Lumentum (NASDAQ:LITE) Stock Price Down 3.8% – Time to Sell?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) fell 3.8% during mid-day trading on Tuesday . The company traded as low as $903.02 and last traded at $910.81. 5,149,704 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 5,985,056 shares. The stock had previously closed at $946.90.

Analyst Ratings Changes

A number of brokerages recently issued reports on LITE. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Citic Securities increased their price objective on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. Northland Securities set a $1,000.00 price objective on Lumentum in a report on Monday, April 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $1,014.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,012.43.

Lumentum Trading Down 3.8%

The business has a 50 day simple moving average of $843.78 and a 200-day simple moving average of $567.91. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The stock has a market capitalization of $70.86 billion, a P/E ratio of 168.67 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The firm had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The firm’s quarterly revenue was up 90.1% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts predict that Lumentum Holdings Inc. will post 6.49 EPS for the current year.

Insider Activity

In other news, CFO Wajid Ali sold 5,302 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the sale, the chief financial officer owned 66,287 shares in the company, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director owned 21,008 shares of the company’s stock, valued at $18,236,414.56. This trade represents a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 41,146 shares of company stock worth $37,667,478 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently modified their holdings of LITE. Hilton Head Capital Partners LLC acquired a new stake in shares of Lumentum during the 1st quarter valued at $25,000. Sachetta LLC lifted its position in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Lumentum during the 4th quarter valued at $28,000. Finally, Truvestments Capital LLC lifted its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after acquiring an additional 57 shares during the last quarter. Institutional investors and hedge funds 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.