Lumentum (NASDAQ:LITE) Receives Buy Rating from Needham & Company LLC

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They currently have a $1,040.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 16.15% from the company’s previous close.

Several other analysts have also recently weighed in on LITE. BNP Paribas Exane lifted their price objective on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. UBS Group upped their target price on Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citigroup upped their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Finally, Mizuho set a $1,100.00 price target on Lumentum in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Up 3.7%

Shares of NASDAQ:LITE opened at $895.40 on Tuesday. The stock’s 50-day moving average price is $884.42 and its 200-day moving average price is $614.94. Lumentum has a 12-month low of $80.39 and a 12-month high of $1,085.68. The stock has a market capitalization of $69.66 billion, a P/E ratio of 165.82 and a beta of 1.47. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts anticipate that Lumentum will post 6.49 earnings per share for the current year.

Insider Activity

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the transaction, the director owned 8,400 shares in the company, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the sale, the insider directly owned 81,488 shares in the company, valued at $77,735,477.60. The trade was a 3.79% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum during the first quarter valued at approximately $25,000. Sachetta LLC boosted its position in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares during the period. Wiser Advisor Group LLC raised its stake in shares of Lumentum by 6,000.0% during the first quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after acquiring an additional 60 shares in the last quarter. SJS Investment Consulting Inc. raised its stake in shares of Lumentum by 687.5% during the first quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after acquiring an additional 55 shares in the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.