Lumentum (NASDAQ:LITE) Stock Price Down 7.4% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price was down 7.4% during trading on Monday . The stock traded as low as $344.67 and last traded at $357.7110. Approximately 2,000,523 shares traded hands during mid-day trading, an increase of 0% from the average daily volume of 1,997,944 shares. The stock had previously closed at $386.11.

Analyst Upgrades and Downgrades

LITE has been the topic of several research analyst reports. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Morgan Stanley raised their price target on Lumentum from $190.00 to $304.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum from $145.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Northland Securities set a $350.00 price objective on shares of Lumentum in a research note on Wednesday, December 3rd. Finally, Susquehanna upped their price target on shares of Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $222.13.

Lumentum Stock Down 7.2%

The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The stock has a market cap of $25.39 billion, a price-to-earnings ratio of 240.90 and a beta of 1.51. The firm’s 50-day moving average is $299.44 and its 200 day moving average is $189.01.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, November 4th. The technology company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. The business had revenue of $533.80 million during the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The business’s revenue for the quarter was up 58.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 EPS. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Pamela Fletcher sold 3,421 shares of the company’s 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 completion of the sale, the director directly owned 10,561 shares of the company’s stock, valued at approximately $2,888,750.33. This represents a 24.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jae Kim sold 170 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $246.00, for a total value of $41,820.00. Following the completion of the transaction, the senior vice president directly owned 38,400 shares in the company, valued at $9,446,400. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 28,612 shares of company stock valued at $7,317,398. 0.43% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lumentum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Federation des caisses Desjardins du Quebec increased its stake in Lumentum by 18.4% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 24,528 shares of the technology company’s stock worth $1,529,000 after buying an additional 3,819 shares during the period. Advisors Asset Management Inc. raised its stake in Lumentum by 36.8% during the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Lumentum by 109.9% during the 1st quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after buying an additional 6,275 shares during the last quarter. Petrus Trust Company LTA acquired a new position in shares of Lumentum in the 1st quarter worth approximately $428,000. Finally, Scientech Research LLC grew its position in shares of Lumentum by 37.4% in the 1st quarter. Scientech Research LLC now owns 13,266 shares of the technology company’s stock worth $827,000 after acquiring an additional 3,613 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

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.