Lumentum (NASDAQ:LITE) Shares Down 2.7% – Here’s Why

Lumentum Holdings Inc. (NASDAQ:LITE) shares traded down 2.7% on Thursday . The stock traded as low as $818.89 and last traded at $847.37. 3,284,938 shares traded hands during trading, a decline of 41% from the average session volume of 5,602,869 shares. The stock had previously closed at $870.58.

Analysts Set New Price Targets

Several brokerages recently issued reports on LITE. Northland Securities boosted their price target on Lumentum from $1,000.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Morgan Stanley upped their price objective on shares of Lumentum from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 12th. JPMorgan Chase & Co. raised their target price on shares of Lumentum from $1,165.00 to $1,280.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 12th. Mizuho lifted their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the company an “outperform” rating in a report on Wednesday, August 12th. Finally, BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,053.83.

Lumentum Price Performance

The company has a 50-day simple moving average of $813.66 and a 200-day simple moving average of $813.27. The stock has a market cap of $76.01 billion, a PE ratio of -10.31 and a beta of 1.53. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.68 and a quick ratio of 1.40.

Lumentum (NASDAQ:LITE) last issued its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. During the same period in the previous year, the firm earned $0.88 EPS. The business’s revenue was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. Sell-side analysts anticipate that Lumentum Holdings Inc. will post 19.76 EPS for the current fiscal year.

Insider Activity at Lumentum

In other news, SVP Jae Kim sold 12,000 shares of Lumentum stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total transaction of $10,230,960.00. Following the completion of the sale, the senior vice president directly owned 37,804 shares in the company, valued at approximately $32,230,934.32. This trade represents a 24.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $895.00, for a total value of $447,500.00. Following the sale, the insider directly owned 118,127 shares in the company, valued at $105,723,665. This trade represents a 0.42% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 64,147 shares of company stock worth $54,950,611 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Lumentum

Several large investors have recently bought and sold shares of LITE. CYBER HORNET ETFs LLC raised its stake in shares of Lumentum by 7.2% during the 2nd quarter. CYBER HORNET ETFs LLC now owns 209 shares of the technology company’s stock worth $179,000 after buying an additional 14 shares during the last quarter. Hilltop National Bank grew its stake in Lumentum by 26.8% in the 2nd quarter. Hilltop National Bank now owns 71 shares of the technology company’s stock valued at $61,000 after acquiring an additional 15 shares during the last quarter. Sachetta LLC grew its stake in Lumentum by 118.8% in the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock valued at $25,000 after acquiring an additional 19 shares during the last quarter. Toth Financial Advisory Corp increased its holdings in Lumentum by 127.3% during the 2nd quarter. Toth Financial Advisory Corp now owns 50 shares of the technology company’s stock valued at $43,000 after acquiring an additional 28 shares in the last quarter. Finally, Versant Capital Management Inc increased its holdings in Lumentum by 39.5% during the 2nd quarter. Versant Capital Management Inc now owns 106 shares of the technology company’s stock valued at $91,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.