Lumentum (NASDAQ:LITE) Trading 4.5% Higher – What’s Next?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) shot up 4.5% on Monday . The stock traded as high as $801.80 and last traded at $765.55. Approximately 4,403,399 shares changed hands during trading, a decline of 24% from the average daily volume of 5,820,916 shares. The stock had previously closed at $732.82.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. B. Riley Financial reiterated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and an average price target of $1,012.67.

Lumentum Stock Up 4.5%

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 has a market cap of $59.56 billion, a price-to-earnings ratio of 141.77 and a beta of 1.48. The business’s fifty day moving average is $865.06 and its two-hundred day moving average is $713.14.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the transaction, the director owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lumentum

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hilltop National Bank grew its holdings in shares of Lumentum by 26.8% during the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after purchasing an additional 15 shares during the period. Sachetta LLC raised its holdings in Lumentum by 118.8% in 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. Versant Capital Management Inc lifted its position in Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after buying an additional 30 shares in the last quarter. Hilton Head Capital Partners LLC acquired a new position in Lumentum during the first quarter valued at approximately $25,000. Finally, Abel Hall LLC grew its stake in Lumentum by 5.5% during the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors 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.