Lumentum Holdings Inc. (NASDAQ:LITE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Lumentum Holdings Inc. (NASDAQ:LITE) has been given an average recommendation of “Moderate Buy” by the twenty-one brokerages that are covering the company, MarketBeat.com reports. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $1,012.6667.

Several equities research analysts have recently weighed in on LITE shares. Citigroup reissued a “buy” rating on shares of Lumentum in a research note on Thursday, July 16th. UBS Group upped their price target on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. BNP Paribas Exane increased their price objective on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Rosenblatt Securities raised their price objective on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Finally, Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th.

Insiders Place Their Bets

In other news, Director Ian Small sold 4,954 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $868.07, for a total value of $4,300,418.78. Following the transaction, the director directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vincent Retort sold 3,183 shares of the firm’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 completion of the transaction, the insider directly owned 89,563 shares in the company, valued at $85,438,623.85. This represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. 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. Over the last 90 days, insiders have sold 41,260 shares of company stock valued at $38,859,220. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Large investors have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership grew its stake in Lumentum by 18.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Lumentum by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after buying an additional 123,265 shares during the period. Situational Awareness LP raised its holdings in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Norges Bank purchased a new position in Lumentum during the 4th quarter valued at about $474,495,000. Finally, Value Aligned Research Advisors LLC bought a new stake in shares of Lumentum in the 4th quarter valued at about $432,062,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Price Performance

NASDAQ:LITE opened at $693.24 on Friday. The firm has a market capitalization of $53.93 billion, a price-to-earnings ratio of 128.38 and a beta of 1.48. 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 has a 50 day simple moving average of $825.72 and a 200-day simple moving average of $736.71. Lumentum has a 1 year low of $101.61 and a 1 year high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. The firm had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities analysts forecast that Lumentum will post 6.42 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.