Lumentum (NASDAQ:LITE) Stock Price Up 8.4% – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) shares rose 8.4% during mid-day trading on Monday . The company traded as high as $249.85 and last traded at $251.6590. Approximately 2,144,543 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 2,957,783 shares. The stock had previously closed at $232.15.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Stifel Nicolaus set a $220.00 price target on shares of Lumentum in a research report on Wednesday, November 5th. Wolfe Research reiterated an “outperform” rating and set a $240.00 price objective on shares of Lumentum in a report on Wednesday, November 5th. JPMorgan Chase & Co. upped their target price on shares of Lumentum from $145.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, October 16th. Bank of America upgraded Lumentum from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. Finally, Rosenblatt Securities boosted their price objective on Lumentum to $280.00 and gave the stock a “buy” rating in a report on Wednesday, November 5th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.67.

Lumentum Price Performance

The firm has a market cap of $17.21 billion, a PE ratio of 163.22 and a beta of 1.48. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The business’s fifty day moving average is $180.49 and its 200-day moving average is $125.81.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.03 by $0.07. Lumentum had a net margin of 6.11% and a return on equity of 4.62%. The company had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. During the same quarter last year, the business posted $0.18 EPS. Lumentum’s quarterly revenue was up 58.4% compared to the same quarter last year. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Lumentum news, CAO Matthew Joseph Sepe sold 4,232 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $239.63, for a total transaction of $1,014,114.16. Following the sale, the chief accounting officer directly owned 43,544 shares of the company’s stock, valued at $10,434,448.72. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Wajid Ali sold 2,526 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total value of $314,209.14. Following the completion of the sale, the chief financial officer directly owned 77,087 shares in the company, valued at approximately $9,588,851.93. The trade was a 3.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 35,028 shares of company stock worth $7,111,950 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after buying an additional 41,975 shares during the period. PointState Capital LP purchased a new position in shares of Lumentum in the 1st quarter valued at approximately $213,503,000. Hood River Capital Management LLC boosted its position in shares of Lumentum by 82.1% during the second quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock valued at $209,745,000 after purchasing an additional 994,551 shares in the last quarter. Atreides Management LP grew its stake in Lumentum by 6.8% in the first quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after purchasing an additional 119,938 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Lumentum by 1.1% in the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock worth $107,913,000 after purchasing an additional 19,085 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

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.