Lumentum (NASDAQ:LITE) Receives Buy Rating from Needham & Company LLC

Lumentum (NASDAQ:LITE)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $1,040.00 price target on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 16.15% from the stock’s current price.

A number of other equities analysts also recently commented on LITE. Citigroup boosted their price objective on shares of Lumentum from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, April 21st. JPMorgan Chase & Co. upped their price target on Lumentum from $950.00 to $1,130.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th. BNP Paribas Exane upped their price target on Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Craig Hallum upped their price target on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $1,014.00 price target on shares of Lumentum in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,021.95.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $895.40 on Tuesday. The company has a market capitalization of $69.66 billion, a price-to-earnings ratio of 165.82 and a beta of 1.47. Lumentum has a 52 week low of $80.39 and a 52 week high of $1,085.68. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The firm has a 50 day moving average of $884.42 and a 200 day moving average of $614.94.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during 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%. Lumentum’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, sell-side analysts predict that Lumentum will post 6.49 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In related news, insider Yuen Wupen sold 3,210 shares of the company’s stock in a transaction on 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. This represents a 3.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, Director Ian Small sold 4,954 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $868.07, for a total transaction of $4,300,418.78. Following the completion of the sale, the director directly owned 21,008 shares in the company, valued at approximately $18,236,414.56. The trade was a 19.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 41,260 shares of company stock worth $38,859,220 over the last 90 days. Insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Lumentum

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LITE. Hilton Head Capital Partners LLC acquired a new stake in Lumentum during the 1st quarter worth about $25,000. Sachetta LLC boosted its position in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Lumentum by 363.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock worth $27,000 after purchasing an additional 131 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in Lumentum in the 4th quarter worth approximately $28,000. Finally, Truvestments Capital LLC boosted its position in Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after purchasing an additional 57 shares in the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Company Profile

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.