Lumentum (NASDAQ:LITE) Stock Price Down 3.1% – What’s Next?

by · The Markets Daily

Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report)’s stock price traded down 3.1% on Wednesday . The stock traded as low as $763.11 and last traded at $777.17. 4,951,709 shares changed hands during trading, a decline of 17% from the average session volume of 5,955,144 shares. The stock had previously closed at $801.99.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

Analyst Upgrades and Downgrades

A number of research analysts have commented on LITE shares. Needham & Company LLC upped their price objective on Lumentum to $850.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. Susquehanna lifted their target price on Lumentum to $550.00 and gave the stock a “positive” rating in a report on Wednesday, February 4th. Mizuho boosted their target price on shares of Lumentum to $645.00 and gave the company an “outperform” rating in a research report on Tuesday, February 17th. Bank of America upped their price target on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Finally, TD Cowen initiated coverage on shares of Lumentum in a research report on Thursday, March 12th. They set a “hold” rating and a $675.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $575.06.

Check Out Our Latest Stock Analysis on Lumentum

Lumentum Stock Performance

The stock has a market cap of $50.17 billion, a P/E ratio of 215.56 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 stock has a 50 day simple moving average of $574.57 and a 200 day simple moving average of $365.37.

Lumentum (NASDAQ:LITE – Get Free Report) last released its earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.41 by $0.26. The firm had revenue of $665.50 million during 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 was up 65.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

Insider Activity

In other Lumentum news, insider Yuen Wupen sold 3,157 shares of the firm’s stock in a transaction dated 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 transaction, the insider directly owned 88,439 shares of the company’s stock, valued at $47,580,182. This trade represents a 3.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 5,302 shares of the business’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the completion of the transaction, the chief financial officer owned 66,287 shares of the company’s stock, valued at $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is owned by company insiders.

Institutional Trading of Lumentum

Several large investors have recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in Lumentum by 16.0% in the fourth quarter. Parallel Advisors LLC now owns 326 shares of the technology company’s stock valued at $120,000 after acquiring an additional 45 shares during the last quarter. Allworth Financial LP lifted its stake in Lumentum by 6.4% during the third quarter. Allworth Financial LP now owns 784 shares of the technology company’s stock worth $128,000 after purchasing an additional 47 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Lumentum by 5.2% in the 4th quarter. UMB Bank n.a. now owns 968 shares of the technology company’s stock valued at $357,000 after purchasing an additional 48 shares in the last quarter. Truvestments Capital LLC boosted its holdings in shares of Lumentum by 300.0% in the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after purchasing an additional 57 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Lumentum by 0.4% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,130 shares of the technology company’s stock valued at $5,208,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 94.05% of the company’s stock.

About Lumentum

(Get Free Report)

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.

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