Lumentum (NASDAQ:LITE) Trading 8.1% Higher – Here’s What Happened

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) were up 8.1% on Thursday . The stock traded as high as $827.56 and last traded at $826.88. Approximately 7,825,034 shares changed hands during mid-day trading, an increase of 30% from the average daily volume of 6,015,555 shares. The stock had previously closed at $764.65.

Analysts Set New Price Targets

LITE has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price target on shares of Lumentum to $850.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Citigroup upped their price objective on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. Mizuho raised their target price on Lumentum to $645.00 and gave the company an “outperform” rating in a research note on Tuesday, February 17th. TD Cowen initiated coverage on Lumentum in a research report on Thursday, March 12th. They set a “hold” rating and a $675.00 target price on the stock. Finally, Bank of America boosted their price target on Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Trading Up 8.1%

The firm has a market cap of $59.04 billion, a P/E ratio of 253.64 and a beta of 1.38. The business’s 50 day moving average is $603.71 and its 200-day moving average is $382.13. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

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

Insider Transactions at Lumentum

In related news, insider Yuen Wupen sold 3,157 shares of the business’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 completion of the sale, the insider directly owned 88,439 shares of the company’s stock, valued at $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vincent Retort sold 45,026 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the sale, the insider owned 102,455 shares in the company, valued at $60,583,690.60. The trade was a 30.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 65,775 shares of company stock valued at $38,851,343 over the last ninety days. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Several large investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. raised its holdings in shares of Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC boosted its holdings in shares of Lumentum by 109.9% in the 1st 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 grew its position in shares of Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after buying an additional 680 shares during the last quarter. Prudential Financial Inc. grew its position in shares of Lumentum by 21.3% during the 2nd quarter. Prudential Financial Inc. now owns 7,327 shares of the technology company’s stock valued at $697,000 after buying an additional 1,288 shares during the last quarter. Finally, Quadrant Capital Group LLC raised its stake in Lumentum by 433.5% during the second quarter. Quadrant Capital Group LLC now owns 4,391 shares of the technology company’s stock worth $417,000 after acquiring an additional 3,568 shares during the period. 94.05% of the stock is currently owned by 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.