Lumentum (NASDAQ:LITE) Stock Price Up 2.1% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) shot up 2.1% during trading on Friday . The company traded as high as $806.56 and last traded at $802.01. 3,546,248 shares changed hands during trading, a decline of 40% from the average daily volume of 5,896,252 shares. The stock had previously closed at $785.77.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LITE shares. Barclays upped their price objective on shares of Lumentum from $750.00 to $1,000.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 6th. Loop Capital boosted their price target on Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a report on Friday, May 1st. Rosenblatt Securities lifted their price objective on Lumentum from $900.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Fourteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,021.95.

Lumentum Stock Performance

The company has a market cap of $62.40 billion, a price-to-earnings ratio of 148.52 and a beta of 1.48. The stock’s fifty day simple moving average is $882.31 and its two-hundred day simple moving average is $698.09. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.97 and a current ratio of 1.14.

Lumentum (NASDAQ:LITE) last issued 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. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. During the same period last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Equities research analysts anticipate that Lumentum Holdings Inc. will post 6.4 EPS for the current year.

Insider Buying and Selling

In other news, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider directly owned 81,488 shares of the company’s stock, valued at $77,735,477.60. The trade was a 3.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 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. Also, insider Vincent Retort sold 3,183 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $85,438,623.85. This represents a 3.43% decrease in their position. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 41,260 shares of company stock worth $38,859,220. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership grew its stake in Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after purchasing an additional 1,545,199 shares in the last quarter. Norges Bank purchased a new position in shares of Lumentum during the 4th quarter valued at approximately $474,495,000. Value Aligned Research Advisors LLC acquired a new stake in shares of Lumentum during the fourth quarter worth approximately $432,062,000. Situational Awareness LP grew its position in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock worth $366,555,000 after buying an additional 871,249 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

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.