Key Points
- Director Isaac Hosojiro Harris sold 4,000 Lumentum shares on May 29 at an average price of $860 each, totaling $3.44 million. After the sale, he still held 8,400 shares, and the trade was made under a pre-arranged Rule 10b5-1 plan.
- Lumentum reported stronger-than-expected quarterly results, posting EPS of $2.37 versus estimates of $2.27, while revenue came in at $808.4 million. Quarterly revenue jumped 90.1% from a year earlier, and the company guided Q4 2026 EPS to a range of 2.85 to 3.05.
- Analysts remain broadly positive on the stock, with several firms lifting price targets sharply and the average target now at $1,012.43. Institutional ownership is also high at 94.05%, suggesting significant backing from large investors.
Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) Director Isaac Hosojiro Harris sold 4,000 shares of Lumentum stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $860.00, for a total value of $3,440,000.00. Following the completion of the transaction, the director owned 8,400 shares of the company's stock, valued at approximately $7,224,000. The trade was a 32.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Lumentum Stock Performance
Shares of LITE stock opened at $905.00 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.01. The business has a 50 day moving average of $865.06 and a two-hundred day moving average of $590.51. Lumentum Holdings Inc. has a 52 week low of $72.29 and a 52 week high of $1,085.68. The company has a market cap of $70.41 billion, a P/E ratio of 167.59 and a beta of 1.53.
Lumentum (NASDAQ:LITE - Get Free Report) last issued its earnings results on Tuesday, May 5th. The technology company reported $2.37 EPS for the quarter, beating analysts' consensus estimates of $2.27 by $0.10. The company had revenue of $808.40 million during the quarter, compared to the consensus estimate of $810.21 million. Lumentum had a return on equity of 24.81% and a net margin of 17.61%.Lumentum's quarterly revenue was up 90.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. As a group, analysts anticipate that Lumentum Holdings Inc. will post 6.49 EPS for the current year.
Analyst Upgrades and Downgrades
LITE has been the subject of several analyst reports. Stifel Nicolaus boosted their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Tuesday, May 5th. Rosenblatt Securities boosted their price objective on Lumentum from $900.00 to $1,300.00 and gave the stock a "buy" rating in a research report on Wednesday, May 6th. UBS Group boosted their price objective on Lumentum from $455.00 to $960.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 6th. Citigroup boosted their price objective on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Tuesday, April 21st. Finally, Craig Hallum boosted their price objective on Lumentum from $900.00 to $1,150.00 in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $1,012.43.
View Our Latest Research Report on Lumentum
Institutional Investors Weigh In On Lumentum
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of Lumentum by 8,579.2% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock valued at $254,350,000 after buying an additional 1,545,199 shares in the last quarter. Norges Bank bought a new position in shares of Lumentum in the fourth quarter valued at $474,495,000. Value Aligned Research Advisors LLC bought a new position in shares of Lumentum in the fourth quarter valued at $432,062,000. Situational Awareness LP increased its holdings in shares of Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company's stock valued at $478,577,000 after buying an additional 880,800 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after buying an additional 871,249 shares in the last quarter. Institutional investors own 94.05% of the company's stock.
More Lumentum News
Here are the key news stories impacting Lumentum this week:
Lumentum Company Profile
(
Get Free Report)
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.
Further Reading
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