Lumentum (NASDAQ:LITE) Given New $645.00 Price Target at Mizuho

Lumentum (NASDAQ:LITE) had its target price upped by Mizuho to $645.00 in a research note published on Tuesday morning, MarketBeat reports. The firm currently has an outperform rating on the technology company’s stock.

Several other brokerages also recently commented on LITE. Zacks Research raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $147.00 to $526.00 in a research report on Wednesday, February 4th. Rosenblatt Securities upped their target price on Lumentum to $580.00 and gave the company a “buy” rating in a research report on Wednesday, February 4th. Needham & Company LLC lifted their price target on Lumentum to $550.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Stifel Nicolaus upped their price objective on Lumentum to $480.00 and gave the company a “buy” rating in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Lumentum currently has an average rating of “Moderate Buy” and an average target price of $447.38.

Lumentum Stock Performance

Shares of NASDAQ LITE opened at $600.42 on Tuesday. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $42.87 billion, a P/E ratio of 184.18 and a beta of 1.51. Lumentum has a 12 month low of $45.65 and a 12 month high of $616.52. The stock has a 50 day moving average of $402.39 and a 200-day moving average of $262.50.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 earnings per share for the quarter, beating 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 business had revenue of $665.50 million for the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter in the prior year, the business earned $0.42 EPS. The firm’s revenue for the quarter 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, equities research analysts predict that Lumentum will post 0.03 EPS for the current year.

Insider Buying and Selling at Lumentum

In related news, Director Penny Herscher sold 4,000 shares of the business’s stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $597.29, for a total value of $2,389,160.00. Following the completion of the transaction, the director owned 2,057 shares of the company’s stock, valued at $1,228,625.53. The trade was a 66.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Vincent Retort sold 45,026 shares of the stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $591.32, for a total transaction of $26,624,774.32. Following the sale, the insider owned 102,455 shares in the company, valued at $60,583,690.60. The trade was a 30.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 53,875 shares of company stock worth $31,610,477. 0.43% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its stake in shares of Lumentum by 36.8% in the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after purchasing an additional 254 shares in the last quarter. NewEdge Advisors LLC boosted its position in Lumentum by 109.9% in the first quarter. NewEdge Advisors LLC now owns 11,986 shares of the technology company’s stock valued at $747,000 after buying an additional 6,275 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Lumentum by 9.1% during the first quarter. Empowered Funds LLC now owns 8,139 shares of the technology company’s stock worth $507,000 after buying an additional 680 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in shares of Lumentum by 42.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 6,691 shares of the technology company’s stock worth $636,000 after buying an additional 1,987 shares during the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Lumentum by 13.3% during the second quarter. Allianz Asset Management GmbH now owns 61,978 shares of the technology company’s stock worth $5,892,000 after buying an additional 7,256 shares in the last quarter. 94.05% of the stock is 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.