Lumentum (NASDAQ:LITE) Announces Earnings Results

Lumentum (NASDAQ:LITE) released its quarterly earnings results on Tuesday. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.03 by $0.07, Briefing.com reports. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. The company had revenue of $533.80 million during the quarter, compared to analysts’ expectations of $525.10 million. During the same period in the prior year, the company earned $0.18 earnings per share. The business’s quarterly revenue was up 58.4% compared to the same quarter last year. Lumentum updated its Q2 2026 guidance to 1.300-1.500 EPS.

Lumentum Price Performance

LITE traded up $46.35 during midday trading on Wednesday, reaching $234.71. 8,762,655 shares of the company’s stock were exchanged, compared to its average volume of 2,866,989. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $16.64 billion, a price-to-earnings ratio of 1,020.20 and a beta of 1.48. The business has a 50-day simple moving average of $163.44 and a two-hundred day simple moving average of $115.37. Lumentum has a one year low of $45.65 and a one year high of $240.71.

Analyst Ratings Changes

LITE has been the subject of a number of recent analyst reports. UBS Group upped their price target on shares of Lumentum from $78.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, August 13th. Stifel Nicolaus set a $220.00 price target on shares of Lumentum in a report on Wednesday. Needham & Company LLC upped their price target on shares of Lumentum from $180.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Wolfe Research restated an “outperform” rating and set a $240.00 price target on shares of Lumentum in a report on Wednesday. Finally, Northland Securities set a $250.00 price target on shares of Lumentum in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $189.60.

Insider Activity at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,526 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total value of $314,209.14. Following the transaction, the chief financial officer directly owned 77,087 shares of the company’s stock, valued at approximately $9,588,851.93. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Julia Suzanne Johnson sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $119.06, for a total transaction of $148,825.00. Following the completion of the transaction, the director directly owned 22,037 shares in the company, valued at approximately $2,623,725.22. The trade was a 5.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 18,198 shares of company stock worth $2,180,887. 0.43% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. boosted its stake in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the last quarter. State of Wyoming bought a new position in shares of Lumentum during the second quarter worth $209,000. Baird Financial Group Inc. bought a new position in shares of Lumentum during the second quarter worth $217,000. Sender Co & Partners Inc. bought a new position in shares of Lumentum during the second quarter worth $247,000. Finally, Corient Private Wealth LLC bought a new position in shares of Lumentum during the second quarter worth $268,000. 94.05% of the stock is owned by institutional investors.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.