Lumentum (NASDAQ:LITE) Shares Up 4.6% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price was up 4.6% during trading on Wednesday . The stock traded as high as $894.74 and last traded at $877.3290. 763,245 shares were traded during trading, a decline of 86% from the average session volume of 5,524,483 shares. The stock had previously closed at $838.96.

Analysts Set New Price Targets

Several research firms have issued reports on LITE. Weiss Ratings downgraded shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. Rosenblatt Securities reiterated a “buy” rating and set a $1,300.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. Evercore started coverage on Lumentum in a report on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 target price for the company. Northland Securities upped their target price 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. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Lumentum in a research note on Monday, August 31st. They set a “buy” rating and a $1,200.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,053.83.

Lumentum Stock Performance

The stock has a market cap of $80.70 billion, a PE ratio of -10.94 and a beta of 1.53. The stock has a fifty day moving average of $834.38 and a 200-day moving average of $830.21. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 19.78 EPS for the current year.

Insider Buying and Selling

In other Lumentum news, SVP Jae Kim sold 12,000 shares of the company’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the completion of the transaction, the senior vice president owned 37,804 shares in the company, valued at approximately $32,230,934.32. This represents a 24.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Michael E. Hurlston sold 548 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $958.66, for a total transaction of $525,345.68. Following the completion of the sale, the chief executive officer owned 186,951 shares of the company’s stock, valued at $179,222,445.66. This trade represents a 0.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 66,647 shares of company stock valued at $57,172,641 over the last three months. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in LITE. Sequoia Financial Advisors LLC raised its holdings in shares of Lumentum by 36.9% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,272 shares of the technology company’s stock worth $1,950,000 after purchasing an additional 612 shares during the period. Van Hulzen Asset Management LLC acquired a new stake in Lumentum during the 2nd quarter worth approximately $644,000. Arlington Capital Management Inc. raised its holdings in Lumentum by 196.3% in the second quarter. Arlington Capital Management Inc. now owns 883 shares of the technology company’s stock valued at $758,000 after buying an additional 585 shares during the period. Gemmer Asset Management LLC purchased a new position in Lumentum in the second quarter valued at approximately $1,517,000. Finally, National Pension Service lifted its position in Lumentum by 2,501.2% during the second quarter. National Pension Service now owns 104,049 shares of the technology company’s stock valued at $89,280,000 after buying an additional 100,049 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Company Profile

Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.