Lumentum (NASDAQ:LITE) Stock Price Up 5.6% – Time to Buy?

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price rose 5.6% on Tuesday . The company traded as high as $816.92 and last traded at $815.75. Approximately 5,203,860 shares were traded during mid-day trading, a decline of 13% from the average daily volume of 6,006,132 shares. The stock had previously closed at $772.28.

Wall Street Analyst Weigh In

LITE has been the topic of a number of analyst reports. TD Cowen initiated coverage on Lumentum in a research note on Thursday, March 12th. They issued a “hold” rating and a $675.00 price target on the stock. Mizuho lifted their target price on Lumentum to $645.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Needham & Company LLC lifted their target price on Lumentum to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Susquehanna lifted their target price on Lumentum to $550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 4th. Finally, Morgan Stanley lifted their target price on Lumentum to $595.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $575.06.

Lumentum Price Performance

The stock has a 50-day moving average price of $631.71 and a 200 day moving average price of $397.16. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The firm has a market cap of $58.24 billion, a price-to-earnings ratio of 250.23 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.26. The firm had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total value of $1,698,466.00. Following the transaction, the insider owned 88,439 shares in the company, valued at $47,580,182. The trade was a 3.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vincent Retort sold 45,026 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the transaction, the insider directly owned 102,455 shares in the company, valued at $60,583,690.60. This represents a 30.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 65,775 shares of company stock worth $38,851,343. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Several institutional investors have recently bought and sold shares of LITE. EverSource Wealth Advisors LLC increased its position in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new position in Lumentum during the 4th quarter worth approximately $28,000. Truvestments Capital LLC increased its position in Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the period. Triumph Capital Management acquired a new position in Lumentum during the 4th quarter worth approximately $30,000. Finally, Danske Bank A S acquired a new position in Lumentum during the 3rd quarter worth approximately $33,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.