Lumentum (NASDAQ:LITE) Hits New 12-Month High – Should You Buy?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $603.83 and last traded at $590.4350, with a volume of 1384769 shares traded. The stock had previously closed at $574.11.

Analysts Set New Price Targets

LITE has been the topic of a number of research analyst reports. Needham & Company LLC raised their price target on Lumentum to $550.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their target price on shares of Lumentum to $480.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Citigroup boosted their price target on shares of Lumentum to $560.00 and gave the stock a “buy” rating in a research report on Thursday, February 5th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and increased their price objective for the company from $147.00 to $526.00 in a report on Wednesday, February 4th. Finally, B.Riley Securit upgraded shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $444.94.

Lumentum Trading Up 2.6%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The firm has a market capitalization of $42.05 billion, a P/E ratio of 180.87 and a beta of 1.51. The firm has a 50 day moving average price of $383.45 and a two-hundred day moving average price of $248.31.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum’s revenue was up 65.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 822 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total transaction of $212,865.12. Following the sale, the insider directly owned 95,077 shares of the company’s stock, valued at $24,621,139.92. The trade was a 0.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Penny Herscher sold 4,849 shares of the stock in a transaction on Friday, February 6th. The shares were sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the sale, the director owned 6,057 shares of the company’s stock, valued at $3,243,402.36. The trade was a 44.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 12,029 shares of company stock worth $4,444,022 over the last three months. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC increased its holdings in shares of Lumentum by 16.0% in the 4th quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock valued at $120,000 after purchasing an additional 45 shares during the period. Allworth Financial LP grew its position in Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock valued at $128,000 after purchasing an additional 47 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in Lumentum by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock valued at $5,208,000 after buying an additional 60 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its position in Lumentum by 0.4% in the 3rd quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock worth $2,532,000 after buying an additional 64 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in shares of Lumentum by 9.6% during the 4th quarter. IFP Advisors Inc now owns 822 shares of the technology company’s stock valued at $303,000 after buying an additional 72 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.