Lumentum (NASDAQ:LITE) Insider Sells $1,878,028.98 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) insider Vincent Retort sold 3,441 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total value of $1,878,028.98. Following the completion of the sale, the insider directly owned 95,975 shares of the company’s stock, valued at approximately $52,381,235.50. This represents a 3.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Vincent Retort also recently made the following trade(s):

• On Thursday, February 12th, Vincent Retort sold 45,026 shares of Lumentum stock. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32.

Lumentum Stock Up 5.1%

Shares of Lumentum stock opened at $667.77 on Friday. The company has a market capitalization of $47.68 billion, a P/E ratio of 204.84 and a beta of 1.51. The company has a 50 day moving average of $419.10 and a 200 day moving average of $271.26. 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 Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $678.00.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share 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 the consensus estimate of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company’s revenue was up 65.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, research analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LITE. Citigroup raised their price objective on Lumentum to $560.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Morgan Stanley lifted their price target on Lumentum to $350.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Barclays upped their price objective on Lumentum to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Bank of America lifted their target price on Lumentum to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Finally, Mizuho lifted their price objective on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $447.38.

Hedge Funds Weigh In On Lumentum

A number of hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its stake in Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC increased its stake in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after acquiring an additional 6,275 shares during the period. Empowered Funds LLC raised its stake in Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after acquiring an additional 680 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Lumentum by 42.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,691 shares of the technology company’s stock valued at $636,000 after acquiring an additional 1,987 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in Lumentum by 13.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 61,978 shares of the technology company’s stock worth $5,892,000 after buying an additional 7,256 shares in the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.