Lumentum (NASDAQ:LITE) Stock Price Up 7.3% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) rose 7.3% during trading on Tuesday . The stock traded as high as $703.43 and last traded at $702.76. Approximately 6,045,075 shares were traded during trading, an increase of 1% from the average daily volume of 5,975,559 shares. The stock had previously closed at $654.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 2nd. Citigroup raised their price objective on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research report on Thursday, February 5th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and upped their target price for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. TD Cowen started coverage on Lumentum in a research note on Thursday, March 12th. They issued a “hold” rating and a $675.00 target price on the stock. Finally, Needham & Company LLC raised their price target on Lumentum to $850.00 and gave the company a “buy” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $575.06.

Lumentum Price Performance

The stock has a market capitalization of $50.18 billion, a PE ratio of 215.57 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. The firm’s 50 day simple moving average is $588.75 and its 200 day simple moving average is $375.64.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter in the prior year, the company earned $0.42 EPS. The firm’s revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 3,441 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the sale, the insider owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. The trade was a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Yuen Wupen sold 3,157 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the sale, the insider owned 88,439 shares of the company’s stock, valued at $47,580,182. This represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 65,775 shares of company stock valued at $38,851,343. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its holdings in shares of Lumentum by 16.0% in the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock worth $120,000 after purchasing an additional 45 shares during the last quarter. Allworth Financial LP boosted its position in Lumentum by 6.4% during the 3rd quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock valued at $128,000 after buying an additional 47 shares during the period. UMB Bank n.a. grew its holdings in Lumentum by 5.2% in the 4th quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock worth $357,000 after acquiring an additional 48 shares during the last quarter. Truvestments Capital LLC grew its holdings in 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 acquiring an additional 57 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in shares of Lumentum by 0.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock valued at $5,208,000 after acquiring an additional 60 shares during the period. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

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.