Lumentum (NASDAQ:LITE) Shares Down 6.5% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) was down 6.5% during mid-day trading on Monday . The stock traded as low as $373.00 and last traded at $365.3480. Approximately 625,635 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 3,130,541 shares. The stock had previously closed at $390.77.

Analysts Set New Price Targets

A number of analysts have commented on LITE shares. Needham & Company LLC lifted their price target on Lumentum to $290.00 and gave the stock a “buy” rating in a research report on Monday, November 24th. Barclays lifted their target price on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, November 6th. Rosenblatt Securities increased their price target on shares of Lumentum to $380.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Northland Securities set a $350.00 price objective on shares of Lumentum in a report on Wednesday, December 3rd. Finally, Raymond James Financial cut shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 target price for the company. in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $222.13.

Lumentum Stock Performance

The stock has a market capitalization of $26.32 billion, a price-to-earnings ratio of 249.12 and a beta of 1.52. The company has a debt-to-equity ratio of 2.77, a quick ratio of 1.02 and a current ratio of 1.37. The firm’s 50 day moving average is $287.09 and its 200-day moving average is $182.94.

Lumentum (NASDAQ:LITE) last released 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 net margin of 6.11% and a return on equity of 4.62%. The company had revenue of $533.80 million during the quarter, compared to analysts’ expectations of $525.10 million. During the same quarter 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 forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lumentum news, Director Pamela Fletcher sold 3,421 shares of the stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $273.53, for a total transaction of $935,746.13. Following the transaction, the director directly owned 10,561 shares of the company’s stock, valued at $2,888,750.33. This trade represents a 24.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Yuen Wupen sold 822 shares of the company’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $258.96, for a total transaction of $212,865.12. Following the transaction, the insider owned 95,077 shares of the company’s stock, valued at approximately $24,621,139.92. This trade represents a 0.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 28,612 shares of company stock valued at $7,317,398 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in Lumentum by 6.4% in the 3rd 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. Northwestern Mutual Investment Management Company LLC raised its position in shares of Lumentum by 0.4% in the third quarter. Northwestern Mutual Investment Management Company LLC now owns 15,559 shares of the technology company’s stock valued at $2,532,000 after buying an additional 64 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Lumentum by 11.2% in the third quarter. UMB Bank n.a. now owns 920 shares of the technology company’s stock worth $150,000 after buying an additional 93 shares in the last quarter. MAI Capital Management boosted its position in Lumentum by 27.0% during the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock worth $43,000 after acquiring an additional 96 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in Lumentum by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 19,500 shares of the technology company’s stock valued at $1,854,000 after acquiring an additional 100 shares in 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.