Lumentum (NASDAQ:LITE) Hits New 52-Week High – Time to Buy?

Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $780.00 and last traded at $734.4710, with a volume of 2050036 shares. The stock had previously closed at $700.91.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Lumentum to $520.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Mizuho upped their target price on shares of Lumentum to $645.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 17th. Northland Securities set a $350.00 price target on Lumentum in a report on Wednesday, December 3rd. Stifel Nicolaus boosted their price objective on Lumentum to $480.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Finally, Bank of America raised their target price on Lumentum to $520.00 and gave the company a “neutral” rating in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average price target of $458.00.

Lumentum Price Performance

The company has a market cap of $53.67 billion, a price-to-earnings 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 quick ratio of 0.45 and a current ratio of 0.61.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results 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. The firm had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The firm’s quarterly revenue was up 65.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, equities research analysts forecast that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity at Lumentum

In related news, Director Penny Herscher sold 4,849 shares of Lumentum stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the transaction, the director owned 6,057 shares of the company’s stock, valued at approximately $3,243,402.36. This trade represents a 44.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Vincent Retort sold 45,026 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $591.32, for a total value of $26,624,774.32. Following the sale, the insider owned 102,455 shares in the company, valued at approximately $60,583,690.60. The trade was a 30.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,473 shares of company stock worth $35,186,972 in the last quarter. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Lumentum

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in Lumentum by 7,168.8% in the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock valued at $58,958,000 after buying an additional 357,367 shares in the last quarter. FengHe Fund Management Pte. Ltd. acquired a new stake in shares of Lumentum in the 3rd quarter valued at $71,771,000. Pacer Advisors Inc. acquired a new stake in shares of Lumentum in the 3rd quarter valued at $1,512,000. Headwater Capital Co Ltd bought a new stake in shares of Lumentum in the 3rd quarter worth about $20,339,000. Finally, Braun Stacey Associates Inc. acquired a new stake in shares of Lumentum during the 3rd quarter worth about $15,125,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

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.