Lumentum (NASDAQ:LITE) Shares Up 5.1% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE)’s share price shot up 5.1% on Thursday . The stock traded as high as $921.37 and last traded at $902.32. 6,033,751 shares changed hands during mid-day trading, an increase of 2% from the average session volume of 5,914,597 shares. The stock had previously closed at $858.32.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LITE. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research note on Friday. Citigroup increased their target price on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. Stifel Nicolaus increased their target price on Lumentum to $800.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. JPMorgan Chase & Co. increased their target price on Lumentum to $950.00 and gave the company an “overweight” rating in a research note on Thursday, April 9th. Finally, Northland Securities set a $1,000.00 target price on Lumentum in a research note on Monday, April 20th. Eleven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $757.25.

Lumentum Trading Up 5.3%

The firm has a market capitalization of $67.83 billion, a PE ratio of 291.39 and a beta of 1.38. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $760.12 and a 200 day simple moving average of $481.86.

Lumentum (NASDAQ:LITE) last released its quarterly 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 firm had revenue of $665.50 million for the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company’s revenue for the quarter was up 65.5% on a year-over-year basis. During the same period last year, the business posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 5.87 earnings per share for the current fiscal year.

Insider Transactions at Lumentum

In other news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer directly owned 66,287 shares in the company, valued at $45,812,934.31. This trade represents a 7.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the completion of the transaction, the insider owned 102,455 shares in the company, valued at approximately $60,583,690.60. This trade represents a 30.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 65,775 shares of company stock valued at $38,851,343. Corporate insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Lumentum

Institutional investors and hedge funds have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new position in Lumentum in the 1st quarter worth $25,000. Sachetta LLC raised its holdings 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 during the period. EverSource Wealth Advisors LLC raised its holdings 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 during the period. V Square Quantitative Management LLC bought a new position in Lumentum in the 4th quarter worth $28,000. Finally, Truvestments Capital LLC raised its holdings 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 during the period. 94.05% of the stock is currently owned by hedge funds and other institutional investors.

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.