Lumentum (NASDAQ:LITE) Trading 4.3% Higher – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) shot up 4.3% during trading on Thursday . The stock traded as high as $890.80 and last traded at $889.59. 4,627,964 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 6,024,652 shares. The stock had previously closed at $853.26.

Analyst Ratings Changes

Several equities analysts have recently issued reports on LITE shares. Citic Securities upped their price target on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Morgan Stanley lifted their price objective on Lumentum from $710.00 to $900.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Citigroup boosted their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. UBS Group upped their target price on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday, May 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $1,014.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,021.95.

Lumentum Stock Performance

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 market cap of $69.21 billion, a price-to-earnings ratio of 164.74 and a beta of 1.47. The stock has a 50 day moving average price of $890.77 and a two-hundred day moving average price of $623.20.

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

Insider Activity at Lumentum

In other news, insider Yuen Wupen sold 3,210 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the sale, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. This represents a 3.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available 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. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is owned by company insiders.

Institutional Investors Weigh In On Lumentum

Several hedge funds have recently bought and sold shares of the company. Parallel Advisors LLC boosted its position in shares of Lumentum by 71.8% during the first quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock worth $394,000 after purchasing an additional 234 shares in the last quarter. Caerus Investment Advisors LLC bought a new stake in shares of Lumentum in the 1st quarter valued at $346,000. Concorde Asset Management LLC bought a new stake in shares of Lumentum in the 1st quarter valued at $212,000. Glenmede Trust Co. NA raised its stake in Lumentum by 39.2% during the 1st quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company’s stock worth $1,065,000 after buying an additional 427 shares during the period. Finally, Essential Partners LLC raised its stake in Lumentum by 590.3% during the 1st quarter. Essential Partners LLC now owns 214 shares of the technology company’s stock worth $150,000 after buying an additional 183 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.