Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) shares rose 3.6% on Friday . The stock traded as high as $934.26 and last traded at $921.56. Approximately 4,493,043 shares changed hands during trading, a decline of 25% from the average daily volume of 6,011,414 shares. The stock had previously closed at $889.59.
Analyst Ratings Changes
Several equities research analysts recently issued reports on LITE shares. BNP Paribas Exane lifted their price objective on Lumentum from $1,040.00 to $1,300.00 in a report on Wednesday, May 6th. Citic Securities increased their target price on Lumentum from $620.00 to $1,186.00 in a report on Monday, May 11th. B. Riley Financial restated a “buy” rating on shares of Lumentum in a research report on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Lumentum in a research report on Tuesday, April 21st. Finally, Citigroup increased their price objective on Lumentum from $800.00 to $1,100.00 and gave the company a “buy” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.95.
Read Our Latest Analysis on Lumentum
Lumentum Stock Performance
Lumentum (NASDAQ:LITE – Get Free Report) last released its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The business’s revenue was up 90.1% on a year-over-year basis. During the same period last year, the company posted $0.57 EPS. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts anticipate that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.
Insider Activity at Lumentum
In other Lumentum news, Director Isaac Hosojiro Harris sold 4,000 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the sale, the director directly owned 8,400 shares of the company’s stock, valued at $7,224,000. This trade represents a 32.26% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction on Monday, May 18th. The stock was sold at an average price of $953.95, for a total value of $3,062,179.50. Following the transaction, the insider owned 81,488 shares in the company, valued at approximately $77,735,477.60. This represents a 3.79% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 41,260 shares of company stock valued at $38,859,220 in the last three months. Company insiders own 0.43% of the company’s stock.
Institutional Investors Weigh In On Lumentum
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hilton Head Capital Partners LLC purchased a new position in Lumentum during the first quarter worth about $25,000. Sachetta LLC increased its holdings in shares of Lumentum by 118.8% during the 1st quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 131 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Lumentum during the 4th quarter valued at approximately $28,000. Finally, Truvestments Capital LLC raised its position in shares of Lumentum by 300.0% during the 4th quarter. Truvestments Capital LLC now owns 76 shares of the technology company’s stock valued at $28,000 after buying an additional 57 shares during the period. 94.05% of the stock is currently owned by institutional investors and hedge funds.
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.
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