Lumentum (NASDAQ:LITE) CFO Sells $2,372,473.65 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 2,487 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $2,372,473.65. Following the completion of the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. This trade represents a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.

Wajid Ali also recently made the following trade(s):

• On Friday, February 27th, Wajid Ali sold 5,302 shares of Lumentum stock. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26.

Lumentum Stock Performance

LITE stock opened at $964.50 on Friday. The company has a market capitalization of $75.04 billion, a P/E ratio of 178.61 and a beta of 1.53. The company has a 50-day simple moving average of $831.67 and a 200 day simple moving average of $557.30. Lumentum Holdings Inc. has a fifty-two week low of $71.04 and a fifty-two week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01.

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

Analysts Set New Price Targets

LITE has been the subject of several recent analyst reports. Barclays increased their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a report on Wednesday, May 6th. Craig Hallum increased their price objective on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and issued a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Needham & Company LLC boosted their price objective on Lumentum from $880.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.43.

Hedge Funds Weigh In On Lumentum

Several large investors have recently made changes to their positions in LITE. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the first quarter valued at $25,000. Sachetta LLC increased its holdings in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lumentum in the fourth quarter valued at $28,000. Finally, Truvestments Capital LLC increased its holdings in shares of Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Lumentum was added to the Nasdaq-100, which can trigger buying from index funds and ETFs while increasing visibility with institutional investors.
• Positive Sentiment: Broker-rating upgrades and bullish commentary have reinforced the view that AI infrastructure demand remains a major long-term tailwind for LITE.
• Positive Sentiment: Zacks and other momentum-focused coverage placed Lumentum on strong-buy and top momentum lists, signaling continued Wall Street enthusiasm.
• Positive Sentiment: REX Shares launched a leveraged 2x long LITE ETF, which can add trading interest and speculative demand for the shares.
• Neutral Sentiment: Several insider sales were disclosed, but they were pre-planned 10b5-1 transactions tied to equity vesting and tax withholding, making them less concerning from a fundamental standpoint.
• Neutral Sentiment: Recent articles also noted Lumentum’s strong earnings growth and raised guidance, which support the bull case but were already well known from the company’s latest quarterly report.
• Negative Sentiment: Some investors may still be taking profits after Lumentum’s sharp run-up, and that has weighed on sentiment in parts of the AI optics sector.

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.