Lumentum (NASDAQ:LITE) Stock Price Down 6.5% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) fell 6.5% on Monday . The stock traded as low as $373.00 and last traded at $365.3480. 625,635 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 3,130,541 shares. The stock had previously closed at $390.77.

Analyst Ratings Changes

Several brokerages have commented on LITE. JPMorgan Chase & Co. upped their target price on shares of Lumentum from $145.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, October 16th. Northland Securities set a $350.00 price objective on Lumentum in a research note on Wednesday, December 3rd. Mizuho upped their price objective on Lumentum to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Stifel Nicolaus set a $220.00 target price on Lumentum in a research note on Wednesday, November 5th. Finally, Susquehanna raised their target price on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $222.13.

Lumentum Price Performance

The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 2.77. The company has a fifty day moving average price of $278.69 and a two-hundred day moving average price of $178.88. The firm has a market cap of $26.53 billion, a P/E ratio of 250.96 and a beta of 1.52.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. The firm had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The company’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Lumentum news, insider Yuen Wupen sold 822 shares of Lumentum stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total value of $212,865.12. Following the sale, the insider directly owned 95,077 shares in the company, valued at approximately $24,621,139.92. The trade was a 0.86% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jae Kim sold 170 shares of the business’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $246.00, for a total transaction of $41,820.00. Following the sale, the senior vice president directly owned 38,400 shares in the company, valued at $9,446,400. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,612 shares of company stock valued at $7,317,398 over the last 90 days. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Lumentum

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Leeward Investments LLC MA grew its holdings in shares of Lumentum by 14.8% during the second quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock worth $49,092,000 after purchasing an additional 66,541 shares during the last quarter. Schroder Investment Management Group boosted its position in Lumentum by 1.9% during the 2nd quarter. Schroder Investment Management Group now owns 881,813 shares of the technology company’s stock worth $83,825,000 after buying an additional 16,200 shares during the period. Assenagon Asset Management S.A. grew its holdings in Lumentum by 198.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 123,229 shares of the technology company’s stock worth $20,051,000 after acquiring an additional 81,906 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in Lumentum by 45.7% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 10,200 shares of the technology company’s stock worth $966,000 after acquiring an additional 3,200 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in Lumentum in the 2nd quarter valued at approximately $272,000. Institutional investors own 94.05% of the company’s stock.

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.