Lumentum (NASDAQ:LITE) Trading Down 2.1% on Analyst Downgrade
by Renee Jackson · The Cerbat GemLumentum Holdings Inc. (NASDAQ:LITE – Get Free Report)’s share price traded down 2.1% on Tuesday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $836.00 and last traded at $852.79. 5,384,125 shares were traded during trading, a decline of 11% from the average session volume of 6,054,062 shares. The stock had previously closed at $871.18.
LITE has been the topic of several other reports. TD Cowen increased their price objective on shares of Lumentum from $675.00 to $875.00 and gave the company a “hold” rating in a report on Friday, April 10th. UBS Group increased their price objective on shares of Lumentum from $215.00 to $455.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Citigroup increased their price objective on shares of Lumentum to $560.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Lumentum in a report on Monday, December 29th. Finally, Bank of America increased their price objective on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $629.44.
View Our Latest Stock Analysis on Lumentum
Insider Activity
In other Lumentum news, insider Yuen Wupen sold 3,157 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $538.00, for a total value of $1,698,466.00. Following the sale, the insider directly owned 88,439 shares in the company, valued at approximately $47,580,182. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Vincent Retort sold 3,441 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the completion of the sale, the insider owned 95,975 shares in the company, valued at approximately $52,381,235.50. This trade represents a 3.46% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 65,775 shares of company stock valued at $38,851,343. 0.43% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Lumentum
Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock worth $1,217,930,000 after acquiring an additional 41,975 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after acquiring an additional 291,591 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lumentum by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock worth $521,563,000 after acquiring an additional 123,265 shares in the last quarter. Situational Awareness LP increased its position in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Lumentum during the fourth quarter worth $474,495,000. 94.05% of the stock is currently owned by institutional investors and hedge funds.
Lumentum Price Performance
The company’s 50-day moving average price is $695.67 and its 200-day moving average price is $429.91. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45. The company has a market cap of $63.63 billion, a P/E ratio of 273.38 and a beta of 1.38.
Lumentum (NASDAQ:LITE – Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.26. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The company had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. During the same quarter in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.
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.