Lumentum Holdings Inc. (NASDAQ:LITE) Receives $1,044.67 Consensus PT from Analysts

Lumentum Holdings Inc. (NASDAQ:LITE) has been given an average recommendation of “Moderate Buy” by the twenty ratings firms that are currently covering the stock, Marketbeat.com reports. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $1,044.6667.

A number of research firms have issued reports on LITE. Raymond James Financial reiterated an “outperform” rating and set a $1,036.00 target price on shares of Lumentum in a report on Wednesday, August 12th. TD Cowen raised their price target on shares of Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Citigroup reiterated a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Morgan Stanley boosted their price objective on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. Finally, Mizuho increased their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a report on Wednesday, August 12th.

Lumentum Stock Performance

Shares of LITE stock opened at $879.28 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The company has a market capitalization of $78.87 billion, a P/E ratio of -10.70 and a beta of 1.50. The company’s 50 day moving average price is $810.86 and its two-hundred day moving average price is $789.68. Lumentum has a 52 week low of $115.21 and a 52 week high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same quarter in the prior year, the company earned $0.88 earnings per share. The business’s quarterly revenue was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, analysts expect that Lumentum will post 16.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $2,894,715.69. Following the sale, the insider owned 114,495 shares of the company’s stock, valued at approximately $104,125,187.85. The trade was a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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, Director Isaac Hosojiro Harris sold 1,416 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the sale, the director owned 6,984 shares in the company, valued at $6,984,558.72. The trade was a 16.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 9,965 shares of company stock valued at $8,993,110 in the last three months. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Jupiter Topco LLC bought a new stake in shares of Lumentum during the second quarter worth approximately $1,621,396,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the period. Norges Bank bought a new position in shares of Lumentum during the fourth quarter worth approximately $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in Lumentum during the 4th quarter worth approximately $432,062,000. Finally, Situational Awareness LP lifted its holdings in Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares during the last quarter. 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.