Lumentum (NASDAQ:LITE) Director Sells $2,596,542.52 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) Director Penny Herscher sold 4,849 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the completion of the sale, the director directly owned 6,057 shares in the company, valued at approximately $3,243,402.36. This represents a 44.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Lumentum Price Performance

LITE opened at $583.46 on Friday. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $603.83. The stock has a 50-day moving average price of $388.56 and a 200-day moving average price of $250.64. The firm has a market cap of $41.66 billion, a PE ratio of 178.98 and a beta of 1.51. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.26. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business’s revenue for the quarter was up 65.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lumentum

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its position in Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Lumentum during the 4th quarter worth $28,000. Triumph Capital Management bought a new stake in shares of Lumentum during the 4th quarter valued at $30,000. Danske Bank A S purchased a new stake in shares of Lumentum in the 3rd quarter worth $33,000. Finally, Harbour Investments Inc. increased its stake in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after purchasing an additional 81 shares in the last quarter. Institutional investors own 94.05% of the company’s stock.

Analysts Set New Price Targets

LITE has been the subject of several recent analyst reports. Barclays boosted their price target on Lumentum to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 5th. B. Riley Securities raised Lumentum from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. B.Riley Securit raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Needham & Company LLC lifted their price target on shares of Lumentum to $550.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $444.94.

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.