Lumentum (NASDAQ:LITE) Sets New 12-Month High Following Analyst Upgrade

Lumentum Holdings Inc. (NASDAQ:LITE) shares hit a new 52-week high on Wednesday after Mizuho raised their price target on the stock to $645.00. Mizuho currently has an outperform rating on the stock. Lumentum traded as high as $616.52 and last traded at $600.42, with a volume of 5616126 shares. The stock had previously closed at $562.74.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upped their target price on Lumentum to $350.00 and gave the company an “equal weight” rating in a report on Friday, January 30th. B. Riley Financial upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and upped their price objective for the company from $147.00 to $526.00 in a research note on Wednesday, February 4th. Barclays lifted their target price on shares of Lumentum to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, February 5th. Bank of America boosted their price target on shares of Lumentum to $520.00 and gave the company a “neutral” rating in a report on Wednesday, February 4th. Finally, Zacks Research upgraded Lumentum from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $447.38.

Insiders Place Their Bets

In related news, insider Vincent Retort sold 45,026 shares of the firm’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $591.32, for a total value of $26,624,774.32. Following the transaction, the insider directly owned 102,455 shares in the company, valued at approximately $60,583,690.60. This trade represents a 30.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Penny Herscher sold 4,849 shares of the business’s stock in a transaction on Friday, February 6th. The stock was sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the transaction, the director directly owned 6,057 shares of the company’s stock, valued at approximately $3,243,402.36. This represents a 44.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 53,875 shares of company stock worth $31,610,477 over the last quarter. 0.43% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Lumentum

Several hedge funds have recently made changes to their positions in LITE. Federated Hermes Inc. grew its position in shares of Lumentum by 7,168.8% during the 3rd quarter. Federated Hermes Inc. now owns 362,352 shares of the technology company’s stock worth $58,958,000 after buying an additional 357,367 shares during the period. FengHe Fund Management Pte. Ltd. acquired a new stake in Lumentum during the 3rd quarter worth $71,771,000. Pacer Advisors Inc. bought a new stake in shares of Lumentum during the 3rd quarter valued at $1,512,000. Leeward Investments LLC MA raised its position in shares of Lumentum by 14.8% during the 2nd quarter. Leeward Investments LLC MA now owns 516,431 shares of the technology company’s stock valued at $49,092,000 after acquiring an additional 66,541 shares during the last quarter. Finally, Braun Stacey Associates Inc. acquired a new position in shares of Lumentum in the 3rd quarter valued at $15,125,000. Institutional investors own 94.05% of the company’s stock.

Lumentum Price Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The company has a 50-day moving average price of $402.39 and a 200-day moving average price of $262.50. The firm has a market capitalization of $42.87 billion, a P/E ratio of 184.18 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 EPS 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 during the quarter, compared to the consensus estimate of $646.74 million. During the same quarter in the prior year, the company posted $0.42 earnings per share. The firm’s revenue was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. On average, sell-side analysts predict that Lumentum Holdings Inc. will post 0.03 earnings per share for the current year.

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.