Lumentum (NASDAQ:LITE) Stock Price Up 3% – Should You Buy?

Lumentum Holdings Inc. (NASDAQ:LITE) shares rose 3% on Friday . The company traded as high as $772.60 and last traded at $713.94. 4,526,212 shares were traded during trading, a decline of 21% from the average session volume of 5,747,126 shares. The stock had previously closed at $693.24.

Analysts Set New Price Targets

Several equities analysts recently commented on LITE shares. Rosenblatt Securities upped their price target on shares of Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research note on Friday, July 17th. B. Riley Financial reissued a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Mizuho set a $1,100.00 target price on shares of Lumentum in a research report on Wednesday, May 6th. Finally, JPMorgan Chase & Co. increased their target price on shares of Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,012.67.

Lumentum Stock Up 3.0%

The company has a market cap of $55.54 billion, a P/E ratio of 132.21 and a beta of 1.48. The stock has a 50-day moving average of $821.07 and a 200 day moving average of $736.55. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analysts’ expectations of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. Lumentum’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Research analysts anticipate that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Insider Activity at Lumentum

In related news, Director Isaac Hosojiro Harris sold 1,416 shares of Lumentum stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $1,000.08, for a total value of $1,416,113.28. Following the transaction, the director directly owned 6,984 shares of the company’s stock, valued at $6,984,558.72. This trade represents a 16.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 2,487 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the transaction, the chief financial officer owned 60,951 shares of the company’s stock, valued at approximately $58,144,206.45. This represents a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 41,260 shares of company stock worth $38,859,220 in the last 90 days. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

A number of large investors have recently modified their holdings of the business. Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum during the 1st quarter worth $25,000. Sachetta LLC boosted its stake in Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after buying an additional 19 shares in the last quarter. Wiser Advisor Group LLC boosted its stake in Lumentum by 6,000.0% in the first quarter. Wiser Advisor Group LLC now owns 61 shares of the technology company’s stock valued at $43,000 after buying an additional 60 shares in the last quarter. Harbor Investment Advisory LLC grew its position in Lumentum by 1,140.0% in the second quarter. Harbor Investment Advisory LLC now owns 62 shares of the technology company’s stock valued at $53,000 after acquiring an additional 57 shares during the last quarter. Finally, SJS Investment Consulting Inc. grew its position in Lumentum by 687.5% in the first quarter. SJS Investment Consulting Inc. now owns 63 shares of the technology company’s stock valued at $44,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds 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.