Lumentum (NASDAQ:LITE) Shares Down 2.3% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) dropped 2.3% on Thursday . The company traded as low as $831.17 and last traded at $850.00. 8,277,507 shares traded hands during mid-day trading, an increase of 38% from the average session volume of 6,014,757 shares. The stock had previously closed at $869.98.

Analysts Set New Price Targets

Several analysts have commented on LITE shares. Northland Securities raised their price objective on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Rosenblatt Securities lifted their target price on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Susquehanna raised their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, April 20th. Finally, Citic Securities boosted their price objective on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Trading Down 2.3%

The stock has a market capitalization of $66.13 billion, a PE ratio of 157.41 and a beta of 1.47. The company’s 50 day moving average price is $903.17 and its two-hundred day moving average price is $644.68. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter in the prior year, the firm earned $0.57 EPS. Lumentum’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 6.4 earnings per share for the current year.

Insider Activity

In other Lumentum news, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director owned 13,959 shares of the company’s stock, valued at approximately $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This trade represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last 90 days. 0.43% of the stock is owned by insiders.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in LITE. Hilton Head Capital Partners LLC acquired a new position in Lumentum in the first quarter valued at approximately $25,000. Sachetta LLC lifted its stake in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC purchased a new stake in Lumentum in the 4th quarter valued at about $28,000. Finally, Truvestments Capital LLC boosted its stake in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the period. Institutional investors and hedge funds 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.