Lumentum (NASDAQ:LITE) Given New $710.00 Price Target at Morgan Stanley

Lumentum (NASDAQ:LITE) had its price target raised by Morgan Stanley from $595.00 to $710.00 in a report published on Monday, Marketbeat reports. They currently have an equal weight rating on the technology company’s stock.

A number of other equities analysts have also commented on the stock. UBS Group lifted their price target on shares of Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a report on Wednesday, February 4th. Susquehanna lifted their price target on shares of Lumentum from $550.00 to $1,100.00 and gave the stock a “positive” rating in a report on Monday. Zacks Research lowered shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, April 13th. JPMorgan Chase & Co. lifted their price target on shares of Lumentum to $950.00 and gave the stock an “overweight” rating in a report on Thursday, April 9th. Finally, Mizuho boosted their target price on shares of Lumentum from $750.00 to $930.00 and gave the company an “outperform” rating in a report on Wednesday, April 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Lumentum presently has an average rating of “Moderate Buy” and a consensus target price of $711.63.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $895.11 on Monday. The firm has a market cap of $63.91 billion, a PE ratio of 274.57 and a beta of 1.38. The firm’s fifty day moving average is $716.61 and its 200-day moving average is $447.12. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. Lumentum has a 52 week low of $49.13 and a 52 week high of $960.00.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, February 3rd. The technology company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. Lumentum’s revenue was up 65.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Sell-side analysts predict that Lumentum will post 5.87 earnings per share for the current year.

Insider Activity

In other Lumentum news, Director Penny Herscher sold 4,000 shares of the company’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $597.29, for a total transaction of $2,389,160.00. Following the sale, the director owned 2,057 shares of the company’s stock, valued at approximately $1,228,625.53. This represents a 66.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Vincent Retort sold 3,441 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $545.78, for a total transaction of $1,878,028.98. Following the sale, the insider directly owned 95,975 shares in the company, valued at $52,381,235.50. This trade represents a 3.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 65,775 shares of company stock worth $38,851,343. 0.43% of the stock is owned by insiders.

Institutional Trading of Lumentum

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Lumentum by 0.6% during the third quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company’s stock valued at $1,217,930,000 after acquiring an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock valued at $683,661,000 after purchasing an additional 291,591 shares during the period. Geode Capital Management LLC raised its holdings in shares of Lumentum by 9.6% during 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 purchasing an additional 123,265 shares during the period. Situational Awareness LP raised its holdings in shares of Lumentum by 210.9% during the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares during the period. Finally, Norges Bank acquired a new position in shares of Lumentum during the fourth quarter valued at about $474,495,000. 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.