Lumentum (NASDAQ:LITE) Trading 1% Higher – Here’s What Happened

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) traded up 1% on Friday . The company traded as high as $639.56 and last traded at $622.50. 3,825,536 shares were traded during mid-day trading, a decline of 30% from the average session volume of 5,428,761 shares. The stock had previously closed at $616.09.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LITE shares. Rosenblatt Securities raised their price target on Lumentum to $580.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. TD Cowen assumed coverage on shares of Lumentum in a report on Thursday. They issued a “hold” rating and a $675.00 price objective for the company. Needham & Company LLC raised their target price on shares of Lumentum to $850.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Northland Securities set a $350.00 price target on shares of Lumentum in a research note on Wednesday, December 3rd. Finally, Morgan Stanley lifted their price objective on Lumentum to $520.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $550.38.

Lumentum Trading Up 1.0%

The stock’s fifty day simple moving average is $505.29 and its two-hundred day simple moving average is $325.51. The firm has a market cap of $44.45 billion, a PE ratio of 190.95 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

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

Insider Activity

In other Lumentum news, Director Penny Herscher sold 4,000 shares of Lumentum stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $597.29, for a total value of $2,389,160.00. Following the completion of the transaction, the director directly owned 2,057 shares of the company’s stock, valued at approximately $1,228,625.53. The trade was a 66.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vincent Retort sold 3,441 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the completion of the transaction, the insider owned 95,975 shares in the company, valued at approximately $52,381,235.50. This represents a 3.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 65,775 shares of company stock valued at $38,851,343 in the last quarter. 0.43% of the stock is owned by company insiders.

Institutional Trading of Lumentum

Institutional investors have recently added to or reduced their stakes in the business. Truvestments Capital LLC increased its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Lumentum during the fourth quarter valued at $28,000. Triumph Capital Management purchased a new stake in shares of Lumentum during the fourth quarter valued at $30,000. Harbour Investments Inc. boosted its position in shares of Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after buying an additional 81 shares during the last quarter. Finally, Chesapeake Asset Management LLC bought a new stake in Lumentum in the 4th quarter worth about $37,000. 94.05% of the stock is currently owned by hedge funds and other 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.