Lumentum (NASDAQ:LITE) Stock Price Down 7.8% – What’s Next?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) were down 7.8% on Friday . The company traded as low as $775.04 and last traded at $794.9720. Approximately 1,152,126 shares were traded during mid-day trading, a decline of 81% from the average session volume of 5,943,965 shares. The stock had previously closed at $861.97.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Citigroup lifted their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a report on Tuesday, June 9th. JPMorgan Chase & Co. boosted their price target on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Finally, TD Cowen increased their price objective on shares of Lumentum from $875.00 to $995.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Price Performance

The stock has a market capitalization of $61.85 billion, a PE ratio of 147.22 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The stock’s 50-day moving average is $901.14 and its 200 day moving average is $667.33.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter in the previous year, the firm earned $0.57 earnings per share. The business’s revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities analysts expect that Lumentum Holdings Inc. will post 6.36 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,260 shares of company stock valued at $38,859,220 in the last 90 days. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Several hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC increased its position in Lumentum by 71.8% in the 1st quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock valued at $394,000 after acquiring an additional 234 shares during the period. Caerus Investment Advisors LLC purchased a new position in shares of Lumentum in the 1st quarter valued at approximately $346,000. Concorde Asset Management LLC acquired a new position in shares of Lumentum in the first quarter valued at approximately $212,000. Glenmede Trust Co. NA raised its stake in shares of Lumentum by 39.2% during the first quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 427 shares during the last quarter. Finally, Essential Partners LLC raised its stake in shares of Lumentum by 590.3% during the first quarter. Essential Partners LLC now owns 214 shares of the technology company’s stock worth $150,000 after purchasing an additional 183 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.