Lumentum (NASDAQ:LITE) Price Target Raised to $350.00

Lumentum (NASDAQ:LITE) had its target price lifted by equities researchers at Morgan Stanley from $304.00 to $350.00 in a report released on Friday,MarketScreener reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Morgan Stanley’s price target indicates a potential downside of 8.24% from the company’s current price.

A number of other research analysts have also issued reports on the stock. B. Riley boosted their target price on shares of Lumentum from $83.00 to $147.00 and gave the company a “neutral” rating in a research note on Wednesday, November 5th. Zacks Research raised Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Citigroup increased their price target on Lumentum from $240.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. Needham & Company LLC lifted their price objective on shares of Lumentum to $290.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Finally, Rosenblatt Securities upped their price objective on shares of Lumentum to $380.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Lumentum currently has an average rating of “Moderate Buy” and a consensus target price of $288.06.

Lumentum Stock Performance

Lumentum stock opened at $381.44 on Friday. 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 stock’s 50 day moving average price is $348.01 and its 200 day moving average price is $222.45. Lumentum has a one year low of $45.65 and a one year high of $402.79. The firm has a market capitalization of $27.04 billion, a PE ratio of 256.00 and a beta of 1.51.

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

Insiders Place Their Bets

In other Lumentum news, Director Pamela Fletcher sold 3,421 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $273.53, for a total value of $935,746.13. Following the completion of the transaction, the director directly owned 10,561 shares in the company, valued at $2,888,750.33. This trade represents a 24.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Isaac Hosojiro Harris sold 7,200 shares of Lumentum stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the transaction, the director owned 9,764 shares in the company, valued at approximately $2,375,776.48. The trade was a 42.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 28,612 shares of company stock worth $7,317,398. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Several institutional investors and hedge funds have recently bought and sold shares of LITE. Arrowstreet Capital Limited Partnership boosted its position in Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Hood River Capital Management LLC grew its position in Lumentum by 82.1% in the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after acquiring an additional 994,551 shares in the last quarter. Norges Bank acquired a new position in shares of Lumentum during the 2nd quarter worth $82,983,000. Assenagon Asset Management S.A. raised its holdings in shares of Lumentum by 707.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after purchasing an additional 871,249 shares in the last quarter. Finally, Holocene Advisors LP acquired a new stake in shares of Lumentum in the 3rd quarter valued at $136,401,000. Hedge funds and other 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.