Lumentum (NASDAQ:LITE) Earns “Buy” Rating from Rosenblatt Securities

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reaffirmed by stock analysts at Rosenblatt Securities in a note issued to investors on Wednesday, Benzinga reports. They currently have a $1,300.00 target price on the technology company’s stock. Rosenblatt Securities’ target price would suggest a potential upside of 37.47% from the stock’s current price.

LITE has been the subject of several other reports. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 20th. Evercore began coverage on shares of Lumentum in a research report on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $1,040.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Citigroup reissued a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Finally, Mizuho raised their target price on Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,053.83.

Lumentum Stock Performance

Shares of Lumentum stock opened at $945.67 on Wednesday. The business has a 50-day simple moving average of $849.70 and a 200 day simple moving average of $838.01. Lumentum has a one year low of $144.52 and a one year high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The firm has a market capitalization of $84.83 billion, a price-to-earnings ratio of -11.50 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $987.70 million. During the same quarter in the previous year, the business posted $0.88 EPS. Lumentum’s quarterly revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, research analysts anticipate that Lumentum will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other Lumentum news, CEO Michael E. Hurlston sold 548 shares of Lumentum stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $958.66, for a total transaction of $525,345.68. Following the transaction, the chief executive officer owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This trade represents a 0.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jae Kim sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the completion of the transaction, the senior vice president owned 37,804 shares in the company, valued at $32,230,934.32. The trade was a 24.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 67,647 shares of company stock valued at $58,061,056 over the last ninety days. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. CYBER HORNET ETFs LLC boosted its position in Lumentum by 7.2% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock valued at $179,000 after buying an additional 14 shares during the period. Hilltop National Bank increased its position in shares of Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after acquiring an additional 15 shares during the period. Sachetta LLC increased its position in shares of 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 during the period. Toth Financial Advisory Corp raised its stake in shares of Lumentum by 127.3% during the second quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock valued at $43,000 after acquiring an additional 28 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.