Mitsubishi UFJ Asset Management Co. Ltd. Lowers Holdings in Lumentum Holdings Inc. $LITE

Mitsubishi UFJ Asset Management Co. Ltd. lowered its stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 12.2% in the second quarter, HoldingsChannel reports. The fund owned 29,708 shares of the technology company’s stock after selling 4,114 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Lumentum were worth $2,824,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LITE. Skandinaviska Enskilda Banken AB publ purchased a new stake in Lumentum in the first quarter valued at approximately $25,000. FNY Investment Advisers LLC acquired a new position in shares of Lumentum in the 2nd quarter valued at $38,000. SVB Wealth LLC acquired a new position in shares of Lumentum in the 1st quarter valued at $40,000. Advisors Asset Management Inc. grew its stake in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares during the period. Finally, Hantz Financial Services Inc. increased its holdings in shares of Lumentum by 224.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 704 shares of the technology company’s stock worth $67,000 after buying an additional 487 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 3,281 shares of Lumentum stock in a transaction on Wednesday, August 27th. The shares were sold at an average price of $124.86, for a total transaction of $409,665.66. Following the sale, the insider owned 101,273 shares of the company’s stock, valued at $12,644,946.78. The trade was a 3.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Wajid Ali sold 2,526 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total transaction of $314,209.14. Following the completion of the transaction, the chief financial officer directly owned 77,087 shares of the company’s stock, valued at approximately $9,588,851.93. The trade was a 3.17% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 39,521 shares of company stock worth $7,638,422. 0.43% of the stock is currently owned by insiders.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $226.86 on Friday. The business’s 50-day simple moving average is $178.84 and its 200 day simple moving average is $123.70. The company has a market cap of $16.08 billion, a P/E ratio of 152.26 and a beta of 1.48. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37. Lumentum Holdings Inc. has a one year low of $45.65 and a one year high of $273.89.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.07. The company had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. Lumentum’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same quarter last year, the company earned $0.18 earnings per share. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. On average, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LITE shares. JPMorgan Chase & Co. lifted their target price on Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Rosenblatt Securities raised their price objective on Lumentum to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. UBS Group lifted their price objective on Lumentum from $78.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, August 13th. Bank of America upgraded Lumentum from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $78.00 to $135.00 in a report on Wednesday, August 13th. Finally, Northland Securities set a $250.00 price target on shares of Lumentum in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.67.

About Lumentum

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.