Lumentum Holdings Inc. (NASDAQ:LITE) Receives $1,021.95 Consensus Target Price from Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $1,021.9524.

Several analysts have issued reports on the stock. TD Cowen increased their target price on shares of Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research note on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $1,200.00 price target on shares of Lumentum in a report on Wednesday, May 6th. Barclays increased their price objective on Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Rosenblatt Securities lifted their price objective on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Finally, Susquehanna boosted their target price on Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a research report on Monday, April 20th.

Insider Activity

In related news, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $1,356,516.90. Following the transaction, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, insider Vincent Retort sold 3,183 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 41,260 shares of company stock worth $38,859,220. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

A number of hedge funds and other institutional investors have recently bought and sold shares of LITE. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lumentum by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after acquiring an additional 291,591 shares during the last quarter. Geode Capital Management LLC increased its stake in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after acquiring an additional 123,265 shares during the last quarter. Situational Awareness LP raised its position in Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Norges Bank purchased a new stake in Lumentum during the fourth quarter valued at about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in Lumentum during the fourth quarter worth about $432,062,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

LITE stock opened at $728.32 on Monday. The stock has a 50-day simple moving average of $892.56 and a two-hundred day simple moving average of $686.25. Lumentum has a twelve month low of $88.93 and a twelve month high of $1,085.68. The firm has a market capitalization of $56.66 billion, a PE ratio of 134.87 and a beta of 1.48. 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 announced its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million for 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 revenue for the quarter was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts predict that Lumentum will post 6.4 EPS for the current fiscal year.

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.