Lumentum (NASDAQ:LITE) Price Target Raised to $1,040.00

Key Points

• Needham & Company raised its price target on Lumentum to $1,040 and kept a "buy" rating, implying roughly a 13.11% upside from the current share price.
• Lumentum reported stronger-than-expected quarterly results with $1.67 EPS vs. $1.41 expected and $665.5M revenue (up 65.5% YoY), and set Q3 2026 guidance of $2.15–$2.35 EPS.
• Insiders have sold significant stock recently — 65,775 shares valued at about $38.85M over the last 90 days (including large sales by Vincent Retort and CFO Wajid Ali) — leaving insiders with just 0.43% ownership.

Lumentum (NASDAQ:LITE - Get Free Report) had its price objective boosted by investment analysts at Needham & Company LLC from $880.00 to $1,040.00 in a report released on Tuesday,MarketScreener reports. The firm currently has a "buy" rating on the technology company's stock. Needham & Company LLC's price objective indicates a potential upside of 13.11% from the company's current price.

LITE has been the subject of several other research reports. Stifel Nicolaus raised their target price on Lumentum to $800.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Morgan Stanley upped their price target on shares of Lumentum from $595.00 to $710.00 and gave the stock an "equal weight" rating in a report on Monday. UBS Group lifted their price objective on Lumentum from $215.00 to $455.00 and gave the company a "neutral" rating in a research note on Wednesday, February 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Lumentum in a research note on Monday, December 29th. Finally, Barclays lifted their target price on shares of Lumentum to $750.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $757.25.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $919.43 on Tuesday. The firm has a market cap of $65.65 billion, a price-to-earnings ratio of 281.85 and a beta of 1.38. The stock has a fifty day simple moving average of $716.61 and a two-hundred day simple moving average of $447.12. The company has a current ratio of 0.61, a quick ratio of 0.45 and a debt-to-equity ratio of 0.06. Lumentum has a 1-year low of $50.46 and a 1-year high of $960.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.26. The business had revenue of $665.50 million for the quarter, compared to analysts' expectations of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The firm's quarterly revenue was up 65.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.42 EPS. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Analysts anticipate that Lumentum will post 5.87 earnings per share for the current year.

Insider Buying and Selling at Lumentum

In other news, insider Vincent Retort sold 45,026 shares of the company'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 completion of the sale, the insider owned 102,455 shares of the company's stock, valued at approximately $60,583,690.60. This represents a 30.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Wajid Ali sold 5,302 shares of the company's stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $691.13, for a total transaction of $3,664,371.26. Following the sale, the chief financial officer owned 66,287 shares of the company's stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 65,775 shares of company stock valued at $38,851,343 over the last ninety days. Insiders own 0.43% of the company's stock.

Hedge Funds Weigh In On Lumentum

Hedge funds have recently modified their holdings of the company. Hilton Head Capital Partners LLC bought a new stake in shares of Lumentum in the 1st quarter worth approximately $25,000. Truvestments Capital LLC lifted its stake in Lumentum by 300.0% in the fourth quarter. Truvestments Capital LLC now owns 76 shares of the technology company's stock worth $28,000 after acquiring an additional 57 shares during the period. V Square Quantitative Management LLC bought a new stake in Lumentum in the fourth quarter valued at $28,000. Triumph Capital Management purchased a new position in Lumentum during the 4th quarter valued at $30,000. Finally, Harbour Investments Inc. lifted its position in shares of Lumentum by 675.0% in the 4th quarter. Harbour Investments Inc. now owns 93 shares of the technology company's stock worth $34,000 after purchasing an additional 81 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.