Sumitomo Mitsui Trust Group Inc. Invests $99.07 Million in Lumentum Holdings Inc. $LITE

Sumitomo Mitsui Trust Group Inc. acquired a new position in Lumentum Holdings Inc. (NASDAQ:LITE) during the 1st quarter, Holdings Channel reports. The fund acquired 140,975 shares of the technology company’s stock, valued at approximately $99,072,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership raised its position in Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after acquiring an additional 291,591 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after purchasing an additional 123,265 shares during the last quarter. Situational Awareness LP grew its position in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares during the last quarter. Norges Bank purchased a new position in shares of Lumentum during the 4th quarter worth approximately $474,495,000. Finally, Value Aligned Research Advisors LLC acquired a new position in shares of Lumentum during the 4th quarter worth approximately $432,062,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 2.1%

NASDAQ LITE traded up $16.24 during mid-day trading on Friday, reaching $802.01. 3,668,382 shares of the stock were exchanged, 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 business’s fifty day simple moving average is $882.31 and its 200 day simple moving average is $698.09. The stock has a market capitalization 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 quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last released 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. 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%. Lumentum’s revenue for the quarter was up 90.1% on a year-over-year basis. 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. On average, research analysts anticipate that Lumentum Holdings Inc. will post 6.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 Ian Small sold 4,954 shares of Lumentum stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the sale, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The SEC filing for this sale provides additional information. Over 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 company insiders.

Wall Street Analysts Forecast Growth

LITE has been the topic of a number of recent research reports. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Rosenblatt Securities boosted their price target on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Craig Hallum upped their price objective on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Northland Securities increased their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

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.