Lumentum (NASDAQ:LITE) Stock Price Up 10% – Time to Buy?

Lumentum Holdings Inc. (NASDAQ:LITE) shares traded up 10% during mid-day trading on Tuesday . The stock traded as high as $803.58 and last traded at $801.99. 6,895,470 shares changed hands during mid-day trading, an increase of 16% from the average session volume of 5,956,654 shares. The stock had previously closed at $728.95.

Analyst Upgrades and Downgrades

A number of research firms have commented on LITE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a research report on Monday, December 29th. Mizuho boosted their price target on shares of Lumentum to $645.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Northland Securities set a $350.00 target price on shares of Lumentum in a research report on Wednesday, December 3rd. Morgan Stanley increased their price objective on Lumentum to $595.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $900.00 price objective on shares of Lumentum in a report on Wednesday, March 18th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Price Performance

The stock’s 50 day simple moving average is $549.93 and its 200 day simple moving average is $355.60. The firm has a market capitalization of $57.26 billion, a P/E ratio of 246.01 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61.

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

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Yuen Wupen sold 3,157 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the transaction, the insider directly owned 88,439 shares in the company, valued at $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new position in Lumentum in the fourth quarter worth approximately $28,000. Truvestments Capital LLC boosted its position 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 purchasing an additional 57 shares during the period. Triumph Capital Management bought a new position in Lumentum in the 4th quarter worth approximately $30,000. Finally, Danske Bank A S bought a new stake in shares of Lumentum in the 3rd quarter worth approximately $33,000. 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.