Lumentum (NASDAQ:LITE) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of Lumentum (NASDAQ:LITE) from a buy rating to a hold rating in a research report released on Saturday.

LITE has been the subject of a number of other research reports. Stifel Nicolaus lifted their price target on Lumentum from $100.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. Citigroup assumed coverage on Lumentum in a research note on Friday, August 29th. They set a “buy” rating and a $165.00 price objective for the company. KGI Securities assumed coverage on Lumentum in a research report on Monday, August 18th. They issued an “outperform” rating for the company. Raymond James Financial cut Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price objective on the stock. in a report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price objective (up from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Lumentum Trading Down 1.0%

LITE opened at $199.58 on Friday. Lumentum has a 52 week low of $45.65 and a 52 week high of $214.50. The stock’s fifty day moving average is $162.16 and its two-hundred day moving average is $114.41. The company has a market capitalization of $14.15 billion, a P/E ratio of 867.74 and a beta of 1.48. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The business had revenue of $480.70 million for the quarter, compared to the consensus estimate of $465.27 million. During the same period last year, the business posted $0.06 EPS. The business’s revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. Analysts forecast that Lumentum will post 0.03 earnings per share for the current year.

Insider Activity

In related news, CFO Wajid Ali sold 2,526 shares of the firm’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total value of $314,209.14. Following the completion of the sale, the chief financial officer owned 77,087 shares in the company, valued at $9,588,851.93. This trade represents a 3.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Yuen Wupen sold 3,281 shares of the firm’s stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $124.86, for a total transaction of $409,665.66. Following the completion of the sale, the insider owned 101,273 shares of the company’s stock, valued at approximately $12,644,946.78. The trade was a 3.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 18,439 shares of company stock worth $2,206,997 in the last three months. 0.43% of the stock is currently owned by company insiders.

Institutional Trading of Lumentum

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Lumentum by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company’s stock worth $463,198,000 after acquiring an additional 47,811 shares during the period. PointState Capital LP bought a new stake in shares of Lumentum during the 1st quarter valued at about $213,503,000. Hood River Capital Management LLC grew its position in Lumentum by 82.1% in the 2nd quarter. Hood River Capital Management LLC now owns 2,206,453 shares of the technology company’s stock worth $209,745,000 after purchasing an additional 994,551 shares during the last quarter. Atreides Management LP grew its position in Lumentum by 6.8% in the 1st quarter. Atreides Management LP now owns 1,875,257 shares of the technology company’s stock worth $116,904,000 after purchasing an additional 119,938 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Lumentum by 1.1% during the first quarter. Alliancebernstein L.P. now owns 1,731,041 shares of the technology company’s stock valued at $107,913,000 after purchasing an additional 19,085 shares during the last quarter. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.