Lumentum (NASDAQ:LITE) Trading Down 4.6% – Here’s What Happened

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) were down 4.6% on Thursday . The company traded as low as $854.52 and last traded at $860.62. Approximately 6,027,948 shares were traded during mid-day trading, an increase of 1% from the average daily volume of 5,966,197 shares. The stock had previously closed at $902.31.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on LITE shares. Morgan Stanley increased their price target on Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a research note on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a research note on Friday, May 1st. Loop Capital increased their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Finally, Needham & Company LLC increased their price target on Lumentum from $880.00 to $1,040.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.

Lumentum Price Performance

The firm has a market cap of $66.96 billion, a price-to-earnings ratio of 159.37 and a beta of 1.53. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The company has a 50 day moving average of $855.10 and a 200 day moving average of $577.35.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the sale, the director owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This trade represents a 19.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 41,146 shares of company stock worth $37,667,478 in the last three months. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Lumentum

A number of large investors have recently added to or reduced their stakes in LITE. Advisors Asset Management Inc. increased its holdings in Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock worth $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its holdings in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after purchasing an additional 6,275 shares in the last quarter. Empowered Funds LLC increased its holdings in Lumentum by 9.1% during the 1st quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after purchasing an additional 680 shares in the last quarter. Hsbc Holdings PLC bought a new position in Lumentum during the 2nd quarter worth about $298,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Lumentum during the 2nd quarter worth about $1,712,000. Institutional investors own 94.05% of the company’s stock.

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.