Lumentum (NASDAQ:LITE) Trading Up 2% – What’s Next?

by · The Markets Daily

Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) shares shot up 2% on Friday . The company traded as high as $732.83 and last traded at $702.73. 5,091,074 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 5,946,642 shares. The stock had previously closed at $688.80.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

Analyst Ratings Changes

A number of equities analysts recently commented on LITE shares. Rosenblatt Securities reiterated a “buy” rating and issued a $900.00 target price on shares of Lumentum in a research report on Wednesday, March 18th. Weiss Ratings restated a “hold (c-)” rating on shares of Lumentum in a research report on Monday, December 29th. Northland Securities set a $350.00 price objective on Lumentum in a research note on Wednesday, December 3rd. Needham & Company LLC lifted their price objective on Lumentum to $850.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th. Finally, Barclays boosted their target price on Lumentum to $750.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and an average price target of $575.06.

Check Out Our Latest Research Report on LITE

Lumentum Trading Up 2.0%

The stock has a market capitalization of $50.17 billion, a P/E ratio of 215.56 and a beta of 1.38. The firm’s 50 day moving average price is $574.57 and its 200 day moving average price is $365.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE – Get Free Report) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $646.74 million. During the same period last year, the firm earned $0.42 earnings per share. Lumentum’s quarterly revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the sale, the chief financial officer owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Penny Herscher sold 4,000 shares of Lumentum stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the completion of the sale, the director owned 2,057 shares in the company, valued at approximately $1,228,625.53. This trade represents a 66.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,775 shares of company stock valued at $38,851,343 in the last 90 days. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. boosted its stake in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after buying an additional 6,275 shares during the period. Empowered Funds LLC raised its stake in Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares in the last quarter. MAI Capital Management lifted its holdings in Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after buying an additional 96 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Lumentum by 4.5% in the second quarter. Legal & General Group Plc now owns 116,288 shares of the technology company’s stock worth $11,054,000 after buying an additional 5,052 shares during the period. 94.05% of the stock is currently owned by institutional investors.

About Lumentum

(Get Free Report)

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.

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