Lumentum Holdings Inc. (NASDAQ:LITE) Given Average Recommendation of “Moderate Buy” by Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $1,021.9524.

Several equities analysts have recently weighed in on LITE shares. Jefferies Financial Group reissued a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. JPMorgan Chase & Co. lifted their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a report on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Citic Securities increased their price target on shares of Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Finally, Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $728.32 on Monday. Lumentum has a 12 month low of $88.93 and a 12 month high of $1,085.68. The stock has a 50 day moving average of $892.56 and a 200-day moving average of $683.79. 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 capitalization of $56.66 billion, a P/E ratio of 134.87 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same quarter last year, the firm posted $0.57 EPS. The company’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts predict that Lumentum will post 6.4 EPS for the current year.

Insider Buying and Selling

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. This trade represents a 32.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Lillie sold 11,951 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $981.64, for a total value of $11,731,579.64. Following the transaction, the director owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 41,260 shares of company stock valued at $38,859,220 in the last ninety days. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its position in shares of Lumentum by 45.0% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock valued at $136,306,000 after buying an additional 114,714 shares in the last quarter. Andar Capital Management HK Ltd acquired a new stake in Lumentum during the fourth quarter worth approximately $4,325,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Lumentum during the fourth quarter worth approximately $6,755,000. Maxi Investments CY Ltd bought a new position in Lumentum during the 4th quarter worth $2,212,000. Finally, Estate Counselors LLC bought a new position in Lumentum during the 4th quarter worth $4,239,000. 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.