Brokerages Set Lumentum Holdings Inc. (NASDAQ:LITE) Price Target at $575.06

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been given an average rating of “Moderate Buy” by the nineteen research firms that are covering the company, Marketbeat Ratings reports. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $575.0625.

Several analysts recently issued reports on LITE shares. JPMorgan Chase & Co. boosted their price objective on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Needham & Company LLC increased their target price on shares of Lumentum to $850.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Lumentum in a research report on Monday, December 29th. Mizuho upped their price objective on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Finally, TD Cowen began coverage on shares of Lumentum in a research report on Thursday, March 12th. They set a “hold” rating and a $675.00 price objective for the company.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer directly owned 66,287 shares in the company, valued at $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction on Friday, February 6th. The shares were sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the sale, the director directly owned 6,057 shares of the company’s stock, valued at $3,243,402.36. The trade was a 44.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 65,775 shares of company stock valued at $38,851,343 over the last three months. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Lumentum

Several hedge funds have recently made changes to their positions in LITE. Advisors Asset Management Inc. boosted its position in Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after buying an additional 254 shares during the period. NewEdge Advisors LLC increased its position in shares of Lumentum by 109.9% during the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock worth $747,000 after acquiring an additional 6,275 shares during the period. Empowered Funds LLC raised its stake in shares of Lumentum by 9.1% in the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock valued at $507,000 after acquiring an additional 680 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Lumentum by 16.3% in the second quarter. Envestnet Asset Management Inc. now owns 14,926 shares of the technology company’s stock valued at $1,419,000 after purchasing an additional 2,089 shares during the period. Finally, ProShare Advisors LLC purchased a new position in Lumentum in the second quarter valued at $292,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Performance

Lumentum stock opened at $728.95 on Friday. The firm has a 50 day simple moving average of $549.93 and a 200-day simple moving average of $355.60. The stock has a market cap of $52.05 billion, a price-to-earnings ratio of 223.60 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. Lumentum has a 1-year low of $45.65 and a 1-year high of $787.45.

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

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.