Lumentum (NASDAQ:LITE) Hits New 1-Year High – Here’s What Happened

by · The Markets Daily

Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $780.00 and last traded at $734.4710, with a volume of 2050036 shares changing hands. The stock had previously closed at $700.91.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wolfe Research reissued an “outperform” rating and set a $240.00 price objective on shares of Lumentum in a report on Wednesday, November 5th. Susquehanna raised their price target on Lumentum to $550.00 and gave the stock a “positive” rating in a research report on Wednesday, February 4th. Northland Securities set a $350.00 price objective on Lumentum in a report on Wednesday, December 3rd. Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Finally, Stifel Nicolaus increased their price target on shares of Lumentum to $480.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $458.00.

View Our Latest Analysis on LITE

Lumentum Price Performance

The company has a market cap of $53.67 billion, a P/E ratio of 231.14 and a beta of 1.51. The company’s 50-day moving average price is $454.79 and its 200-day moving average price is $293.84. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE – Get Free Report) last released its 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 during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS. 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.

Insider Buying and Selling

In related news, insider Yuen Wupen sold 3,157 shares of Lumentum stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $538.00, for a total value of $1,698,466.00. Following the sale, the insider owned 88,439 shares of the company’s stock, valued at approximately $47,580,182. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vincent Retort sold 45,026 shares of the stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the transaction, the insider directly owned 102,455 shares of the company’s stock, valued at $60,583,690.60. This trade represents a 30.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 60,473 shares of company stock worth $35,186,972. 0.43% of the stock is owned by insiders.

Institutional Trading of Lumentum

Several institutional investors and hedge funds have recently added to or reduced their stakes in LITE. EverSource Wealth Advisors LLC increased its stake in shares of Lumentum by 363.9% during 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 last quarter. V Square Quantitative Management LLC bought a new position in Lumentum during the fourth quarter worth about $28,000. Truvestments Capital LLC increased its position in Lumentum by 300.0% during the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock worth $28,000 after buying an additional 57 shares during the last quarter. Triumph Capital Management bought a new stake in Lumentum in the fourth quarter valued at approximately $30,000. Finally, Danske Bank A S acquired a new stake in shares of Lumentum in the third quarter valued at approximately $33,000. 94.05% of the stock is owned by institutional investors.

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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