Lumentum (NASDAQ:LITE) Stock Rating Lowered by Zacks Research

Lumentum (NASDAQ:LITE) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday,Zacks.com reports.

LITE has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research note on Tuesday, June 9th. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research note on Tuesday, April 21st. Citigroup lifted their price target on Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Tuesday, April 21st. Finally, TD Cowen boosted their price target on Lumentum from $875.00 to $995.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, Lumentum presently has a consensus rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Stock Performance

LITE opened at $698.91 on Monday. The business’s 50-day simple moving average is $886.59 and its 200 day simple moving average is $691.84. Lumentum has a 52-week low of $88.93 and a 52-week high of $1,085.68. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14. The firm has a market capitalization of $54.38 billion, a PE ratio of 129.43 and a beta of 1.48.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business’s quarterly revenue was up 90.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts expect that Lumentum will post 6.4 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other Lumentum news, SVP Jae Kim sold 1,422 shares of the firm’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 $1,356,516.90. Following the completion of the sale, the senior vice president directly owned 32,333 shares in the company, valued at $30,844,065.35. This trade represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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, Director Ian Small sold 4,954 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total value of $4,300,418.78. Following the sale, the director owned 21,008 shares of the company’s stock, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their position. The disclosure for this sale is available in the SEC filing. 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

Several institutional investors have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC bought a new position in Lumentum during the 1st quarter worth $25,000. Sachetta LLC grew its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares in the last quarter. V Square Quantitative Management LLC bought a new position in Lumentum during the fourth quarter worth about $28,000. Truvestments Capital LLC increased its position in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after acquiring an additional 57 shares during the period. Finally, Triumph Capital Management acquired a new stake in Lumentum in the 4th quarter worth about $30,000. 94.05% of the stock is currently owned by institutional investors.

About Lumentum

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.