Lumentum (NASDAQ:LITE) Trading Up 9.4% – Time to Buy?

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price rose 9.4% during mid-day trading on Wednesday . The company traded as high as $765.00 and last traded at $752.75. Approximately 1,596,371 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 4,917,870 shares. The stock had previously closed at $688.27.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Susquehanna raised their price objective on shares of Lumentum to $550.00 and gave the company a “positive” rating in a report on Wednesday, February 4th. Rosenblatt Securities raised their price target on Lumentum to $580.00 and gave the company a “buy” rating in a research note on Wednesday, February 4th. Bank of America lifted their price target on Lumentum to $520.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Barclays increased their price objective on Lumentum to $475.00 and gave the company an “equal weight” rating in a report on Thursday, February 5th. Finally, Wall Street Zen lowered Lumentum from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $458.00.

Lumentum Stock Up 3.5%

The stock has a market cap of $50.04 billion, a PE ratio of 215.00 and a beta of 1.51. The business has a 50 day moving average of $448.20 and a 200-day moving average of $287.36. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million during 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 company’s revenue was up 65.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In other Lumentum news, insider Vincent Retort sold 45,026 shares of Lumentum stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the transaction, the insider directly owned 102,455 shares in the company, valued at approximately $60,583,690.60. This trade represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Penny Herscher sold 4,849 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 6,057 shares in the company, valued at approximately $3,243,402.36. The trade was a 44.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 60,473 shares of company stock worth $35,186,972. 0.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LITE. Truvestments Capital LLC boosted its position in shares of Lumentum by 300.0% during 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 acquired a new stake in shares of Lumentum in the fourth quarter valued at about $28,000. Triumph Capital Management purchased a new stake in Lumentum during the fourth quarter worth about $30,000. Harbour Investments Inc. grew its position in Lumentum by 675.0% during the fourth quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after buying an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC acquired a new position in Lumentum during the fourth quarter worth about $37,000. Hedge funds and other 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.