Lumentum (NASDAQ:LITE) Hits New 1-Year High – Still a Buy?

Lumentum Holdings Inc. (NASDAQ:LITE)’s stock price reached a new 52-week high on Monday . The stock traded as high as $386.29 and last traded at $382.8980, with a volume of 512310 shares changing hands. The stock had previously closed at $371.43.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Susquehanna upped their price objective on shares of Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised their price objective on shares of Lumentum from $145.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 2nd. Northland Securities set a $350.00 target price on Lumentum in a report on Wednesday, December 3rd. Finally, Wall Street Zen cut Lumentum from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average target price of $222.13.

Lumentum Stock Down 0.6%

The stock’s 50 day simple moving average is $264.67 and its two-hundred day simple moving average is $172.27. The firm has a market cap of $27.47 billion, a P/E ratio of 260.01 and a beta of 1.53. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The company had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s revenue for the quarter was up 58.4% on a year-over-year basis. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Transactions at Lumentum

In other Lumentum news, SVP Jae Kim sold 1,367 shares of Lumentum stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $234.14, for a total value of $320,069.38. Following the completion of the transaction, the senior vice president directly owned 38,570 shares of the company’s stock, valued at approximately $9,030,779.80. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew Joseph Sepe sold 4,232 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $239.63, for a total transaction of $1,014,114.16. Following the completion of the transaction, the chief accounting officer owned 43,544 shares in the company, valued at approximately $10,434,448.72. This represents a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,612 shares of company stock worth $7,317,398 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently added to or reduced their stakes in LITE. Vanguard Group Inc. lifted its position in Lumentum by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares in the last quarter. PointState Capital LP purchased a new position in shares of Lumentum in the first quarter worth $213,503,000. Hood River Capital Management LLC lifted its holdings in shares of Lumentum by 82.1% during the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Atreides Management LP lifted its holdings in shares of Lumentum by 6.8% during the first quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock valued at $116,904,000 after purchasing an additional 119,938 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Lumentum by 1.1% during the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after buying an additional 19,085 shares during the last quarter. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.