Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) shares rose 3.9% on Monday . The company traded as high as $998.50 and last traded at $957.24. Approximately 5,236,470 shares traded hands during trading, a decline of 13% from the average daily volume of 6,005,174 shares. The stock had previously closed at $921.56.
Analyst Ratings Changes
A number of research analysts recently weighed in on LITE shares. Weiss Ratings restated a “hold (c)” rating on shares of Lumentum in a report on Tuesday, April 21st. Jefferies Financial Group restated a “buy” rating and set a $1,200.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. UBS Group raised their price objective on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Mizuho set a $1,100.00 price objective on shares of Lumentum in a report on Wednesday, May 6th. Finally, Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $1,021.95.
Read Our Latest Analysis on Lumentum
Lumentum Price Performance
Lumentum (NASDAQ:LITE – Get Free Report) last posted its quarterly earnings data on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The firm’s quarterly revenue was up 90.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 6.49 earnings per share for the current fiscal year.
Insider Transactions at Lumentum
In other news, insider Yuen Wupen sold 3,210 shares of Lumentum stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,062,179.50. Following the completion of the transaction, the insider owned 81,488 shares in the company, valued at $77,735,477.60. This trade represents a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $953.95, for a total transaction of $3,036,422.85. Following the completion of the transaction, the insider owned 89,563 shares of the company’s stock, valued at $85,438,623.85. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Lumentum
Several large investors have recently modified their holdings of the business. Sachetta LLC increased its stake in shares of Lumentum by 118.8% in the first quarter. Sachetta LLC now owns 35 shares of the technology company’s stock worth $25,000 after purchasing an additional 19 shares in the last quarter. Hilton Head Capital Partners LLC purchased a new position in shares of Lumentum in the first quarter worth about $25,000. Abel Hall LLC increased its stake in shares of Lumentum by 5.5% in the first quarter. Abel Hall LLC now owns 693 shares of the technology company’s stock worth $487,000 after purchasing an additional 36 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in shares of Lumentum by 5.1% in the first quarter. Checchi Capital Advisers LLC now owns 790 shares of the technology company’s stock worth $555,000 after purchasing an additional 38 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its stake in shares of Lumentum by 2.9% in the first quarter. 180 Wealth Advisors LLC now owns 1,553 shares of the technology company’s stock worth $1,092,000 after purchasing an additional 44 shares in the last quarter. Hedge funds and other institutional investors 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.
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