Lumentum (NASDAQ:LITE) Hits New 12-Month High – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) reached a new 52-week high during trading on Friday . The stock traded as high as $827.56 and last traded at $826.88, with a volume of 7853863 shares changing hands. The stock had previously closed at $764.65.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LITE shares. Barclays lifted their price target on shares of Lumentum to $750.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 3rd. B. Riley Financial raised shares of Lumentum from a “neutral” rating to a “buy” rating and raised their target price for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. Bank of America lifted their target price on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Stifel Nicolaus upped their price target on shares of Lumentum to $800.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Needham & Company LLC increased their price target on Lumentum to $850.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $575.06.

Lumentum Price Performance

The business’s 50 day moving average price is $622.91 and its 200-day moving average price is $391.32. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The company has a market cap of $59.04 billion, a PE ratio of 253.64 and a beta of 1.38.

Lumentum (NASDAQ:LITE) last announced its earnings results 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. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The business’s quarterly revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insiders Place Their Bets

In other Lumentum news, insider Vincent Retort sold 45,026 shares of the company’s 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 of the company’s stock, valued at $60,583,690.60. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Yuen Wupen sold 3,157 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 65,775 shares of company stock worth $38,851,343. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in Lumentum by 363.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after acquiring an additional 131 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum in the fourth quarter valued at about $28,000. Truvestments Capital LLC raised its stake in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares in the last quarter. Triumph Capital Management bought a new position in Lumentum during the 4th quarter worth approximately $30,000. Finally, Danske Bank A S acquired a new position in shares of Lumentum in the 3rd quarter worth approximately $33,000. 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.