Lumentum (NASDAQ:LITE) Trading Down 4.1% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) traded down 4.1% on Monday . The company traded as low as $791.00 and last traded at $793.2860. 1,661,920 shares were traded during trading, a decline of 72% from the average session volume of 5,947,013 shares. The stock had previously closed at $826.88.

Analyst Ratings Changes

A number of research firms have recently issued reports on LITE. TD Cowen assumed coverage on Lumentum in a report on Thursday, March 12th. They issued a “hold” rating and a $675.00 price objective for the company. Bank of America upped their target price on Lumentum to $520.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 4th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 4th. UBS Group upped their price objective on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $900.00 target price on shares of Lumentum in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $575.06.

Lumentum Trading Down 6.7%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The firm has a 50-day moving average of $622.91 and a 200-day moving average of $392.93. The firm has a market capitalization of $55.10 billion, a P/E ratio of 238.24 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The business’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. On average, equities research analysts anticipate that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In related news, insider Vincent Retort sold 3,441 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the sale, the insider directly owned 95,975 shares of the company’s stock, valued at $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Wajid Ali sold 5,302 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at $45,812,934.31. The trade was a 7.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,775 shares of company stock worth $38,851,343 in the last quarter. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Hedge funds and other institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC lifted its stake in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the period. V Square Quantitative Management LLC bought a new position in Lumentum in the 4th quarter worth $28,000. Triumph Capital Management purchased a new stake in shares of Lumentum in the 4th quarter worth about $30,000. Harbour Investments Inc. lifted its position in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after purchasing an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC bought a new stake in shares of Lumentum during the 4th quarter valued at about $37,000. Institutional investors 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.