Lumentum (NASDAQ:LITE) Announces Earnings Results

Lumentum (NASDAQ:LITE) released its quarterly earnings results on Tuesday. The technology company reported $1.10 EPS for the quarter, beating the consensus estimate of $1.03 by $0.07, Briefing.com reports. The firm had revenue of $533.80 million during the quarter, compared to analyst estimates of $525.10 million. Lumentum had a net margin of 6.11% and a return on equity of 4.41%. The business’s revenue for the quarter was up 58.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. Lumentum updated its Q2 2026 guidance to 1.300-1.500 EPS.

Lumentum Stock Up 7.1%

Shares of LITE traded up $16.51 during midday trading on Thursday, reaching $249.26. 5,410,012 shares of the company were exchanged, compared to its average volume of 2,891,067. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. Lumentum has a 1-year low of $45.65 and a 1-year high of $258.35. The stock has a 50-day moving average price of $165.57 and a 200-day moving average price of $116.19. The company has a market cap of $17.68 billion, a price-to-earnings ratio of 166.18 and a beta of 1.48.

Analysts Set New Price Targets

Several research firms recently weighed in on LITE. Wolfe Research restated an “outperform” rating and set a $240.00 price target on shares of Lumentum in a report on Wednesday. Susquehanna boosted their price target on Lumentum from $140.00 to $190.00 and gave the stock a “positive” rating in a research report on Wednesday, October 22nd. Citigroup initiated coverage on Lumentum in a research note on Friday, August 29th. They issued a “buy” rating and a $165.00 price target on the stock. Needham & Company LLC increased their price objective on Lumentum from $180.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Lumentum in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.67.

Insider Buying and Selling

In related news, SVP Jae Kim sold 4,507 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $116.88, for a total transaction of $526,778.16. Following the completion of the sale, the senior vice president directly owned 33,465 shares in the company, valued at approximately $3,911,389.20. This trade represents a 11.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 directly owned 77,087 shares in the company, valued at approximately $9,588,851.93. This represents a 3.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 18,198 shares of company stock valued at $2,180,887 over the last quarter. Company insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Advisors Asset Management Inc. raised its stake in shares of Lumentum by 36.8% in the first quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the last quarter. State of Wyoming acquired a new position in shares of Lumentum during the 2nd quarter worth about $209,000. Baird Financial Group Inc. acquired a new position in shares of Lumentum during the 2nd quarter worth about $217,000. Sender Co & Partners Inc. bought a new position in Lumentum during the second quarter worth about $247,000. Finally, Corient Private Wealth LLC bought a new position in Lumentum in the 2nd quarter valued at about $268,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Company Profile

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.