Lumentum (NASDAQ:LITE) Given New $1,200.00 Price Target at Northland Securities

Lumentum (NASDAQ:LITE) had its price target boosted by Northland Securities from $1,000.00 to $1,200.00 in a report released on Wednesday, MarketBeat reports. The brokerage currently has an outperform rating on the technology company’s stock.

A number of other research analysts have also commented on LITE. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Stifel Nicolaus upped their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, May 5th. Mizuho set a $1,100.00 target price on Lumentum in a research note on Wednesday, May 6th. Susquehanna upped their target price on Lumentum from $550.00 to $1,100.00 and gave the company a “positive” rating in a research note on Monday, April 20th. Finally, BNP Paribas Exane upped their target price on Lumentum from $1,040.00 to $1,300.00 in a research note on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,021.95.

Lumentum Stock Down 8.9%

LITE opened at $938.00 on Wednesday. The business has a 50 day moving average of $875.70 and a 200-day moving average of $600.97. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $72.98 billion, a price-to-earnings ratio of 173.70 and a beta of 1.47. Lumentum has a 1-year low of $79.50 and a 1-year high of $1,085.68.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to analyst estimates of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum’s revenue was up 90.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, sell-side analysts anticipate that Lumentum will post 6.49 earnings per share for the current year.

Insider Activity

In other Lumentum news, Director Ian Small sold 4,954 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the transaction, the director directly owned 21,008 shares in the company, valued at $18,236,414.56. This represents a 19.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 3,183 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider owned 89,563 shares of the company’s stock, valued at $85,438,623.85. This represents a 3.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 39,844 shares of company stock valued at $37,443,107. 0.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its stake in Lumentum by 71.8% during the first quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock worth $394,000 after acquiring an additional 234 shares in the last quarter. Caerus Investment Advisors LLC acquired a new position in Lumentum during the first quarter worth $346,000. Concorde Asset Management LLC acquired a new position in Lumentum during the first quarter worth $212,000. Glenmede Trust Co. NA grew its holdings in shares of Lumentum by 39.2% during the first quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company’s stock worth $1,065,000 after purchasing an additional 427 shares during the last quarter. Finally, Essential Partners LLC grew its holdings in shares of Lumentum by 590.3% during the first quarter. Essential Partners LLC now owns 214 shares of the technology company’s stock worth $150,000 after purchasing an additional 183 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

More Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Northland Securities raised its price target on Lumentum and kept an Outperform rating, reinforcing the bullish case for more upside. Northland Securities adjusts PT on Lumentum
• Positive Sentiment: Market commentary highlighted Nvidia’s shift from copper to optical interconnects in AI data centers, putting Lumentum at the center of a major long-term growth theme. Nvidia optics shift puts Lumentum at center of AI data centers
• Positive Sentiment: Optical networking stocks broadly rallied as investors piled into AI-related infrastructure names, which has helped lift sentiment toward Lumentum alongside peers like Coherent and Corning. Why Coherent and Lumentum stocks jumped on Tuesday
• Neutral Sentiment: One article noted that a director sold 4,000 shares, but the sale was made under a pre-arranged 10b5-1 plan, so it is less likely to be interpreted as a negative fundamental signal. Director Isaac Hosojiro Harris sells 4,000 shares

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.