Lumentum (NASDAQ:LITE) Shares Gap Down – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) shares gapped down before the market opened on Wednesday . The stock had previously closed at $397.42, but opened at $378.02. Lumentum shares last traded at $379.85, with a volume of 1,201,619 shares trading hands.

Analyst Upgrades and Downgrades

LITE has been the subject of several research analyst reports. Barclays lifted their price objective on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Rosenblatt Securities boosted their price target on Lumentum to $380.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Raymond James Financial cut shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price objective on the stock. in a research note on Friday, October 31st. Mizuho boosted their target price on shares of Lumentum to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, November 25th. Finally, Northland Securities set a $350.00 target price on Lumentum in a report on Wednesday, December 3rd. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $222.13.

Lumentum Stock Performance

The company has a market cap of $26.85 billion, a PE ratio of 254.20 and a beta of 1.51. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 2.77. The business’s 50 day moving average is $306.68 and its two-hundred day moving average is $193.07.

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

Insider Buying and Selling at Lumentum

In other Lumentum news, Director Pamela Fletcher sold 3,421 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $273.53, for a total value of $935,746.13. Following the sale, the director owned 10,561 shares in the company, valued at $2,888,750.33. The trade was a 24.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Yuen Wupen sold 822 shares of the stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total transaction of $212,865.12. Following the transaction, the insider directly owned 95,077 shares of the company’s stock, valued at $24,621,139.92. This trade represents a 0.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 28,612 shares of company stock worth $7,317,398. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Several large investors have recently made changes to their positions in LITE. Arrowstreet Capital Limited Partnership increased its position in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Hood River Capital Management LLC grew its stake in shares of Lumentum by 82.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after buying an additional 994,551 shares in the last quarter. Norges Bank bought a new stake in shares of Lumentum in the 2nd quarter worth about $82,983,000. Holocene Advisors LP purchased a new stake in shares of Lumentum during the 3rd quarter valued at about $136,401,000. Finally, WT Asset Management Ltd raised its position in shares of Lumentum by 170.0% during the 3rd quarter. WT Asset Management Ltd now owns 710,208 shares of the technology company’s stock valued at $115,558,000 after buying an additional 447,208 shares in the last quarter. 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.