Lumentum (NASDAQ:LITE) Stock Price Up 7.8% on Analyst Upgrade

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price traded up 7.8% on Tuesday after Mizuho raised their price target on the stock to $645.00. Mizuho currently has an outperform rating on the stock. Lumentum traded as high as $612.50 and last traded at $606.6630. 3,806,765 shares changed hands during trading, a decline of 26% from the average session volume of 5,163,739 shares. The stock had previously closed at $562.74.

Other equities research analysts have also issued reports about the company. Citigroup raised their price objective on Lumentum to $560.00 and gave the stock a “buy” rating in a research note on Thursday, February 5th. Rosenblatt Securities raised their price target on shares of Lumentum to $580.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Needham & Company LLC upped their price target on shares of Lumentum to $550.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Stifel Nicolaus raised their price objective on shares of Lumentum to $480.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Morgan Stanley increased their price objective on Lumentum to $350.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $447.38.

Insider Activity at Lumentum

In other Lumentum news, Director Penny Herscher sold 4,849 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the transaction, the director owned 6,057 shares in the company, valued at approximately $3,243,402.36. This represents a 44.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vincent Retort sold 45,026 shares of Lumentum stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the transaction, the insider owned 102,455 shares in the company, valued at $60,583,690.60. This represents a 30.53% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 58,118 shares of company stock worth $32,759,088 over the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Hedge funds have recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lumentum by 8,579.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after buying an additional 1,545,199 shares during the period. Norges Bank purchased a new stake in shares of Lumentum in the 4th quarter worth approximately $474,495,000. Hood River Capital Management LLC boosted its stake in shares of Lumentum by 82.1% during the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Situational Awareness LP lifted its holdings in Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Lumentum by 707.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after acquiring an additional 871,249 shares in the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Lumentum Stock Up 7.8%

The stock has a market capitalization of $43.31 billion, a PE ratio of 185.96 and a beta of 1.51. The business has a 50 day moving average of $397.59 and a two-hundred day moving average of $259.02. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data 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 firm had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. Lumentum’s revenue was up 65.5% on a year-over-year basis. During the same period last year, the firm posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

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.