Lumentum (NASDAQ:LITE) Trading 8.2% Higher – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE) rose 8.2% during trading on Thursday . The stock traded as high as $903.00 and last traded at $891.22. Approximately 6,015,840 shares traded hands during trading, a decline of 1% from the average daily volume of 6,054,270 shares. The stock had previously closed at $824.01.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Citigroup boosted their target price on shares of Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. B. Riley Financial raised shares of Lumentum from a “neutral” rating to a “buy” rating and boosted their target price for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. TD Cowen boosted their target price on shares of Lumentum from $675.00 to $875.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Mizuho boosted their target price on shares of Lumentum from $750.00 to $930.00 and gave the company an “outperform” rating in a research note on Wednesday, April 8th. Finally, Stifel Nicolaus boosted their target price on shares of Lumentum to $800.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $629.44.

Lumentum Trading Up 8.2%

The stock’s 50 day moving average is $695.67 and its two-hundred day moving average is $429.91. The company has a market capitalization of $63.63 billion, a PE ratio of 273.38 and a beta of 1.38. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, topping 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 analyst estimates of $646.74 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter 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, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 3,157 shares of the company’s 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 completion of the sale, the insider directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Wajid Ali sold 5,302 shares of the company’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the sale, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at approximately $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 65,775 shares of company stock valued at $38,851,343 in the last ninety days. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Lumentum

A number of large investors have recently added to or reduced their stakes in LITE. Arrowstreet Capital Limited Partnership raised its holdings in Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock worth $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Norges Bank bought a new position in Lumentum in the fourth quarter worth about $474,495,000. Value Aligned Research Advisors LLC bought a new position in Lumentum in the fourth quarter worth about $432,062,000. Situational Awareness LP raised its holdings in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after purchasing an additional 871,249 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors.

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.