Lumentum (NASDAQ:LITE) Shares Down 2.2% on Insider Selling

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded down 2.2% during trading on Monday following insider selling activity. The company traded as low as $881.23 and last traded at $921.32. 4,417,876 shares traded hands during mid-day trading, a decline of 20% from the average daily volume of 5,525,641 shares. The stock had previously closed at $941.65.

Specifically, insider Yuen Wupen sold 500 shares of the business’s stock in a transaction that occurred on Friday, September 25th. The stock was sold at an average price of $935.75, for a total value of $467,875.00. Following the completion of the sale, the insider directly owned 109,127 shares in the company, valued at approximately $102,115,590.25. The trade was a 0.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $946.56, for a total value of $473,280.00. Following the sale, the insider directly owned 109,627 shares in the company, valued at approximately $103,768,533.12. This represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In related news, insider Yuen Wupen sold 500 shares of the firm’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $959.27, for a total transaction of $479,635.00. Following the transaction, the insider directly owned 111,127 shares in the company, valued at $106,600,797.29. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on LITE shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Lumentum in a research note on Monday, August 31st. They set a “buy” rating and a $1,200.00 target price for the company. Mizuho raised their price target on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings lowered shares of Lumentum from a “hold (c-)” rating to a “sell (d-)” rating in a report on Wednesday, August 19th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,300.00 price objective on shares of Lumentum in a research report on Wednesday, September 23rd. Finally, Raymond James Financial reiterated an “outperform” rating and set a $1,036.00 price objective on shares of Lumentum in a research note on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,066.87.

Lumentum Price Performance

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The company has a 50-day simple moving average of $862.03 and a two-hundred day simple moving average of $844.75. The stock has a market capitalization of $82.64 billion, a price-to-earnings ratio of -11.21 and a beta of 1.53.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the previous year, the company posted $0.88 earnings per share. The company’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, equities research analysts predict that Lumentum Holdings Inc. will post 19.78 earnings per share for the current year.

Institutional Trading of Lumentum

Several hedge funds have recently bought and sold shares of the company. CYBER HORNET ETFs LLC raised its stake in shares of Lumentum by 7.2% in the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after buying an additional 14 shares in the last quarter. Hilltop National Bank boosted its stake in Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after buying an additional 15 shares in the last quarter. Sachetta LLC boosted its stake in Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares in the last quarter. Toth Financial Advisory Corp grew its holdings in Lumentum by 127.3% during the second quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock worth $43,000 after acquiring an additional 28 shares during the period. Finally, Versant Capital Management Inc grew its holdings in Lumentum by 39.5% during the second quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock worth $91,000 after acquiring an additional 30 shares during the period. 94.05% of the stock is currently owned by institutional investors.

About Lumentum

Lumentum Holdings Inc (NASDAQ: LITE) designs and manufactures optical and photonic products used to transmit, process and control light. Its portfolio includes optical components, modules, subsystems, lasers and photonic integrated circuits that support communications networks, data centers, cloud infrastructure and industrial applications.

The company also supplies technologies for consumer electronics and 3D sensing, including laser-based products used in applications such as depth sensing and facial recognition.