Lumentum Holdings Inc. (NASDAQ:LITE) Given Average Rating of “Moderate Buy” by Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have earned a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $1,021.9524.

A number of equities analysts have issued reports on the company. Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Susquehanna increased their price target on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th. Finally, UBS Group increased their price target on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th.

Insider Activity at Lumentum

In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the transaction, the director owned 8,400 shares in the company, valued at approximately $7,224,000. This represents a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the 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 $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. The trade was a 3.79% 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 have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last ninety days. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently made changes to their positions in LITE. 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 valued at $59,000 after acquiring an additional 254 shares during the last quarter. NewEdge Advisors LLC raised its holdings in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after acquiring an additional 6,275 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after acquiring an additional 680 shares during the last quarter. Hsbc Holdings PLC acquired a new position in shares of Lumentum during the second quarter valued at approximately $298,000. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Lumentum during the second quarter valued at approximately $1,712,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Up 3.7%

Shares of LITE opened at $895.40 on Thursday. Lumentum has a 52 week low of $80.39 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 165.82 and a beta of 1.47. The stock’s 50-day moving average price is $884.42 and its 200-day moving average price is $614.94.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS 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 return on equity of 24.81% and a net margin of 17.61%.The company’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts predict that Lumentum will post 6.49 EPS for the current year.

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.