Lumentum (NASDAQ:LITE) CFO Sells $3,664,371.26 in Stock

Lumentum Holdings Inc. (NASDAQ:LITE) CFO Wajid Ali sold 5,302 shares of Lumentum stock in a transaction on Friday, February 27th. The shares were sold at an average price of $691.13, for a total value of $3,664,371.26. Following the completion of the sale, the chief financial officer directly owned 66,287 shares of the company’s stock, valued at $45,812,934.31. This trade represents a 7.41% 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.

Lumentum Trading Up 11.7%

Shares of LITE traded up $82.34 during trading hours on Monday, hitting $783.25. 6,867,488 shares of the stock traded hands, compared to its average volume of 5,189,925. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum Holdings Inc. has a 1-year low of $45.65 and a 1-year high of $783.80. The firm has a market capitalization of $55.92 billion, a PE ratio of 240.26 and a beta of 1.51. The business has a fifty day moving average of $454.79 and a 200-day moving average of $293.84.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 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 analyst estimates 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 period last year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Lumentum by 363.9% in the third quarter. EverSource Wealth Advisors LLC now owns 167 shares of the technology company’s stock valued at $27,000 after purchasing an additional 131 shares during the last quarter. V Square Quantitative Management LLC acquired a new position in Lumentum during the fourth quarter worth $28,000. Truvestments Capital LLC grew its position in Lumentum by 300.0% in the fourth 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. Triumph Capital Management acquired a new stake in Lumentum in the 4th quarter valued at $30,000. Finally, Danske Bank A S acquired a new stake in Lumentum in the 3rd quarter valued at $33,000. 94.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LITE shares. 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. B. Riley Financial raised Lumentum from a “neutral” rating to a “buy” rating and increased their price target for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. Bank of America raised their price target on Lumentum to $520.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. Wolfe Research reiterated an “outperform” rating and issued a $240.00 price objective on shares of Lumentum in a report on Wednesday, November 5th. Finally, Northland Securities set a $350.00 target price on Lumentum in a research note on Wednesday, December 3rd. Two 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $478.00.

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.