Lumentum (NASDAQ:LITE) Price Target Raised to $930.00

Lumentum (NASDAQ:LITE) had its price objective hoisted by Mizuho from $750.00 to $930.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Mizuho’s price objective points to a potential upside of 14.01% from the stock’s previous close.

Other analysts have also recently issued reports about the company. TD Cowen assumed coverage on Lumentum in a report on Thursday, March 12th. They set a “hold” rating and a $675.00 price objective on the stock. 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. Morgan Stanley upped their price target on shares of Lumentum to $595.00 and gave the company an “equal weight” rating in a research note on Wednesday, March 18th. UBS Group increased their price objective on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus target price of $592.88.

Lumentum Stock Up 5.6%

LITE opened at $815.75 on Wednesday. The stock has a market cap of $58.24 billion, a price-to-earnings ratio of 250.23 and a beta of 1.38. 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’s fifty day moving average is $640.61 and its 200 day moving average is $401.71. Lumentum has a fifty-two week low of $48.51 and a fifty-two week high of $836.91.

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

Insider Buying and Selling

In related news, CFO Wajid Ali sold 5,302 shares of Lumentum stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the completion of the sale, the insider directly owned 88,439 shares in the company, valued at $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,775 shares of company stock valued at $38,851,343 in the last three months. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Lumentum during the fourth quarter valued at $28,000. Truvestments Capital LLC increased its holdings in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares in the last quarter. Triumph Capital Management acquired a new stake in Lumentum during the fourth quarter valued at $30,000. Finally, Danske Bank A S purchased a new position in Lumentum in the third quarter valued at $33,000. Institutional investors 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.