yuen Wupen sold 3,210 shares of the 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 sale, 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. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Isaac Hosojiro Harris sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the sale, the director directly owned 8,400 shares of the company's stock, valued at $7,224,000. This represents a 32.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citic Securities boosted their price target on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Zacks Research downgraded shares of Lumentum from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Raymond James Financial restated an "outperform" rating and set a $1,014.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. TD Cowen lifted their price target on shares of Lumentum from $875.00 to $995.00 and gave the company a "hold" rating in a report on Wednesday, May 6th. Finally, Jefferies Financial Group reiterated a "buy" rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of "Moderate Buy" and an average target price of $1,021.95.

Lumentum Trading Up 2.1%

Shares of LITE traded up $16.24 during midday trading on Friday, hitting $802.01. The stock had a trading volume of 3,668,382 shares, compared to its average volume of 4,709,263. Lumentum Holdings Inc. has a 1 year low of $90.98 and a 1 year high of $1,085.68. The firm has a market cap of $62.40 billion, a PE ratio of 148.52 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The stock's 50 day moving average is $882.31 and its 200 day moving average is $698.09.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts' consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts' expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm's revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 6.4 EPS for the current fiscal year.

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.

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.