Lumentum (NASDAQ:LITE) Sets New 12-Month High – Here’s What Happened

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $327.87 and last traded at $326.4650, with a volume of 2389811 shares changing hands. The stock had previously closed at $302.98.

Analysts Set New Price Targets

LITE has been the topic of a number of research reports. Rosenblatt Securities raised their target price on shares of Lumentum to $380.00 and gave the stock a “buy” rating in a research report on Thursday. KGI Securities started coverage on Lumentum in a research note on Monday, August 18th. They issued an “outperform” rating on the stock. UBS Group lifted their target price on Lumentum from $78.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, August 13th. Barclays increased their price target on Lumentum from $165.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 6th. Finally, Bank of America upgraded Lumentum from an “underperform” rating to a “neutral” rating and raised their price target for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $215.00.

Lumentum Price Performance

The company has a market cap of $23.26 billion, a PE ratio of 220.94 and a beta of 1.53. The company has a debt-to-equity ratio of 2.77, a current ratio of 1.37 and a quick ratio of 1.02. The stock’s 50-day moving average is $212.19 and its 200 day moving average is $145.03.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, November 4th. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.07. The business had revenue of $533.80 million for the quarter, compared to the consensus estimate of $525.10 million. Lumentum had a return on equity of 4.62% and a net margin of 6.11%.The business’s quarterly revenue was up 58.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. Lumentum has set its Q2 2026 guidance at 1.300-1.500 EPS. On average, equities analysts anticipate that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Yuen Wupen sold 822 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $258.96, for a total transaction of $212,865.12. Following the sale, the insider owned 95,077 shares in the company, valued at approximately $24,621,139.92. The trade was a 0.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Isaac Hosojiro Harris sold 7,200 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $243.32, for a total transaction of $1,751,904.00. Following the transaction, the director owned 9,764 shares in the company, valued at approximately $2,375,776.48. This trade represents a 42.44% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,612 shares of company stock valued at $7,317,398. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Lumentum by 363.9% during the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after buying an additional 131 shares during the last quarter. Danske Bank A S acquired a new stake in Lumentum during the 3rd quarter worth about $33,000. FNY Investment Advisers LLC purchased a new stake in Lumentum during the 2nd quarter valued at about $38,000. SVB Wealth LLC purchased a new stake in Lumentum during the 1st quarter valued at about $40,000. Finally, MAI Capital Management increased its holdings in shares of Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock valued at $43,000 after purchasing an additional 96 shares during the period. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.