Lumentum (NASDAQ:LITE) Hits New 12-Month High After Analyst Upgrade

Lumentum Holdings Inc. (NASDAQ:LITE) shares reached a new 52-week high on Wednesday after Mizuho raised their price target on the stock to $645.00. Mizuho currently has an outperform rating on the stock. Lumentum traded as high as $616.52 and last traded at $600.42, with a volume of 5616126 shares traded. The stock had previously closed at $562.74.

LITE has been the topic of several other reports. Rosenblatt Securities lifted their target price on Lumentum to $580.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. UBS Group lifted their price objective on Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Stifel Nicolaus boosted their price objective on Lumentum to $480.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Morgan Stanley upped their price target on shares of Lumentum to $350.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. Finally, Susquehanna raised their price objective on shares of Lumentum to $550.00 and gave the stock a “positive” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $447.38.

Insiders Place Their Bets

In other news, Director Penny Herscher sold 4,849 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the completion of the transaction, the director directly owned 6,057 shares in the company, valued at $3,243,402.36. This represents a 44.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Vincent Retort sold 45,026 shares of Lumentum stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the sale, the insider directly owned 102,455 shares in the company, valued at approximately $60,583,690.60. This represents a 30.53% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 53,875 shares of company stock valued at $31,610,477. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Lumentum

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Truvestments Capital LLC boosted its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the last quarter. V Square Quantitative Management LLC bought a new stake in Lumentum during the fourth quarter worth $28,000. Triumph Capital Management acquired a new stake in Lumentum in the fourth quarter valued at $30,000. Harbour Investments Inc. grew its position in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock valued at $34,000 after acquiring an additional 81 shares during the period. Finally, Chesapeake Asset Management LLC bought a new position in shares of Lumentum in the 4th quarter valued at about $37,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Stock Up 6.7%

The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The firm’s 50 day moving average price is $402.39 and its two-hundred day moving average price is $262.50. The company has a market capitalization of $42.87 billion, a price-to-earnings ratio of 184.18 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.27% and a net margin of 11.95%.Lumentum’s quarterly revenue was up 65.5% on a year-over-year basis. During the same quarter last year, the company posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

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.