Lumentum (NASDAQ:LITE) Shares Down 9.9% – What’s Next?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded down 9.9% during mid-day trading on Tuesday . The stock traded as low as $863.11 and last traded at $873.31. 5,950,229 shares changed hands during trading, an increase of 4% from the average daily volume of 5,741,491 shares. The stock had previously closed at $968.90.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Citigroup restated a “buy” rating on shares of Lumentum in a report on Wednesday, August 12th. Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 price target on shares of Lumentum in a report on Wednesday, August 12th. Stifel Nicolaus boosted their price target on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Weiss Ratings lowered Lumentum from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, August 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $1,040.00 price objective on shares of Lumentum in a report on Wednesday, August 12th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,044.67.

Lumentum Trading Down 9.9%

The company has a quick ratio of 1.40, a current ratio of 1.68 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $67.94 billion, a P/E ratio of -10.62 and a beta of 1.50. The firm has a 50 day moving average of $810.55 and a 200-day moving average of $779.66.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The company’s revenue was up 109.3% on a year-over-year basis. During the same quarter last year, the company earned $0.88 EPS. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 16.97 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the sale, the director directly owned 6,984 shares of the company’s stock, valued at approximately $6,984,558.72. This represents a 16.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ian Small sold 4,954 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the completion of the transaction, the director owned 21,008 shares in the company, valued at $18,236,414.56. The trade was a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 10,370 shares of company stock worth $9,156,532. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Lumentum

A number of institutional investors and hedge funds have recently made changes to their positions in LITE. Hilltop National Bank increased its stake in Lumentum by 26.8% in the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after acquiring an additional 15 shares during the last quarter. Sachetta LLC raised its position in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Versant Capital Management Inc lifted its stake in Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock worth $91,000 after purchasing an additional 30 shares during the last quarter. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum in the 1st quarter valued at $25,000. Finally, Abel Hall LLC boosted its holdings in shares of Lumentum by 5.5% in the 1st quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock valued at $487,000 after purchasing an additional 36 shares in the last quarter. 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.