Lumentum (NASDAQ:LITE) Price Target Raised to $645.00

Lumentum (NASDAQ:LITE) had its target price hoisted by Mizuho to $645.00 in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. Mizuho currently has an outperform rating on the technology company’s stock.

A number of other research firms have also recently issued reports on LITE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a research report on Monday, December 29th. Northland Securities set a $350.00 price target on shares of Lumentum in a research note on Wednesday, December 3rd. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Citigroup increased their price objective on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Finally, Bank of America boosted their target price on shares of Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $447.38.

Lumentum Stock Performance

NASDAQ LITE opened at $635.64 on Tuesday. The firm’s 50 day simple moving average is $412.23 and its 200 day simple moving average is $267.39. The firm has a market capitalization of $45.38 billion, a price-to-earnings ratio of 194.98 and a beta of 1.51. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum has a 1 year low of $45.65 and a 1 year high of $636.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million during 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 company’s revenue was up 65.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, research analysts expect that Lumentum will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the transaction, the insider directly owned 102,455 shares of the company’s stock, valued at $60,583,690.60. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Yuen Wupen sold 3,157 shares of Lumentum 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 transaction, the insider directly owned 88,439 shares in the company, valued at $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,473 shares of company stock valued at $35,186,972. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. increased its position in Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after purchasing an additional 254 shares during the period. NewEdge Advisors LLC lifted its position 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 worth $747,000 after purchasing an additional 6,275 shares during the period. Empowered Funds LLC boosted its stake in shares of Lumentum by 9.1% in the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after purchasing an additional 680 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Lumentum by 42.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,691 shares of the technology company’s stock worth $636,000 after buying an additional 1,987 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in Lumentum by 13.3% during the second quarter. Allianz Asset Management GmbH now owns 61,978 shares of the technology company’s stock worth $5,892,000 after buying an additional 7,256 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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.