Lumentum (NASDAQ:LITE) Stock Price Up 5.3% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price traded up 5.3% on Friday . The stock traded as high as $985.13 and last traded at $949.93. 4,702,097 shares traded hands during trading, a decline of 20% from the average session volume of 5,902,103 shares. The stock had previously closed at $902.32.

Analysts Set New Price Targets

Several analysts recently commented on the company. Rosenblatt Securities reaffirmed a “buy” rating and issued a $900.00 price target on shares of Lumentum in a research note on Wednesday, March 18th. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Bank of America lifted their price objective on Lumentum to $520.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a research report on Friday. Finally, TD Cowen boosted their target price on Lumentum from $675.00 to $875.00 and gave the stock a “hold” rating in a research report on Friday, April 10th. Eleven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus price target of $757.25.

Lumentum Stock Up 5.3%

The business has a fifty day moving average of $760.12 and a 200 day moving average of $481.86. The firm has a market cap of $67.83 billion, a P/E ratio of 291.39 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm’s revenue was up 65.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 5.87 EPS for the current year.

Insider Buying and Selling

In other Lumentum news, insider Vincent Retort sold 3,441 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the transaction, the insider directly owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. The trade was a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the completion of the transaction, the insider directly owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 65,775 shares of company stock worth $38,851,343. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum in the first quarter valued at about $25,000. Sachetta LLC grew its stake in Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the period. EverSource Wealth Advisors LLC grew its stake in Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after acquiring an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new position in Lumentum in the fourth quarter valued at about $28,000. Finally, Truvestments Capital LLC grew its stake in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the period. 94.05% of the stock is owned by institutional investors and hedge funds.

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.