Rosenblatt Securities Reaffirms “Buy” Rating for Lumentum (NASDAQ:LITE)

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reaffirmed by equities research analysts at Rosenblatt Securities in a research report issued on Wednesday,Benzinga reports. They currently have a $900.00 price target on the technology company’s stock. Rosenblatt Securities’ target price indicates a potential upside of 38.56% from the stock’s current price.

A number of other analysts have also issued reports on LITE. TD Cowen initiated coverage on Lumentum in a report on Thursday, March 12th. They issued a “hold” rating and a $675.00 target price for the company. Northland Securities set a $350.00 price objective on Lumentum in a research note on Wednesday, December 3rd. B. Riley Financial upgraded Lumentum from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. Barclays lifted their target price on Lumentum to $750.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Finally, UBS Group upped their target price on Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $570.38.

Lumentum Stock Performance

Lumentum stock opened at $649.56 on Wednesday. Lumentum has a fifty-two week low of $45.65 and a fifty-two week high of $783.80. The firm’s 50 day simple moving average is $520.42 and its 200-day simple moving average is $338.93. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The company has a market cap of $46.38 billion, a P/E ratio of 199.25 and a beta of 1.38.

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

Insider Transactions at Lumentum

In related news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer owned 66,287 shares in the company, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the transaction, the director directly owned 2,057 shares in the company, valued at approximately $1,228,625.53. The trade was a 66.04% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 65,775 shares of company stock valued at $38,851,343 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of LITE. Truvestments Capital LLC lifted its stake in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Lumentum during the fourth quarter valued at about $28,000. Triumph Capital Management bought a new position in Lumentum during the fourth quarter valued at about $30,000. Harbour Investments Inc. lifted its position in shares of Lumentum by 675.0% in the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after buying an additional 81 shares during the last quarter. Finally, Chesapeake Asset Management LLC acquired a new stake in shares of Lumentum in the fourth quarter worth about $37,000. 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.