Lumentum (NASDAQ:LITE) Reaches New 12-Month High on Analyst Upgrade

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) reached a new 52-week high on Monday after Citic Securities raised their price target on the stock from $620.00 to $1,186.00. The company traded as high as $1,072.70 and last traded at $1,061.4340, with a volume of 5711970 shares trading hands. The stock had previously closed at $903.80.

A number of other research analysts also recently weighed in on LITE. BNP Paribas Exane raised their price target on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Northland Securities set a $1,000.00 price target on Lumentum in a research note on Monday, April 20th. Zacks Research downgraded Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Finally, UBS Group raised their price objective on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,012.43.

Insiders Place Their Bets

In other news, Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $597.29, for a total value of $2,389,160.00. Following the completion of the sale, the director directly owned 2,057 shares of the company’s stock, valued at $1,228,625.53. This trade represents a 66.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the sale, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 60,926 shares of company stock valued at $36,254,801. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Several hedge funds have recently added to or reduced their stakes in the company. Sachetta LLC lifted its holdings in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in Lumentum during the 1st quarter worth approximately $25,000. Abel Hall LLC lifted its holdings in Lumentum by 5.5% during the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after purchasing an additional 36 shares during the last quarter. Checchi Capital Advisers LLC lifted its holdings in Lumentum by 5.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock worth $555,000 after purchasing an additional 38 shares during the last quarter. Finally, 180 Wealth Advisors LLC raised its holdings in Lumentum by 2.9% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock valued at $1,092,000 after acquiring an additional 44 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

The stock has a market capitalization of $82.78 billion, a price-to-earnings ratio of 197.05 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The company has a fifty day simple moving average of $776.13 and a two-hundred day simple moving average of $502.93.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 5.95 earnings per share for the current fiscal 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.