Lumentum (NASDAQ:LITE) Rating Lowered to Hold at Zacks Research

Lumentum (NASDAQ:LITE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts also recently issued reports on LITE. KGI Securities began coverage on Lumentum in a research note on Monday, August 18th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Lumentum from $145.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Barclays reaffirmed an “equal weight” rating and issued a $165.00 price objective on shares of Lumentum in a research note on Monday, October 20th. Morgan Stanley reissued a “cautious” rating on shares of Lumentum in a research note on Wednesday. Finally, UBS Group increased their price target on Lumentum from $78.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $188.36 on Monday. Lumentum has a 52 week low of $45.65 and a 52 week high of $214.50. The stock has a market capitalization of $13.36 billion, a PE ratio of 818.96 and a beta of 1.48. The company has a debt-to-equity ratio of 2.26, a quick ratio of 3.18 and a current ratio of 4.37. The stock has a 50 day moving average price of $163.44 and a 200 day moving average price of $115.37.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The business had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. During the same period in the previous year, the company earned $0.18 earnings per share. 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. Analysts predict that Lumentum will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lumentum news, SVP Jae Kim sold 4,507 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $116.88, for a total value of $526,778.16. Following the transaction, the senior vice president owned 33,465 shares of the company’s stock, valued at approximately $3,911,389.20. The trade was a 11.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Wajid Ali sold 2,526 shares of Lumentum stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $124.39, for a total value of $314,209.14. Following the sale, the chief financial officer owned 77,087 shares in the company, valued at $9,588,851.93. The trade was a 3.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,198 shares of company stock worth $2,180,887 over the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumentum

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Lumentum by 0.6% during the first quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after purchasing an additional 47,811 shares during the period. PointState Capital LP bought a new stake in Lumentum during the 1st quarter valued at $213,503,000. Hood River Capital Management LLC raised its holdings in Lumentum by 82.1% during the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after acquiring an additional 994,551 shares during the period. Atreides Management LP grew its position in shares of Lumentum by 6.8% in 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. grew its position in shares of Lumentum by 1.1% in the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after purchasing an additional 19,085 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.