Lumentum Holdings Inc. (NASDAQ:LITE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Lumentum Holdings Inc. (NASDAQ:LITE) have been given an average rating of “Moderate Buy” by the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $1,021.9524.

LITE has been the topic of several analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Barclays lifted their target price on shares of Lumentum from $750.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Northland Securities lifted their target price on shares of Lumentum from $1,000.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Finally, BNP Paribas Exane lifted their target price on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th.

Insider Activity

In related news, Director Isaac Hosojiro Harris sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total transaction of $3,440,000.00. Following the transaction, the director directly owned 8,400 shares of the company’s stock, valued at approximately $7,224,000. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian Lillie sold 11,951 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $981.64, for a total transaction of $11,731,579.64. Following the transaction, the director directly owned 13,959 shares in the company, valued at $13,702,712.76. The trade was a 46.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 41,260 shares of company stock valued at $38,859,220 in the last three months. 0.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in Lumentum by 71.8% during the first quarter. Parallel Advisors LLC now owns 560 shares of the technology company’s stock valued at $394,000 after purchasing an additional 234 shares in the last quarter. Caerus Investment Advisors LLC purchased a new position in Lumentum during the first quarter valued at approximately $346,000. Concorde Asset Management LLC purchased a new position in Lumentum during the first quarter valued at approximately $212,000. Glenmede Trust Co. NA grew its position in Lumentum by 39.2% during the first quarter. Glenmede Trust Co. NA now owns 1,515 shares of the technology company’s stock valued at $1,065,000 after purchasing an additional 427 shares in the last quarter. Finally, Essential Partners LLC grew its position in Lumentum by 590.3% during the first quarter. Essential Partners LLC now owns 214 shares of the technology company’s stock valued at $150,000 after purchasing an additional 183 shares in the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

Lumentum Stock Performance

Lumentum stock opened at $818.73 on Monday. The firm’s 50 day simple moving average is $901.03 and its 200-day simple moving average is $670.68. The company has a market cap of $63.70 billion, a P/E ratio of 151.62 and a beta of 1.47. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. Lumentum has a fifty-two week low of $88.37 and a fifty-two week high of $1,085.68.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, equities research analysts predict that Lumentum will post 6.4 EPS for the current year.

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.