Lumentum (NASDAQ:LITE) Sets New 1-Year High After Analyst Upgrade

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price reached a new 52-week high during mid-day trading on Friday after Morgan Stanley raised their price target on the stock from $304.00 to $350.00. Morgan Stanley currently has an equal weight rating on the stock. Lumentum traded as high as $446.28 and last traded at $421.9810, with a volume of 1217098 shares trading hands. The stock had previously closed at $381.44.

A number of other equities analysts have also recently commented on LITE. Needham & Company LLC raised their target price on Lumentum to $290.00 and gave the stock a “buy” rating in a report on Monday, November 24th. Susquehanna raised their price objective on shares of Lumentum from $230.00 to $420.00 and gave the company a “positive” rating in a research report on Thursday, January 22nd. Stifel Nicolaus lifted their target price on shares of Lumentum from $220.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. Finally, Mizuho set a $455.00 price target on Lumentum in a report on Friday, January 9th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $288.06.

Insider Activity

In related news, SVP Jae Kim sold 170 shares of the firm’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $246.00, for a total value of $41,820.00. Following the completion of the sale, the senior vice president directly owned 38,400 shares in the company, valued at $9,446,400. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Isaac Hosojiro Harris sold 7,200 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the completion of the sale, the director owned 9,764 shares of the company’s stock, valued at $2,375,776.48. This trade represents a 42.44% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 28,612 shares of company stock worth $7,317,398. 0.43% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. boosted its position in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares during the period. NewEdge Advisors LLC raised its stake 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 in the last quarter. Empowered Funds LLC boosted its holdings in shares of Lumentum by 9.1% in the first 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 period. Public Employees Retirement System of Ohio grew its stake in Lumentum by 1.4% in the second quarter. Public Employees Retirement System of Ohio now owns 22,304 shares of the technology company’s stock worth $2,120,000 after purchasing an additional 310 shares in the last quarter. Finally, Signaturefd LLC grew its stake in Lumentum by 16.4% in the second quarter. Signaturefd LLC now owns 1,582 shares of the technology company’s stock worth $150,000 after purchasing an additional 223 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a fifty day simple moving average of $348.01 and a 200 day simple moving average of $222.45. The company has a market capitalization of $29.33 billion, a PE ratio of 276.19 and a beta of 1.51.

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