Lumentum (NASDAQ:LITE) Reaches New 1-Year High – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $688.07 and last traded at $674.73, with a volume of 4487360 shares changing hands. The stock had previously closed at $667.77.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LITE shares. Bank of America increased their target price on Lumentum to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Raymond James Financial lowered shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target for the company. in a research report on Friday, October 31st. Barclays lifted their price objective on shares of Lumentum to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. Morgan Stanley raised their price target on shares of Lumentum to $520.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Northland Securities set a $350.00 price objective on Lumentum in a research report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $458.00.

Lumentum Trading Up 5.1%

The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $441.40 and a 200-day moving average price of $284.63. The company has a market capitalization of $51.65 billion, a price-to-earnings ratio of 221.90 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter last year, the business posted $0.42 earnings per share. The company’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, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,157 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the sale, the insider directly owned 88,439 shares of the company’s stock, valued at $47,580,182. This represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the sale, the director owned 2,057 shares of the company’s stock, valued at $1,228,625.53. The trade was a 66.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 60,473 shares of company stock worth $35,186,972 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently modified their holdings of LITE. Truvestments Capital LLC boosted 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 valued at $28,000 after purchasing an additional 57 shares during the period. V Square Quantitative Management LLC purchased a new stake in Lumentum during the fourth quarter valued at about $28,000. Triumph Capital Management purchased a new stake in Lumentum during the fourth quarter valued at about $30,000. Harbour Investments Inc. raised its holdings in shares of Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after acquiring an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new stake in Lumentum during the 4th quarter valued at $37,000. 94.05% of the stock is owned by institutional investors and hedge funds.

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.