Equities researchers at Sanford C. Bernstein started coverage on shares of Lumentum (NASDAQ:LITE – Get Free Report) in a research note issued to investors on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $1,220.00 price target on the technology company’s stock. Sanford C. Bernstein’s price target points to a potential upside of 25.32% from the stock’s current price.
Other equities research analysts have also issued research reports about the stock. Rosenblatt Securities reiterated a “buy” rating and issued a $1,300.00 price objective on shares of Lumentum in a research note on Wednesday, September 23rd. Wolfe Research reaffirmed an “outperform” rating on shares of Lumentum in a report on Friday, August 21st. Deutsche Bank Aktiengesellschaft started coverage on Lumentum in a research report on Monday, August 31st. They set a “buy” rating and a $1,200.00 price target for the company. TD Cowen lifted their price target on Lumentum from $800.00 to $820.00 and gave the stock a “hold” rating in a report on Wednesday, August 12th. Finally, Bank of America cut their price objective on Lumentum from $1,100.00 to $1,000.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Lumentum has a consensus rating of “Moderate Buy” and a consensus target price of $1,073.25.
Read Our Latest Analysis on Lumentum
Lumentum Price Performance
Lumentum (NASDAQ:LITE – Get Free Report) last announced its earnings results on Tuesday, August 11th. The technology company reported $3.23 EPS for the quarter, beating the consensus estimate of $2.97 by $0.26. Lumentum had a negative net margin of 230.15% and a positive return on equity of 26.34%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the prior year, the company posted $0.88 earnings per share. The firm’s revenue for the quarter was up 109.3% on a year-over-year basis. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. As a group, analysts forecast that Lumentum will post 19.78 EPS for the current fiscal year.
Insider Transactions at Lumentum
In related news, insider Vincent Retort sold 38,663 shares of the firm’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $852.59, for a total value of $32,963,687.17. Following the completion of the transaction, the insider directly owned 78,440 shares of the company’s stock, valued at approximately $66,877,159.60. This trade represents a 33.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jae Kim sold 12,000 shares of the stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $852.58, for a total value of $10,230,960.00. Following the sale, the senior vice president owned 37,804 shares in the company, valued at approximately $32,230,934.32. This represents a 24.09% 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. Insiders have sold a total of 69,147 shares of company stock worth $59,481,846 over the last 90 days. 0.43% of the stock is owned by insiders.
Institutional Investors Weigh In On Lumentum
Institutional investors and hedge funds have recently modified their holdings of the company. Financiere des Professionnels Fonds d investissement inc. purchased a new stake in Lumentum in the 1st quarter worth approximately $2,046,000. Styrax Capital LP grew its position in Lumentum by 3.6% during the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company’s stock worth $98,386,000 after buying an additional 4,837 shares in the last quarter. Whittier Trust Co. raised its holdings in shares of Lumentum by 21,806.5% in the 1st quarter. Whittier Trust Co. now owns 74,044 shares of the technology company’s stock valued at $57,183,000 after acquiring an additional 73,706 shares in the last quarter. Swiss National Bank boosted its position in shares of Lumentum by 47.2% during the 1st quarter. Swiss National Bank now owns 208,015 shares of the technology company’s stock valued at $146,185,000 after acquiring an additional 66,700 shares during the last quarter. Finally, Patton Fund Management Inc. purchased a new position in shares of Lumentum during the first quarter worth about $5,201,000. 94.05% of the stock is owned by hedge funds and other institutional investors.
About Lumentum
Lumentum Holdings Inc is a photonics and optical technology company that develops and manufactures products used to transmit, process and manage light. Its solutions support communications networks, data centers, cloud computing infrastructure, industrial applications, and other technology markets that rely on high-speed optical connectivity and precision lasers.
The company’s product portfolio includes optical components and modules for telecommunications and networking, lasers and laser systems, optical amplifiers, wavelength-management products, and photonic subsystems.
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