Lumentum (NASDAQ:LITE) Shares Climb 1.3% – Still a Buy?

by · The Cerbat Gem

Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) traded up 1.3% during trading on Monday. The stock traded as high as $874.41 and last traded at $834.51. Approximately 4,058,795 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 5,488,946 shares. The stock had previously closed at $824.13.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LITE. Bank of America reduced their price objective on shares of Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating for the company in a research report on Wednesday, August 12th. Evercore assumed coverage on shares of Lumentum in a research report on Monday, August 31st. They issued an “outperform” rating and a $1,100.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $1,300.00 target price on shares of Lumentum in a research note on Monday, October 5th. Wolfe Research restated an “outperform” rating on shares of Lumentum in a research report on Friday, August 21st. Finally, UBS Group set a $820.00 price target on shares of Lumentum in a research report on Wednesday, August 12th. Sixteen analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Lumentum currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,080.83.

Get Our Latest Stock Analysis on Lumentum

Lumentum Trading Down 1.4%

The company has a 50 day moving average of $931.93 and a 200 day moving average of $878.96. 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 market capitalization of $74.51 billion, a price-to-earnings ratio of -10.00 and a beta of 1.53.

Lumentum (NASDAQ:LITE – Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $987.70 million. During the same quarter last year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 19.79 EPS for the current fiscal year.

Insider Transactions at Lumentum

In other news, SVP Jae Kim sold 12,000 shares of the firm’s stock in a transaction dated Tuesday, August 25th. The shares were sold at an average price of $852.58, for a total value of $10,230,960.00. Following the transaction, the senior vice president directly owned 37,804 shares of the company’s stock, valued at approximately $32,230,934.32. This trade represents a 24.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Wajid Ali sold 24,542 shares of the business’s stock in a transaction dated Thursday, October 1st. The stock was sold at an average price of $1,048.50, for a total transaction 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. In the last quarter, insiders sold 94,496 shares of company stock valued at $85,978,498. Company insiders own 0.28% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Hilton Head Capital Partners LLC acquired a new stake in Lumentum during the 1st quarter worth approximately $25,000. Sachetta LLC grew its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after acquiring an additional 19 shares in the last quarter. Burkett Financial Services LLC acquired a new position in shares of Lumentum in the third quarter worth $28,000. Meeder Asset Management Inc. acquired a new position in shares of Lumentum in the second quarter worth $40,000. Finally, Keating Financial Advisory Services Inc. purchased a new stake in shares of Lumentum during the second quarter worth $41,000. 94.05% of the stock is owned by hedge funds and other institutional investors.

About Lumentum

(Get Free Report)

Lumentum Holdings Inc is a technology company that designs and manufactures optical and photonic products for communications networks, industrial applications, and consumer electronics. Its portfolio includes optical components, modules, and subsystems used in fiber-optic networks, data centers, cloud computing infrastructure, telecommunications equipment, and high-speed connectivity systems.

The company also develops laser products for applications such as industrial processing, sensing, three-dimensional imaging, and other specialized commercial and consumer uses.

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