Lumentum’s (LITE) “Buy” Rating Reaffirmed at Rosenblatt Securities

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research report issued on Monday,Benzinga reports. They currently have a $280.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target would indicate a potential downside of 4.75% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. UBS Group raised their price target on shares of Lumentum from $78.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, August 13th. Raymond James Financial lowered Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 target price for the company. in a research report on Friday, October 31st. Morgan Stanley reiterated a “cautious” rating and issued a $190.00 price target on shares of Lumentum in a research report on Wednesday, November 5th. Needham & Company LLC increased their price target on Lumentum from $235.00 to $290.00 and gave the company a “buy” rating in a research note on Monday. Finally, Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.31.

Lumentum Trading Up 15.0%

Shares of LITE stock traded up $38.38 during mid-day trading on Monday, reaching $293.97. 4,811,220 shares of the stock traded hands, compared to its average volume of 3,044,666. The company has a market cap of $20.84 billion, a price-to-earnings ratio of 197.07 and a beta of 1.48. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 2.77. The stock’s fifty day simple moving average is $189.56 and its two-hundred day simple moving average is $132.35. Lumentum has a 1-year low of $45.65 and a 1-year high of $295.31.

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 analysts’ consensus estimates of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The business had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. During the same quarter last year, the business earned $0.18 EPS. The firm’s quarterly revenue was up 58.4% on a year-over-year basis. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. On average, research analysts anticipate that Lumentum will post 0.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, Director Julia Suzanne Johnson sold 10,000 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the sale, the director directly owned 12,037 shares in the company, valued at approximately $3,254,684.43. This trade represents a 45.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Yuen Wupen sold 822 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total transaction of $212,865.12. Following the transaction, the insider owned 95,077 shares in the company, valued at $24,621,139.92. This represents a 0.86% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 34,419 shares of company stock valued at $8,041,273. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in LITE. Vanguard Group Inc. increased its holdings in shares of Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares in the last quarter. PointState Capital LP acquired a new stake in Lumentum in the 1st quarter valued at $213,503,000. Hood River Capital Management LLC increased its stake in Lumentum by 82.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Atreides Management LP raised its holdings in Lumentum by 6.8% during the first quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after buying an additional 119,938 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Lumentum by 1.1% in the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after buying an additional 19,085 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.