Lumentum’s (LITE) “Buy” Rating Reaffirmed at Rosenblatt Securities

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reaffirmed by equities researchers at Rosenblatt Securities in a research note issued to investors on Monday, Benzinga reports. They currently have a $1,300.00 price objective on the technology company’s stock. Rosenblatt Securities’ price target indicates a potential upside of 17.00% from the company’s previous close.

A number of other equities research analysts also recently weighed in on LITE. Stifel Nicolaus lifted their target price on Lumentum from $1,100.00 to $1,232.00 and gave the stock a “buy” rating in a research report on Monday. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price objective on shares of Lumentum in a research report on Wednesday, August 12th. UBS Group set a $820.00 price objective on Lumentum in a report on Wednesday, August 12th. TD Cowen boosted their price objective on Lumentum from $800.00 to $820.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft began coverage on Lumentum in a research report on Monday, August 31st. They issued a “buy” rating and a $1,200.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $1,078.75.

Lumentum Stock Performance

Shares of LITE traded down $22.33 during mid-day trading on Monday, hitting $1,111.07. The company’s stock had a trading volume of 3,369,083 shares, compared to its average volume of 5,497,586. The stock’s 50-day moving average is $898.61 and its two-hundred day moving average is $863.51. The firm has a market capitalization of $99.66 billion, a PE ratio of -13.52 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. Lumentum has a one year low of $147.81 and a one year high of $1,137.20.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, sell-side analysts anticipate that Lumentum will post 19.78 EPS for the current year.

Insider Buying and Selling at Lumentum

In other news, CFO Wajid Ali sold 24,542 shares of the business’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the sale, the chief financial officer owned 75,074 shares in the company, valued at approximately $78,715,089. The trade was a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction dated Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total transaction of $290,115.00. Following the completion of the sale, the insider directly owned 108,320 shares in the company, valued at approximately $102,362,400. The trade was a 0.28% decrease in their position. 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 ninety days, insiders sold 94,496 shares of company stock worth $85,978,498. 0.43% of the stock is owned by insiders.

Institutional Trading of Lumentum

Large investors have recently added to or reduced their stakes in the company. CYBER HORNET ETFs LLC boosted its position in shares of Lumentum by 7.2% during the second quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after buying an additional 14 shares during the period. Hilltop National Bank raised its position in Lumentum by 26.8% in the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after buying an additional 15 shares during the last quarter. Sachetta LLC lifted its stake in 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 acquiring an additional 19 shares in the last quarter. Toth Financial Advisory Corp lifted its stake in Lumentum by 127.3% in the 2nd quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock valued at $43,000 after acquiring an additional 28 shares in the last quarter. Finally, Burkett Financial Services LLC acquired a new position in Lumentum during the 3rd quarter worth approximately $28,000. 94.05% of the stock is owned by institutional investors.

About Lumentum

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.