Lumentum (NASDAQ:LITE) Coverage Initiated by Analysts at TD Cowen

TD Cowen began coverage on shares of Lumentum (NASDAQ:LITE) in a research report report published on Thursday, MarketBeat reports. The brokerage issued a hold rating and a $675.00 price target on the technology company’s stock.

A number of other research firms also recently issued reports on LITE. Mizuho lifted 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. Citigroup upped their price target on Lumentum to $560.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. Bank of America lifted their price objective on Lumentum to $520.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their target price on Lumentum to $565.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $550.38.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $616.09 on Thursday. 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 has a one year low of $45.65 and a one year high of $783.80. The firm has a market capitalization of $43.99 billion, a P/E ratio of 188.98 and a beta of 1.38. The company’s fifty day moving average is $505.29 and its two-hundred day moving average is $325.51.

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

Insiders Place Their Bets

In other news, insider Vincent Retort sold 45,026 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the transaction, the insider owned 102,455 shares of the company’s stock, valued at $60,583,690.60. This represents a 30.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Penny Herscher sold 4,849 shares of the stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the transaction, the director owned 6,057 shares in the company, valued at approximately $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 65,775 shares of company stock valued at $38,851,343. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lumentum

Several institutional investors and hedge funds have recently bought and sold shares of LITE. EverSource Wealth Advisors LLC boosted its holdings in shares of Lumentum by 363.9% in the 3rd 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 last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the 4th quarter worth $28,000. Truvestments Capital LLC raised its position in shares of Lumentum by 300.0% in the 4th 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 in the 4th quarter worth $30,000. Finally, Danske Bank A S acquired a new position in Lumentum in the third quarter valued at $33,000. Institutional investors and hedge funds 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.