Lumentum (NASDAQ:LITE) Cut to “Neutral” at B. Riley Financial

06 Nov 2026, 07:01 by Sarita Garza · The Markets Daily

B. Riley Financial cut shares of Lumentum (NASDAQ:LITE – Free Report) from a buy rating to a neutral rating in a report issued on Tuesday morning, MarketBeat.com reports. The brokerage currently has $770.00 target price on the technology company’s stock, down from their prior target price of $1,142.00.

LITE has been the subject of a number of other reports. Morgan Stanley lifted their price target on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 12th. TD Cowen increased their price objective on shares of Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 target price on shares of Lumentum in a report on Monday, October 5th. UBS Group set a $820.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Lumentum in a research note on Monday, August 31st. They set a “buy” rating and a $1,200.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,081.61.

Check Out Our Latest Stock Report on Lumentum

Lumentum Trading Down 18.7%

Lumentum stock opened at $509.70 on Tuesday. Lumentum has a one year low of $215.35 and a one year high of $1,143.00. The business’s fifty day moving average is $902.48 and its 200 day moving average is $800.69. The stock has a market capitalization of $46.23 billion, a PE ratio of -6.47 and a beta of 1.64. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.61 and a quick ratio of 1.40.

Lumentum (NASDAQ:LITE – Get Free Report) last issued its earnings results on Monday, November 2nd. The technology company reported $4.57 earnings per share for the quarter, topping analysts’ consensus estimates of $4.22 by $0.35. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $1.26 billion. Lumentum had a positive return on equity of 28.85% and a negative net margin of 175.82%. Lumentum’s revenue was up 136.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.10 EPS. On average, sell-side analysts predict that Lumentum will post 19.80 EPS for the current year.

Insider Activity at Lumentum

In related news, CFO Wajid Ali sold 24,542 shares of Lumentum stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the transaction, the chief financial officer directly owned 75,074 shares in the company, valued at approximately $78,715,089. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael Hurlston sold 548 shares of the business’s stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $958.66, for a total value of $525,345.68. Following the sale, the chief executive officer directly owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 94,496 shares of company stock valued at $85,978,498 in the last ninety days. Corporate insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Jupiter Topco LLC purchased a new stake in shares of Lumentum in the second quarter valued at $1,621,396,000. Amundi boosted its stake in shares of Lumentum by 188.7% during the 2nd quarter. Amundi now owns 658,427 shares of the technology company’s stock worth $564,970,000 after purchasing an additional 430,355 shares during the period. WT Asset Management Ltd bought a new position in Lumentum during the 2nd quarter valued at about $494,688,000. Janus Henderson Group PLC grew its holdings in Lumentum by 163.2% during the 1st quarter. Janus Henderson Group PLC now owns 567,182 shares of the technology company’s stock valued at $398,590,000 after purchasing an additional 351,676 shares during the last quarter. Finally, Legal & General Group Plc bought a new position in Lumentum during the 2nd quarter valued at about $376,539,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

More Lumentum News

Here are the key news stories impacting Lumentum this week:

Positive Sentiment: The proposed Marvell acquisition could combine complementary technologies and support revenue growth and better gross margins over time. Marvell’s Deal to Acquire Lumentum Could Be a Game Changer for the Stock
Neutral Sentiment: The deal is an all-stock transaction, with Lumentum holders set to receive 4.5 Marvell shares per Lumentum share. That structure means the value of the consideration can fluctuate with Marvell’s stock. Lumentum declines, continues retreat after all-stock Marvell deal
Negative Sentiment: The immediate pressure appears largely sector-driven: AI optical stocks fell for a second session, with selling persisting even as companies in the group reported strong results. One report said Lumentum’s decline had no clear company-specific catalyst. AI optical stocks slide Lumentum Drops in a Single Session With No Clear Catalyst
Negative Sentiment: Several firms issued more cautious views: Rosenblatt lowered expectations, TD Cowen published a pessimistic forecast, and B. Riley downgraded its rating. Rosenblatt Securities Lowers Expectations TD Cowen Issues Pessimistic Forecast B. Riley Lowers Lumentum Rating
Negative Sentiment: A law firm is investigating the proposed Marvell deal’s price and process, adding another source of transaction uncertainty. Investor alert on proposed sale investigation

Lumentum Company Profile

(Get Free Report)

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.