Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $1,012.6667.

Several analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research note on Friday, July 17th. B. Riley Financial reaffirmed a “buy” rating on shares of Lumentum in a report on Friday, May 1st. TD Cowen cut their price target on Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Rosenblatt Securities upped their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Wednesday, May 6th. Finally, Northland Securities increased their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company’s stock, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares in the company, valued at $58,144,206.45. This represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 41,260 shares of company stock worth $38,859,220 in the last quarter. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Hilltop National Bank grew its stake in shares of Lumentum by 26.8% in the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after buying an additional 15 shares in the last quarter. Sachetta LLC lifted its position in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Lumentum by 39.5% during the 2nd quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after purchasing an additional 30 shares during the last quarter. Hilton Head Capital Partners LLC bought a new position in Lumentum during the first quarter worth $25,000. Finally, Abel Hall LLC boosted its holdings in shares of Lumentum by 5.5% during the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after buying an additional 36 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

LITE opened at $651.93 on Friday. The stock’s 50 day simple moving average is $836.46 and its 200-day simple moving average is $732.51. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock has a market cap of $50.72 billion, a PE ratio of 120.73 and a beta of 1.48. Lumentum has a 1 year low of $101.61 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Sell-side analysts forecast that Lumentum will post 6.42 EPS for the current year.

About Lumentum

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.