Lumentum (NASDAQ:LITE) Given New $950.00 Price Target at JPMorgan Chase & Co.

Lumentum (NASDAQ:LITE) had its target price hoisted by equities researchers at JPMorgan Chase & Co. from $565.00 to $950.00 in a report issued on Thursday,MarketScreener reports. The firm currently has an “overweight” rating on the technology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.40% from the stock’s previous close.

LITE has been the subject of a number of other reports. Susquehanna upped their price objective on shares of Lumentum to $550.00 and gave the company a “positive” rating in a research note on Wednesday, February 4th. Needham & Company LLC lifted their target price on shares of Lumentum to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 29th. Morgan Stanley upped their price target on shares of Lumentum to $595.00 and gave the company an “equal weight” rating in a research report on Wednesday, March 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $900.00 price objective on shares of Lumentum in a research note on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $616.94.

Lumentum Price Performance

Shares of LITE traded up $40.84 during trading hours on Thursday, hitting $936.86. 1,591,640 shares of the company were exchanged, compared to its average volume of 5,943,952. 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 company has a market capitalization of $66.89 billion, a PE ratio of 289.73 and a beta of 1.38. The firm has a fifty day simple moving average of $650.83 and a 200-day simple moving average of $405.17. Lumentum has a one year low of $49.13 and a one year high of $960.00.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same period in the previous year, the firm earned $0.42 earnings per share. Lumentum’s revenue for the quarter was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, sell-side analysts predict that Lumentum will post 0.03 earnings per share for the current year.

Insider Activity at Lumentum

In related news, insider Yuen Wupen sold 3,157 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the sale, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vincent Retort sold 3,441 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the transaction, the insider directly owned 95,975 shares in the company, valued at $52,381,235.50. The trade was a 3.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,775 shares of company stock valued at $38,851,343 over the last ninety days. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in 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 purchasing an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in Lumentum by 18.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Lumentum by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after purchasing an additional 123,265 shares in the last quarter. Situational Awareness LP lifted its holdings in shares of Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after buying an additional 880,800 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Lumentum during the 4th quarter valued at about $474,495,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.