Lumentum’s (LITE) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Lumentum (NASDAQ:LITE) in a report published on Monday morning,Benzinga reports. They currently have a $1,300.00 price objective on the technology company’s stock.

LITE has been the subject of several other research reports. Mizuho lifted their price target on Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 12th. Evercore began coverage on Lumentum in a research report on Monday, August 31st. They set an “outperform” rating and a $1,100.00 price objective on the stock. UBS Group set a $820.00 price target on shares of Lumentum in a research note on Wednesday, August 12th. Wolfe Research reiterated an “outperform” rating on shares of Lumentum in a report on Friday, August 21st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 target price on shares of Lumentum in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and an average price target of $1,078.75.

Lumentum Stock Performance

Lumentum stock opened at $1,111.07 on Monday. The firm’s fifty day moving average price is $908.79 and its 200-day moving average price is $865.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a market cap of $99.66 billion, a P/E ratio of -13.52 and a beta of 1.53. Lumentum has a fifty-two week low of $147.81 and a fifty-two week high of $1,137.20.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same period in the previous year, the firm posted $0.88 EPS. The firm’s revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts expect that Lumentum will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, insider Yuen Wupen sold 307 shares of the company’s stock in a transaction dated Tuesday, September 29th. The shares were sold at an average price of $945.00, for a total value of $290,115.00. Following the sale, the insider directly owned 108,320 shares of the company’s stock, valued at $102,362,400. This represents a 0.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of the stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction of $25,732,287.00. Following the completion of the transaction, the chief financial officer owned 75,074 shares of the company’s stock, valued at approximately $78,715,089. The trade was a 24.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 94,496 shares of company stock worth $85,978,498. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Lumentum

Hedge funds have recently bought and sold shares of the business. Burkett Financial Services LLC purchased a new position in shares of Lumentum during the third quarter valued at approximately $28,000. Hilton Head Capital Partners LLC purchased a new stake in shares of Lumentum in the 1st quarter worth approximately $25,000. Sachetta LLC grew its stake in shares of Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Meeder Asset Management Inc. bought a new position in Lumentum during the 2nd quarter valued at approximately $40,000. Finally, Keating Financial Advisory Services Inc. bought a new position in Lumentum during the 2nd quarter valued at approximately $41,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.