Lumentum (NASDAQ:LITE) Stock Price Up 6.2% – Here’s What Happened

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) were up 6.2% on Thursday . The stock traded as high as $881.88 and last traded at $879.28. Approximately 4,193,569 shares traded hands during trading, a decline of 27% from the average session volume of 5,727,942 shares. The stock had previously closed at $827.60.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on LITE shares. Mizuho lifted their target price on Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $1,165.00 to $1,280.00 and gave the company an “overweight” rating in a report on Wednesday, August 12th. Finally, Weiss Ratings cut shares of Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,044.67.

Lumentum Stock Up 6.2%

The firm has a fifty day moving average of $811.06 and a 200-day moving average of $786.24. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The firm has a market cap of $78.87 billion, a P/E ratio of -10.70 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The business’s revenue was up 109.3% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 16.97 earnings per share for the current year.

Insider Activity at Lumentum

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares in the company, valued at approximately $7,224,000. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total transaction of $2,894,715.69. Following the transaction, the insider owned 114,495 shares in the company, valued at approximately $104,125,187.85. The trade was a 2.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders sold 9,965 shares of company stock valued at $8,993,110. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently modified their holdings of LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum during the first quarter worth approximately $25,000. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares during the period. Truvestments Capital LLC boosted its stake in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the period. Triumph Capital Management acquired a new position in shares of Lumentum during the 4th quarter worth approximately $30,000. Finally, Danske Bank A S acquired a new position in shares of Lumentum during the 3rd quarter worth approximately $33,000. 94.05% of the stock is 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.