Lumentum (NASDAQ:LITE) Trading 9.2% Higher – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) traded up 9.2% during trading on Monday . The stock traded as high as $785.34 and last traded at $779.89. 4,170,718 shares were traded during trading, a decline of 27% from the average daily volume of 5,739,092 shares. The stock had previously closed at $713.94.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. BNP Paribas Exane lifted their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a report on Friday, May 1st. TD Cowen lowered their price target on Lumentum from $995.00 to $800.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Craig Hallum lifted their price target on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $1,200.00 target price on shares of Lumentum in a research note on Wednesday, May 6th. Fourteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Lumentum Trading Up 9.2%

The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business’s 50 day simple moving average is $821.07 and its 200 day simple moving average is $739.34. The stock has a market cap of $60.68 billion, a P/E ratio of 144.42 and a beta of 1.50.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million during 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 revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, analysts expect that Lumentum Holdings Inc. will post 6.42 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the sale, the director owned 21,008 shares in the company, valued at approximately $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vincent Retort sold 3,183 shares of the company’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the transaction, the insider owned 89,563 shares in the company, valued at approximately $85,438,623.85. This trade represents a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

A number of institutional investors have recently bought and sold shares of LITE. Hilton Head Capital Partners LLC bought a new position in shares of Lumentum in the 1st quarter worth $25,000. Sachetta LLC raised its holdings in Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the period. Wiser Advisor Group LLC increased its position in shares of Lumentum by 6,000.0% in the 1st quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after buying an additional 60 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Lumentum by 1,140.0% during the second quarter. Harbor Investment Advisory LLC now owns 62 shares of the technology company’s stock worth $53,000 after acquiring an additional 57 shares in the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of Lumentum by 687.5% in the first quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock worth $44,000 after acquiring an additional 55 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.