Penny Herscher Sells 4,000 Shares of Lumentum (NASDAQ:LITE) Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the completion of the sale, the director directly owned 2,057 shares in the company, valued at $1,228,625.53. This represents a 66.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Penny Herscher also recently made the following trade(s):

• On Friday, February 6th, Penny Herscher sold 4,849 shares of Lumentum stock. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52.

Lumentum Price Performance

Shares of LITE stock traded down $20.72 during mid-day trading on Friday, hitting $562.74. 4,954,174 shares of the stock traded hands, compared to its average volume of 5,229,054. Lumentum Holdings Inc. has a twelve month low of $45.65 and a twelve month high of $603.83. The company’s 50-day simple moving average is $393.19 and its 200-day simple moving average is $253.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The firm has a market cap of $40.18 billion, a price-to-earnings ratio of 172.62 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last posted its earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.41 by $0.26. The firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business’s quarterly revenue was up 65.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. UBS Group boosted their target price on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Bank of America raised their target price on Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. JPMorgan Chase & Co. increased their target price on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Finally, B. Riley Financial upgraded Lumentum from a “neutral” rating to a “buy” rating and raised their target price for the stock from $147.00 to $526.00 in a research note on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus target price of $444.94.

Institutional Trading of Lumentum

A number of institutional investors and hedge funds have recently bought and sold shares of LITE. CreativeOne Wealth LLC bought a new stake in shares of Lumentum during the 4th quarter worth approximately $670,000. Marshall Wace LLP boosted its stake in shares of Lumentum by 42.2% during the 4th quarter. Marshall Wace LLP now owns 99,286 shares of the technology company’s stock worth $36,596,000 after acquiring an additional 29,488 shares in the last quarter. Absolute Gestao de Investimentos Ltda. acquired a new stake in Lumentum in the 4th quarter worth about $341,000. ANB Bank purchased a new position in Lumentum in the 4th quarter worth approximately $386,000. Finally, Bridgewater Associates LP boosted its holdings in Lumentum by 142.9% in the 4th quarter. Bridgewater Associates LP now owns 20,770 shares of the technology company’s stock valued at $7,656,000 after purchasing an additional 12,219 shares during the last quarter. 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.