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

Key Points

• Lumentum Holdings Inc. achieved a new 12-month high after Barclays raised its price target from $135 to $165, currently trading at approximately $151.73 with an overweight rating from Barclays.
• Multiple analysts have recently increased their price targets for Lumentum, contributing to robust ratings, including two Strong Buy ratings and an overall consensus of "Moderate Buy."
• Insider transactions have been noted, with key executives selling shares, including SVP Jae Kim's sale of 4,507 shares while 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Holdings Inc. (NASDAQ:LITE - Get Free Report) hit a new 52-week high during trading on Wednesday after Barclays raised their price target on the stock from $135.00 to $165.00. Barclays currently has an overweight rating on the stock. Lumentum traded as high as $152.65 and last traded at $151.73, with a volume of 2150375 shares. The stock had previously closed at $149.40.

Several other analysts also recently issued reports on the company. B. Riley upped their price target on Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. upped their price target on Lumentum from $123.00 to $145.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Bank of America upgraded Lumentum from an "underperform" rating to a "neutral" rating and increased their target price for the company from $78.00 to $135.00 in a research note on Wednesday, August 13th. Needham & Company LLC restated a "buy" rating and set a $145.00 target price (up previously from $135.00) on shares of Lumentum in a research note on Wednesday, August 13th. Finally, Wolfe Research began coverage on Lumentum in a research note on Tuesday, August 12th. They set an "outperform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.00.

Insider Transactions at Lumentum

In other Lumentum news, SVP Jae Kim sold 4,507 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $116.88, for a total value of $526,778.16. Following the completion of the transaction, the senior vice president owned 33,465 shares of the company's stock, valued at $3,911,389.20. This represents a 11.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Alan S. Lowe sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $93.47, for a total value of $1,869,400.00. Following the completion of the sale, the director owned 230,471 shares in the company, valued at approximately $21,542,124.37. This represents a 7.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,687 shares of company stock worth $8,398,352. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Lumentum

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Lumentum by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 7,430,185 shares of the technology company's stock worth $463,198,000 after buying an additional 47,811 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Lumentum during the 1st quarter valued at $260,000. UMB Bank n.a. increased its holdings in Lumentum by 132.9% during the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after purchasing an additional 448 shares in the last quarter. FORA Capital LLC bought a new stake in Lumentum during the 1st quarter worth about $642,000. Finally, Principal Financial Group Inc. grew its holdings in Lumentum by 1.1% during the 1st quarter. Principal Financial Group Inc. now owns 159,154 shares of the technology company's stock worth $9,922,000 after acquiring an additional 1,660 shares during the last quarter. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Trading Up 1.6%

The business's fifty day simple moving average is $113.03 and its 200 day simple moving average is $84.65. The company has a current ratio of 4.37, a quick ratio of 3.18 and a debt-to-equity ratio of 2.26. The stock has a market cap of $10.61 billion, a P/E ratio of 659.70 and a beta of 1.42.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The technology company reported $0.88 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.09. Lumentum had a negative return on equity of 3.02% and a net margin of 1.57%.The business had revenue of $480.70 million during the quarter, compared to analysts' expectations of $465.27 million. During the same period in the previous year, the firm earned $0.06 earnings per share. The firm's quarterly revenue was up 55.9% compared to the same quarter last year. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

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