Lumentum (NASDAQ:LITE) Stock Price Up 7.8% Following Analyst Upgrade

Lumentum Holdings Inc. (NASDAQ:LITE) traded up 7.8% on Tuesday after Mizuho raised their price target on the stock to $645.00. Mizuho currently has an outperform rating on the stock. Lumentum traded as high as $612.50 and last traded at $606.6630. 3,806,765 shares changed hands during trading, a decline of 26% from the average session volume of 5,163,739 shares. The stock had previously closed at $562.74.

A number of other research analysts have also issued reports on the stock. Bank of America boosted their price target on shares of Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Morgan Stanley boosted their price objective on Lumentum to $350.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Citigroup raised their price target on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Northland Securities set a $350.00 target price on shares of Lumentum in a research report on Wednesday, December 3rd. Finally, Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $447.38.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the transaction, the insider owned 102,455 shares in the company, valued at $60,583,690.60. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Pamela Fletcher sold 3,421 shares of Lumentum stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $273.53, for a total value of $935,746.13. Following the completion of the transaction, the director owned 10,561 shares in the company, valued at approximately $2,888,750.33. This represents a 24.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 58,118 shares of company stock valued at $32,759,088. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Several institutional investors have recently added to or reduced their stakes in LITE. Federated Hermes Inc. raised its holdings in shares of Lumentum by 7,168.8% in the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after acquiring an additional 357,367 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in shares of Lumentum during the 3rd quarter valued at about $71,771,000. Pacer Advisors Inc. bought a new stake in Lumentum in the 3rd quarter worth approximately $1,512,000. Leeward Investments LLC MA grew its position in Lumentum by 14.8% during the second quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock valued at $49,092,000 after acquiring an additional 66,541 shares during the last quarter. Finally, Braun Stacey Associates Inc. bought a new position in Lumentum during the third quarter valued at approximately $15,125,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Stock Performance

The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $397.59 and its 200 day moving average is $259.02. The company has a market cap of $43.31 billion, a P/E ratio of 185.96 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same period last year, the firm earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

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.