Sumitomo Mitsui Trust Group Inc. Acquires Shares of 140,975 Lumentum Holdings Inc. $LITE

Sumitomo Mitsui Trust Group Inc. bought a new stake in Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 140,975 shares of the technology company’s stock, valued at approximately $99,072,000. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of Lumentum as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum in the 1st quarter valued at about $25,000. Abel Hall LLC lifted its position in Lumentum by 5.5% during the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after acquiring an additional 36 shares during the period. Parallel Advisors LLC grew its stake in shares of Lumentum by 16.0% in the 4th quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock valued at $120,000 after purchasing an additional 45 shares during the last quarter. Allworth Financial LP grew 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 purchasing an additional 47 shares during the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Lumentum by 5.2% in the fourth quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock valued at $357,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Citic Securities lifted their price objective on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Insider Activity

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the completion of the sale, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the business’s 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 sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents 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 41,260 shares of company stock valued at $38,859,220 in the last quarter. Insiders own 0.43% of the company’s stock.

Lumentum Price Performance

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

Lumentum (NASDAQ:LITE) last announced its quarterly 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. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share 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.