Lumentum (NASDAQ:LITE) Shares Up 2.2% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price traded up 2.2% during mid-day trading on Monday . The stock traded as high as $918.84 and last traded at $914.76. Approximately 3,200,136 shares traded hands during trading, a decline of 43% from the average daily volume of 5,644,238 shares. The stock had previously closed at $895.00.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Northland Securities increased their target price on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Citic Securities upped their price objective on Lumentum from $620.00 to $1,186.00 in a research note on Monday, May 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,300.00 price objective on shares of Lumentum in a research report on Wednesday, August 12th. Morgan Stanley lifted their target price on Lumentum from $900.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. Finally, UBS Group set a $820.00 target price on Lumentum in a report on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,047.18.

Lumentum Trading Up 2.2%

The firm has a market cap of $82.05 billion, a PE ratio of -11.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40. The business has a 50-day moving average price of $811.83 and a two-hundred day moving average price of $806.69.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $987.70 million. During the same period last year, the company posted $0.88 EPS. The company’s revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 19.76 EPS for the current year.

Insider Buying and Selling

In other news, Director Isaac Hosojiro Harris sold 1,416 shares of the business’s 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 completion of the transaction, the director owned 6,984 shares of the company’s stock, valued at $6,984,558.72. The trade was a 16.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the transaction, the senior vice president directly owned 37,804 shares in the company, valued at $32,230,934.32. The trade was a 24.09% 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. Insiders sold 64,563 shares of company stock worth $55,448,750 in the last 90 days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LITE. CYBER HORNET ETFs LLC lifted its holdings in Lumentum by 7.2% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after buying an additional 14 shares during the last quarter. Hilltop National Bank increased its stake in Lumentum by 26.8% during the second quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after purchasing an additional 15 shares during the last quarter. Sachetta LLC raised its holdings in shares of Lumentum by 118.8% during the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares during the period. Toth Financial Advisory Corp raised its holdings in shares of Lumentum by 127.3% during the second quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock worth $43,000 after purchasing an additional 28 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Lumentum by 39.5% in the 2nd quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock worth $91,000 after buying an additional 30 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.