Lumentum (NASDAQ:LITE) Trading Up 9.4% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) was up 9.4% on Tuesday . The company traded as high as $843.00 and last traded at $837.56. Approximately 4,018,249 shares traded hands during trading, a decline of 31% from the average daily volume of 5,803,728 shares. The stock had previously closed at $765.55.

Analyst Ratings Changes

Several brokerages have issued reports on LITE. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Lumentum in a research note on Friday. Craig Hallum lifted their price target on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Raymond James Financial reaffirmed an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a research note on Wednesday, May 6th. Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Loop Capital lifted their target price on shares of Lumentum from $900.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, May 5th. Fourteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,012.67.

Lumentum Stock Up 9.4%

The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The company has a 50-day simple moving average of $859.31 and a two-hundred day simple moving average of $715.91. The stock has a market cap of $65.16 billion, a P/E ratio of 155.10 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm had revenue of $808.40 million for the quarter, compared to analysts’ expectations of $810.21 million. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, equities analysts forecast that Lumentum Holdings Inc. will post 6.42 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ian Small sold 4,954 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. This represents a 19.08% 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, Director Isaac Hosojiro Harris sold 1,416 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the completion of the sale, the director directly owned 6,984 shares in the company, valued at $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 41,260 shares of company stock worth $38,859,220. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lumentum

Institutional investors and hedge funds have recently bought and sold shares of the business. Hilltop National Bank grew its holdings in shares of Lumentum by 26.8% in the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock worth $61,000 after purchasing an additional 15 shares during the last quarter. Sachetta LLC raised its holdings in shares of Lumentum by 118.8% in the 1st 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 position in shares of Lumentum by 39.5% in the 2nd 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 period. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum during the first quarter valued at approximately $25,000. Finally, Abel Hall LLC boosted its stake in shares of Lumentum by 5.5% during the first 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. Hedge funds and other institutional investors own 94.05% of the company’s stock.

About Lumentum

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.