Citigroup Increases Lumentum (NASDAQ:LITE) Price Target to $1,100.00

Lumentum (NASDAQ:LITE) had its price target lifted by equities research analysts at Citigroup from $800.00 to $1,100.00 in a report released on Tuesday,MarketScreener reports. The firm presently has a “buy” rating on the technology company’s stock. Citigroup’s target price indicates a potential upside of 19.64% from the company’s previous close.

Other research analysts have also issued reports about the company. Mizuho upped their target price on Lumentum from $750.00 to $930.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 8th. Needham & Company LLC boosted their price target on Lumentum from $880.00 to $1,040.00 and gave the company a “buy” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Lumentum in a research report on Monday, December 29th. TD Cowen upped their price target on Lumentum from $675.00 to $875.00 and gave the stock a “hold” rating in a report on Friday, April 10th. Finally, Morgan Stanley raised their price objective on shares of Lumentum from $595.00 to $710.00 and gave the stock an “equal weight” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $757.25.

Lumentum Stock Performance

LITE stock opened at $919.43 on Tuesday. The firm has a 50 day simple moving average of $716.61 and a 200 day simple moving average of $447.12. Lumentum has a 52 week low of $50.46 and a 52 week high of $960.00. The stock has a market cap of $65.65 billion, a P/E ratio of 281.85 and a beta of 1.38. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company’s revenue was up 65.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Research analysts anticipate that Lumentum will post 5.87 earnings per share for the current fiscal year.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 3,157 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total transaction of $1,698,466.00. Following the sale, the insider directly owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. This represents a 3.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Vincent Retort sold 45,026 shares of Lumentum stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the completion of the transaction, the insider owned 102,455 shares of the company’s stock, valued at $60,583,690.60. This trade represents a 30.53% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,775 shares of company stock valued at $38,851,343 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Institutional Trading of Lumentum

A number of hedge funds and other institutional investors have recently made changes to their positions in LITE. Louisiana State Employees Retirement System bought a new position in shares of Lumentum in the first quarter worth about $2,530,000. Silver Oak Securities Incorporated bought a new position in shares of Lumentum in the 1st quarter valued at about $408,000. Kestra Private Wealth Services LLC bought a new stake in shares of Lumentum during the first quarter worth approximately $835,000. Ritholtz Wealth Management grew its holdings in Lumentum by 18.1% during the 1st quarter. Ritholtz Wealth Management now owns 815 shares of the technology company’s stock worth $573,000 after acquiring an additional 125 shares during the period. Finally, Hilton Head Capital Partners LLC acquired a new position in shares of Lumentum in the 1st quarter valued at $25,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.

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.