Lumentum (NASDAQ:LITE) Trading 3.6% Higher – What’s Next?

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 3.6% during trading on Friday . The stock traded as high as $934.26 and last traded at $921.56. 4,493,043 shares traded hands during mid-day trading, a decline of 25% from the average session volume of 6,011,414 shares. The stock had previously closed at $889.59.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Citigroup lifted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. JPMorgan Chase & Co. lifted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a research report on Wednesday, May 6th. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Morgan Stanley boosted their price target on shares of Lumentum from $710.00 to $900.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Trading Up 3.6%

The firm’s 50-day moving average price is $897.64 and its 200-day moving average price is $629.72. 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 market cap of $71.70 billion, a P/E ratio of 170.66 and a beta of 1.47.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, beating 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 company had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 90.1% compared to the same quarter last year. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, CFO Wajid Ali sold 2,487 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the sale, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This represents a 3.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the sale, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This trade represents a 3.43% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 in the last ninety days. Insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. lifted its position in shares of Lumentum by 45.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company’s stock worth $136,306,000 after purchasing an additional 114,714 shares during the period. Andar Capital Management HK Ltd purchased a new stake in shares of Lumentum in the 4th quarter worth about $4,325,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Lumentum in the 4th quarter worth about $6,755,000. Headwater Capital Co Ltd purchased a new stake in shares of Lumentum in the 3rd quarter worth about $20,339,000. Finally, Maxi Investments CY Ltd purchased a new stake in shares of Lumentum in the 4th quarter worth about $2,212,000. 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.