Lumentum (NASDAQ:LITE) Price Target Raised to $1,186.00 at Citic Securities

Lumentum (NASDAQ:LITE) had its price objective lifted by equities researchers at Citic Securities from $620.00 to $1,186.00 in a research note issued to investors on Monday,MarketScreener reports. Citic Securities’ price objective indicates a potential upside of 31.32% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Loop Capital lifted their price objective on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Stifel Nicolaus boosted their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 5th. UBS Group raised their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday. Jefferies Financial Group reaffirmed a “buy” rating and set a $1,200.00 price target on shares of Lumentum in a report on Wednesday. Finally, Craig Hallum upped their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,012.43.

Lumentum Trading Down 0.1%

LITE stock opened at $903.12 on Monday. The company’s 50-day simple moving average is $776.13 and its 200 day simple moving average is $502.93. Lumentum has a 52 week low of $63.98 and a 52 week high of $1,021.00. The company has a market capitalization of $70.26 billion, a PE ratio of 167.24 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $810.21 million. During the same period in the previous year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts anticipate that Lumentum will post 5.95 earnings per share for the current year.

Insider Transactions at Lumentum

In related news, insider Vincent Retort sold 45,026 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the sale, the insider directly owned 102,455 shares in the company, valued at $60,583,690.60. This represents a 30.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This represents a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,926 shares of company stock valued at $36,254,801 over the last three months. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Institutional investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its stake in shares of Lumentum by 5.7% in the first quarter. PNC Financial Services Group Inc. now owns 8,304 shares of the technology company’s stock valued at $5,836,000 after buying an additional 450 shares during the period. Oslo Pensjonsforsikring AS acquired a new position in shares of Lumentum in the first quarter worth approximately $223,000. Titan Global Capital Management USA LLC bought a new stake in Lumentum in the first quarter valued at approximately $14,332,000. Commerzbank Aktiengesellschaft FI acquired a new stake in Lumentum during the 1st quarter valued at approximately $225,000. Finally, Meeder Asset Management Inc. acquired a new stake in Lumentum during the 1st quarter valued at approximately $63,000. 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.