Lumentum (NASDAQ:LITE) Trading 8.8% Higher – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) traded up 8.8% during mid-day trading on Wednesday . The company traded as high as $784.89 and last traded at $764.65. 6,750,345 shares were traded during trading, an increase of 13% from the average session volume of 5,989,287 shares. The stock had previously closed at $702.76.

Analysts Set New Price Targets

A number of brokerages recently commented on LITE. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Stifel Nicolaus lifted their price objective on Lumentum to $800.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Needham & Company LLC increased their target price on Lumentum to $850.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. Susquehanna raised their price target on shares of Lumentum to $550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 4th. Finally, Barclays lifted their price target on shares of Lumentum to $750.00 and gave the stock 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 assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Stock Up 8.8%

The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $54.60 billion, a price-to-earnings ratio of 234.56 and a beta of 1.38. The stock has a 50 day moving average of $595.67 and a 200 day moving average of $379.44.

Lumentum (NASDAQ:LITE) last released its 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. The company had revenue of $665.50 million for 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%.Lumentum’s quarterly revenue was up 65.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction on Friday, February 6th. The shares were sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares of the company’s stock, valued at $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Yuen Wupen sold 3,157 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the sale, the insider owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. The trade was a 3.45% decrease in their position. 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 valued at $38,851,343. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the business. Truvestments Capital LLC grew its holdings in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in shares of Lumentum in the 4th quarter worth approximately $28,000. Triumph Capital Management bought a new stake in shares of Lumentum in the 4th quarter worth approximately $30,000. Harbour Investments Inc. boosted its position in Lumentum by 675.0% during the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after purchasing an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new position in Lumentum during the 4th quarter valued at approximately $37,000. 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.