Lumentum Holdings Inc. (NASDAQ:LITE) Receives $1,053.83 Average PT from Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has earned a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $1,053.8261.

Several research firms have weighed in on LITE. Weiss Ratings lowered shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Wednesday, August 19th. Wolfe Research reissued an “outperform” rating on shares of Lumentum in a research note on Friday, August 21st. Raymond James Financial restated an “outperform” rating and set a $1,036.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,300.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Finally, Mizuho upped their price target on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th.

Lumentum Stock Down 9.9%

Shares of Lumentum stock opened at $835.03 on Friday. Lumentum has a 1 year low of $144.52 and a 1 year high of $1,085.68. The company has a market cap of $74.90 billion, a P/E ratio of -10.16 and a beta of 1.53. 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 stock has a 50-day moving average price of $831.58 and a 200 day moving average price of $829.39.

Lumentum (NASDAQ:LITE) last released its 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 for 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 for the quarter was up 109.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, analysts expect that Lumentum will post 19.78 EPS for the current fiscal year.

Insider Transactions at Lumentum

In other Lumentum news, insider Yuen Wupen sold 1,500 shares of the business’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $827.82, for a total value of $1,241,730.00. Following the transaction, the insider owned 100,434 shares in the company, valued at $83,141,273.88. The trade was a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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. Also, CEO Michael Hurlston sold 548 shares of the company’s stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $958.66, for a total value of $525,345.68. Following the completion of the transaction, the chief executive officer directly owned 186,951 shares in the company, valued at approximately $179,222,445.66. The trade was a 0.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 66,147 shares of company stock worth $56,741,571. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently added to or reduced their stakes in the company. California State Teachers Retirement System increased its position in shares of Lumentum by 112,343.2% during the second quarter. California State Teachers Retirement System now owns 92,237,160 shares of the technology company’s stock valued at $79,145,018,000 after purchasing an additional 92,155,130 shares during the period. Jupiter Topco LLC bought a new position in Lumentum in the second quarter worth $1,621,396,000. Norges Bank bought a new stake in Lumentum in the 4th quarter valued at $474,495,000. Situational Awareness LP raised its stake in shares of Lumentum by 210.9% in the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in shares of Lumentum in the 4th quarter valued at $251,363,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.