Lumentum (NASDAQ:LITE) Given Buy Rating at Rosenblatt Securities

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reissued by equities research analysts at Rosenblatt Securities in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $900.00 price objective on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 38.56% from the stock’s previous close.

Several other research analysts also recently commented on the stock. Northland Securities set a $350.00 target price on shares of Lumentum in a report on Wednesday, December 3rd. Zacks Research upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Morgan Stanley raised their price target on Lumentum to $520.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Stifel Nicolaus boosted their price objective on Lumentum to $800.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Mizuho raised their target price on Lumentum to $645.00 and gave the company an “outperform” rating in a report on Tuesday, February 17th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and an average target price of $570.38.

Lumentum Stock Up 4.0%

Shares of Lumentum stock opened at $649.56 on Wednesday. Lumentum has a 12-month low of $45.65 and a 12-month high of $783.80. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $520.42 and a two-hundred day moving average price of $338.93. The stock has a market capitalization of $46.38 billion, a P/E ratio of 199.25 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same quarter last year, the firm posted $0.42 earnings per share. The company’s quarterly revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities analysts expect that Lumentum will post 0.03 earnings per share for the current year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the sale, the chief financial officer directly owned 66,287 shares in the company, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Penny Herscher sold 4,849 shares of the company’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares of the company’s stock, valued at $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 65,775 shares of company stock worth $38,851,343. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

A number of institutional investors have recently bought and sold shares of LITE. EverSource Wealth Advisors LLC increased its holdings in Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Lumentum during the 4th quarter worth about $28,000. Truvestments Capital LLC boosted its position in shares of Lumentum by 300.0% during the 4th 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. Triumph Capital Management acquired a new stake in shares of Lumentum during the 4th quarter valued at about $30,000. Finally, Danske Bank A S bought a new stake in Lumentum in the third quarter valued at about $33,000. Institutional investors and hedge funds 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.