Lumentum (NASDAQ:LITE) Shares Up 9.4% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) was up 9.4% during trading on Wednesday . The stock traded as high as $765.00 and last traded at $752.75. Approximately 1,596,371 shares traded hands during trading, a decline of 68% from the average daily volume of 4,917,870 shares. The stock had previously closed at $688.27.

Analyst Ratings Changes

Several equities research analysts have issued reports on LITE shares. Susquehanna lifted their target price on shares of Lumentum to $550.00 and gave the company a “positive” rating in a research report on Wednesday, February 4th. Mizuho raised their price objective on shares of Lumentum to $645.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and upped their target price for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. Wolfe Research reissued an “outperform” rating and issued a $240.00 target price on shares of Lumentum in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus target price of $458.00.

Lumentum Stock Performance

The company has a market cap of $52.43 billion, a P/E ratio of 225.76 and a beta of 1.51. The business has a 50 day moving average price of $433.34 and a two-hundred day moving average price of $281.54. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The business had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $646.74 million. During the same period in the previous year, the firm earned $0.42 EPS. The business’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. On average, sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Lumentum

In related news, insider Yuen Wupen sold 3,157 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total value of $1,698,466.00. Following the sale, the insider directly owned 88,439 shares of the company’s stock, valued at $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the transaction, the director owned 2,057 shares in the company, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 60,473 shares of company stock worth $35,186,972. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LITE. Federated Hermes Inc. raised its holdings in Lumentum by 7,168.8% in the third quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after purchasing an additional 357,367 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in Lumentum in the third quarter worth about $71,771,000. Pacer Advisors Inc. bought a new position in Lumentum in the 3rd quarter valued at approximately $1,512,000. Braun Stacey Associates Inc. bought a new position in shares of Lumentum during the third quarter valued at $15,125,000. Finally, Global Trust Asset Management LLC bought a new position in Lumentum during the 3rd quarter valued at about $1,942,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.