Lumentum (NASDAQ:LITE) Shares Up 2.8% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price shot up 2.8% during trading on Monday . The stock traded as high as $1,004.94 and last traded at $976.18. 5,400,357 shares traded hands during trading, a decline of 8% from the average session volume of 5,896,902 shares. The stock had previously closed at $949.93.

Wall Street Analyst Weigh In

Several research firms have commented on LITE. Citigroup raised their target price on shares of Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Stifel Nicolaus raised their target price on shares of Lumentum to $800.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. TD Cowen raised their target price on shares of Lumentum from $675.00 to $875.00 and gave the company a “hold” rating in a research note on Friday, April 10th. UBS Group increased their price target on Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Finally, Morgan Stanley increased their price target on Lumentum from $595.00 to $710.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Eleven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $757.25.

Lumentum Stock Performance

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 company’s 50-day moving average price is $760.12 and its two-hundred day moving average price is $486.41. The company has a market cap of $69.70 billion, a P/E ratio of 299.44 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company’s revenue was up 65.5% compared to the same quarter last year. During the same period last year, the company posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 5.87 earnings per share for the current year.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the transaction, the insider directly owned 102,455 shares in the company, valued at $60,583,690.60. This trade represents a 30.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Penny Herscher sold 4,849 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the completion of the transaction, the director owned 6,057 shares of the company’s stock, valued at approximately $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 65,775 shares of company stock valued at $38,851,343. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Hedge funds and other institutional investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum during the first quarter worth approximately $25,000. Sachetta LLC boosted its holdings in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the period. EverSource Wealth Advisors LLC boosted its holdings in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares during the period. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the fourth quarter worth approximately $28,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares during the period. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.