Lumentum (NASDAQ:LITE) Stock Price Up 9.1% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) shares traded up 9.1% during trading on Tuesday . The stock traded as high as $386.60 and last traded at $389.6930. 3,589,985 shares traded hands during trading, a decline of 11% from the average session volume of 4,029,558 shares. The stock had previously closed at $357.05.

Analysts Set New Price Targets

LITE has been the topic of several recent analyst reports. Barclays lifted their price target on Lumentum from $165.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, November 6th. Wall Street Zen lowered Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Susquehanna boosted their target price on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. B. Riley raised their price target on shares of Lumentum from $83.00 to $147.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Finally, Wolfe Research reaffirmed an “outperform” rating and set a $240.00 price target on shares of Lumentum in a report on Wednesday, November 5th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $222.13.

Lumentum Stock Performance

The company has a market capitalization of $28.15 billion, a P/E ratio of 266.71 and a beta of 1.51. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The company has a fifty day moving average price of $302.70 and a two-hundred day moving average price of $190.90.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, topping the consensus estimate of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The business had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. During the same period last year, the company earned $0.18 EPS. The firm’s revenue was up 58.4% compared to the same quarter last year. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Pamela Fletcher sold 3,421 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $273.53, for a total value of $935,746.13. Following the completion of the sale, the director owned 10,561 shares of the company’s stock, valued at approximately $2,888,750.33. This represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Julia Suzanne Johnson sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $270.39, for a total value of $2,703,900.00. Following the transaction, the director owned 12,037 shares of the company’s stock, valued at $3,254,684.43. This trade represents a 45.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 28,612 shares of company stock valued at $7,317,398 over the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumentum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LITE. EverSource Wealth Advisors LLC raised its holdings in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the last quarter. Danske Bank A S acquired a new stake in shares of Lumentum during the third quarter worth $33,000. FNY Investment Advisers LLC bought a new position in Lumentum during the second quarter worth $38,000. 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 valued at $43,000 after buying an additional 96 shares during the period. Finally, Steigerwald Gordon & Koch Inc. acquired a new position in Lumentum in the third quarter valued at $49,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.