Lumentum (NASDAQ:LITE) Price Target Raised to $1,232.00

Lumentum (NASDAQ:LITE) had its price objective lifted by Stifel Nicolaus from $1,100.00 to $1,232.00 in a research note published on Monday morning, Marketbeat.com reports. The firm currently has a buy rating on the technology company’s stock.

LITE has been the topic of a number of other research reports. Mizuho boosted their price objective on shares of Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Rosenblatt Securities restated a “buy” rating and issued a $1,300.00 target price on shares of Lumentum in a report on Wednesday, September 23rd. Wolfe Research reiterated an “outperform” rating on shares of Lumentum in a report on Friday, August 21st. Bank of America reduced their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. Finally, Evercore began coverage on shares of Lumentum in a research note on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Lumentum presently has an average rating of “Moderate Buy” and a consensus target price of $1,078.75.

Lumentum Price Performance

Shares of Lumentum stock opened at $1,111.07 on Monday. The stock has a market cap of $99.66 billion, a price-to-earnings ratio of -13.52 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68. The stock has a 50 day moving average price of $908.79 and a 200-day moving average price of $865.90. Lumentum has a one year low of $147.81 and a one year high of $1,137.20.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the previous year, the company posted $0.88 EPS. The company’s revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Equities analysts expect that Lumentum will post 19.78 EPS for the current year.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 307 shares of the stock in a transaction that occurred on Tuesday, September 29th. The stock was sold at an average price of $945.00, for a total value of $290,115.00. Following the transaction, the insider owned 108,320 shares of the company’s stock, valued at $102,362,400. This represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of the firm’s stock in a transaction on Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total value of $25,732,287.00. Following the transaction, the chief financial officer owned 75,074 shares in the company, valued at $78,715,089. The trade was a 24.64% decrease in their ownership of the stock. 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. Insiders sold 94,496 shares of company stock valued at $85,978,498 in the last quarter. 0.43% of the stock is owned by company insiders.

Institutional Trading of Lumentum

Institutional investors and hedge funds have recently made changes to their positions in the company. Hilton Head Capital Partners LLC purchased a new stake in Lumentum in the first quarter worth about $25,000. Sachetta LLC increased its position in Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after purchasing an additional 19 shares during the period. Burkett Financial Services LLC bought a new stake in shares of Lumentum in the 3rd quarter valued at about $28,000. Harbour Investments Inc. lifted its position in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company’s stock worth $34,000 after purchasing an additional 81 shares during the period. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Lumentum in the 2nd quarter worth approximately $40,000. 94.05% of the stock is currently owned by institutional investors.

About Lumentum

Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.

The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.