Lumentum (NASDAQ:LITE) Shares Up 8.1% – Time to Buy?

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price traded up 8.1% during trading on Thursday . The stock traded as high as $827.56 and last traded at $826.88. 7,825,034 shares were traded during mid-day trading, an increase of 30% from the average session volume of 6,015,555 shares. The stock had previously closed at $764.65.

Analyst Upgrades and Downgrades

LITE has been the topic of a number of research analyst reports. TD Cowen assumed coverage on Lumentum in a report on Thursday, March 12th. They set a “hold” rating and a $675.00 price target on the stock. Morgan Stanley raised their price objective on Lumentum to $595.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 18th. Rosenblatt Securities reaffirmed a “buy” rating and set a $900.00 target price on shares of Lumentum in a research note on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on Lumentum to $565.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Finally, Mizuho raised their price target on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a report on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $575.06.

Lumentum Stock Performance

The firm has a 50-day simple moving average of $622.91 and a two-hundred day simple moving average of $389.79. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $59.04 billion, a price-to-earnings ratio of 253.64 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, beating 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 business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter in the previous year, the business posted $0.42 EPS. 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. As a group, sell-side analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 3,441 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the transaction, the insider owned 95,975 shares in the company, valued at $52,381,235.50. This represents a 3.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the transaction, the chief financial officer owned 66,287 shares in the company, valued at $45,812,934.31. This represents a 7.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,775 shares of company stock valued at $38,851,343. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Lumentum

Large investors have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. grew its stake in Lumentum by 123.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,623 shares of the technology company’s stock valued at $1,704,000 after buying an additional 2,553 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Lumentum by 6,239.0% in the fourth quarter. Hsbc Holdings PLC now owns 194,163 shares of the technology company’s stock worth $71,724,000 after purchasing an additional 191,100 shares during the period. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Lumentum in the fourth quarter worth about $1,136,000. Caitong International Asset Management Co. Ltd lifted its position in shares of Lumentum by 46,666.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 8,418 shares of the technology company’s stock worth $3,103,000 after purchasing an additional 8,400 shares during the last quarter. Finally, Reflection Asset Management acquired a new position in shares of Lumentum during the 4th quarter worth about $59,000. Institutional investors 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.