Lumentum (NASDAQ:LITE) Shares Up 1.2% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) was up 1.2% on Wednesday . The company traded as high as $719.12 and last traded at $707.10. Approximately 2,572,510 shares traded hands during trading, a decline of 57% from the average session volume of 5,917,500 shares. The stock had previously closed at $698.91.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LITE shares. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Stifel Nicolaus boosted their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. UBS Group increased their price target on Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Citic Securities raised their price objective on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, Susquehanna boosted their price objective on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, April 20th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Trading Up 1.2%

The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock’s 50 day moving average is $886.59 and its 200-day moving average is $691.84. The company has a market cap of $55.01 billion, a PE ratio of 130.94 and a beta of 1.48.

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

Insider Buying and Selling

In other Lumentum news, CFO Wajid Ali sold 2,487 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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. Also, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. The trade was a 16.86% 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. Insiders sold 41,260 shares of company stock valued at $38,859,220 over the last quarter. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lumentum

A number of large investors have recently made changes to their positions in LITE. Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after acquiring an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd acquired a new position in shares of Lumentum during the 4th quarter worth approximately $4,325,000. Whittier Trust Co. grew its position in shares of Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after purchasing an additional 73,706 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Lumentum in the fourth quarter valued at approximately $6,755,000. Finally, Maxi Investments CY Ltd acquired a new stake in shares of Lumentum in the fourth quarter valued at approximately $2,212,000. 94.05% of the stock is owned by hedge funds and other 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.