Lumentum (NASDAQ:LITE) Stock Price Down 3.4% – What’s Next?

Lumentum Holdings Inc. (NASDAQ:LITE) fell 3.4% during trading on Wednesday . The company traded as low as $800.56 and last traded at $824.01. 5,966,547 shares changed hands during trading, a decline of 1% from the average session volume of 6,054,511 shares. The stock had previously closed at $852.79.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LITE. Zacks Research lowered Lumentum from a “strong-buy” rating to a “hold” rating in a research note on Monday. Barclays increased their price objective on Lumentum to $750.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Lumentum in a research note on Monday, December 29th. TD Cowen increased their price objective on Lumentum from $675.00 to $875.00 and gave the company a “hold” rating in a research note on Friday, April 10th. Finally, Susquehanna increased their price objective on Lumentum to $550.00 and gave the company a “positive” rating in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and an average target price of $629.44.

Lumentum Price Performance

The business has a 50 day moving average of $703.41 and a 200 day moving average of $433.11. The company has a market cap of $63.84 billion, a PE ratio of 274.25 and a beta of 1.38. 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) last announced its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million during the quarter, compared to analyst estimates of $646.74 million. During the same quarter last year, the firm posted $0.42 earnings per share. The firm’s revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, research analysts predict that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

Insider Transactions at Lumentum

In other Lumentum news, CFO Wajid Ali sold 5,302 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was 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 approximately $45,812,934.31. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Penny Herscher sold 4,849 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the director owned 6,057 shares in the company, valued at $3,243,402.36. The trade was a 44.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 65,775 shares of company stock worth $38,851,343. Corporate insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arrowstreet Capital Limited Partnership boosted its position in shares of Lumentum by 8,579.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company’s stock valued at $254,350,000 after acquiring an additional 1,545,199 shares during the last quarter. Norges Bank purchased a new stake in Lumentum in the fourth quarter worth $474,495,000. Value Aligned Research Advisors LLC purchased a new stake in Lumentum in the fourth quarter worth $432,062,000. Situational Awareness LP increased its stake in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after purchasing an additional 880,800 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in shares of Lumentum by 707.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company’s stock valued at $366,555,000 after buying an additional 871,249 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Company Profile

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.