Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report)’s share price fell 6.7% during mid-day trading on Monday . The company traded as low as $697.88 and last traded at $711.96. 3,719,598 shares were traded during mid-day trading, a decline of 35% from the average session volume of 5,752,654 shares. The stock had previously closed at $762.99.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on LITE shares. Rosenblatt Securities lifted their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and issued a $1,040.00 price target on shares of Lumentum in a research report on Tuesday, June 9th. Craig Hallum boosted their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. Zacks Research downgraded shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, UBS Group lifted their target price on shares of Lumentum from $455.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Lumentum has an average rating of “Moderate Buy” and an average price target of $1,012.67.
Read Our Latest Stock Analysis on Lumentum
Lumentum Stock Performance
Lumentum (NASDAQ:LITE – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.27 by $0.10. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. During the same period in the previous year, the firm posted $0.57 EPS. Lumentum’s revenue was up 90.1% on a year-over-year basis. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. Analysts anticipate that Lumentum Holdings Inc. will post 6.42 EPS for the current fiscal year.
Insiders Place Their Bets
In other Lumentum news, CFO Wajid Ali sold 2,487 shares of Lumentum stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the transaction, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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, SVP Jae Kim sold 1,422 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the completion of the transaction, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last three months, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On Lumentum
Large investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in Lumentum by 18.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares during the last quarter. Geode Capital Management LLC boosted its stake in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after acquiring an additional 123,265 shares during the period. Situational Awareness LP raised its position in shares of Lumentum by 210.9% during the 4th 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. Norges Bank bought a new stake in shares of Lumentum in the 4th quarter worth approximately $474,495,000. Finally, Value Aligned Research Advisors LLC acquired a new position in Lumentum during the 4th quarter valued at approximately $432,062,000. 94.05% of the stock is 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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