Lumentum (NASDAQ:LITE) Shares Up 10.4% – Still a Buy?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 10.4% on Friday . The company traded as high as $369.38 and last traded at $372.1150. 2,607,237 shares changed hands during trading, a decline of 17% from the average session volume of 3,153,329 shares. The stock had previously closed at $337.13.

Analysts Set New Price Targets

Several research firms have recently commented on LITE. Mizuho boosted their price objective on Lumentum to $325.00 and gave the company an “outperform” rating in a report on Tuesday, November 25th. Morgan Stanley boosted their price target on shares of Lumentum from $190.00 to $304.00 and gave the company an “equal weight” rating in a research note on Wednesday. Citigroup began coverage on shares of Lumentum in a research note on Friday, August 29th. They issued a “buy” rating and a $165.00 price objective on the stock. Needham & Company LLC boosted their target price on shares of Lumentum to $290.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Finally, B. Riley boosted their price objective on Lumentum from $83.00 to $147.00 and gave the stock a “neutral” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $222.13.

Lumentum Stock Performance

The firm has a market cap of $26.33 billion, a PE ratio of 249.28 and a beta of 1.53. The company has a 50-day simple moving average of $251.03 and a two-hundred day simple moving average of $164.66. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 2.77.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. The company had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The firm’s quarterly revenue was up 58.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Pamela Fletcher sold 3,421 shares of the company’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $273.53, for a total transaction of $935,746.13. Following the transaction, the director owned 10,561 shares of the company’s stock, valued at $2,888,750.33. This represents a 24.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julia Suzanne Johnson sold 10,000 shares of Lumentum stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $270.39, for a total value of $2,703,900.00. Following the completion of the sale, the director directly owned 12,037 shares of the company’s stock, valued at approximately $3,254,684.43. This trade represents a 45.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,612 shares of company stock valued at $7,317,398 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Several large investors have recently modified their holdings of the business. AIA Group Ltd purchased a new stake in shares of Lumentum during the 3rd quarter valued at approximately $741,000. FNY Investment Advisers LLC raised its holdings in Lumentum by 241.0% during the 3rd quarter. FNY Investment Advisers LLC now owns 1,364 shares of the technology company’s stock valued at $221,000 after acquiring an additional 964 shares during the period. Hudson Bay Capital Management LP purchased a new stake in shares of Lumentum during the third quarter worth $3,075,000. Saranac Partners Ltd bought a new position in shares of Lumentum in the third quarter worth $130,000. Finally, Allworth Financial LP grew its position in shares of Lumentum by 6.4% in the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock valued at $128,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.