Lumentum (NASDAQ:LITE) Trading 4.6% Higher – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price rose 4.6% during mid-day trading on Monday . The stock traded as high as $999.68 and last traded at $968.90. Approximately 5,327,656 shares traded hands during trading, a decline of 7% from the average session volume of 5,743,743 shares. The stock had previously closed at $926.14.

Analyst Ratings Changes

Several brokerages have recently weighed in on LITE. Raymond James Financial reissued an “outperform” rating and set a $1,036.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. BNP Paribas Exane upped their price target on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $1,044.67.

Lumentum Price Performance

The company has a current ratio of 1.68, a quick ratio of 1.40 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $75.38 billion, a PE ratio of -11.79 and a beta of 1.50. The company has a fifty day moving average price of $809.08 and a two-hundred day moving average price of $775.45.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 positive return on equity of 26.34% and a negative net margin of 230.15%.The business’s revenue was up 109.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts forecast that Lumentum Holdings Inc. will post 16.97 earnings per share for the current year.

Insider Activity at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of Lumentum stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,370 shares of company stock valued at $9,156,532 over the last three months. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new position in Lumentum in the first quarter valued at $25,000. Sachetta LLC boosted its stake in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the period. Truvestments Capital LLC boosted its stake in shares of 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 buying an additional 57 shares during the period. Triumph Capital Management purchased a new position in shares of Lumentum during the fourth quarter worth about $30,000. Finally, Danske Bank A S purchased a new position in shares of Lumentum during the third quarter worth about $33,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.