Lumentum (NASDAQ:LITE) Insider Sells $2,894,715.69 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $909.43, for a total value of $2,894,715.69. Following the completion of the sale, the insider owned 114,495 shares in the company, valued at approximately $104,125,187.85. The trade was a 2.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $879.28 on Friday. The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $78.87 billion, a PE ratio of -10.70 and a beta of 1.50. Lumentum Holdings Inc. has a twelve month low of $115.21 and a twelve month high of $1,085.68. The company has a 50-day moving average price of $810.86 and a two-hundred day moving average price of $789.68.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. The company 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 firm’s quarterly revenue was up 109.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 earnings per share. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities analysts forecast that Lumentum Holdings Inc. will post 16.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Stifel Nicolaus lifted their price target on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. Citic Securities increased their price objective on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Craig Hallum raised their price objective on Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Northland Securities boosted their target price on Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research report on Wednesday, August 12th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,044.67.

Institutional Investors Weigh In On Lumentum

Several institutional investors and hedge funds have recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. grew its holdings in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after acquiring an additional 114,714 shares in the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in shares of Lumentum in the 1st quarter valued at $2,046,000. Styrax Capital LP raised its holdings in shares of Lumentum by 3.6% in the 1st quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock valued at $98,386,000 after purchasing an additional 4,837 shares in the last quarter. Whittier Trust Co. lifted its position in shares of Lumentum by 21,806.5% during the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock worth $57,183,000 after purchasing an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd acquired a new position in shares of Lumentum during the fourth quarter worth $4,325,000. Hedge funds and other 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.