Lumentum (NASDAQ:LITE) Shares Up 3% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price shot up 3% on Friday . The company traded as high as $772.60 and last traded at $713.94. 4,526,212 shares traded hands during mid-day trading, a decline of 21% from the average daily volume of 5,747,126 shares. The stock had previously closed at $693.24.

Wall Street Analyst Weigh In

LITE has been the subject of several recent research reports. Barclays boosted their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Loop Capital increased their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Tuesday, June 9th. TD Cowen lowered their target price on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Finally, UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business’s fifty day moving average is $825.72 and its 200-day moving average is $736.71. The firm has a market cap of $55.54 billion, a PE ratio of 132.21 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $810.21 million. During the same period in the prior year, the company earned $0.57 earnings per share. Lumentum’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. On average, research analysts predict that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insider Activity at Lumentum

In related news, Director Ian Small sold 4,954 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction dated 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 sale, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 41,260 shares of company stock worth $38,859,220 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Several large investors have recently modified their holdings of the business. Hilltop National Bank increased its stake in shares of Lumentum by 26.8% in the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after acquiring an additional 15 shares in the last quarter. Sachetta LLC boosted its stake in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Versant Capital Management Inc grew its holdings in Lumentum by 39.5% in the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock worth $91,000 after purchasing an additional 30 shares during the period. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the first quarter worth about $25,000. Finally, Abel Hall LLC increased its stake in shares of Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors 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.