Lumentum (NASDAQ:LITE) Reaches New 52-Week High After 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)'s stock price reached a new 52-week high during mid-day 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 changing hands. The stock had previously closed at $149.40.

A number of other equities analysts have also recently commented on the company. B. Riley lifted their price target on Lumentum from $73.00 to $83.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. Stifel Nicolaus lifted their price target on Lumentum from $100.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, August 13th. Susquehanna lifted their price target on Lumentum to $125.00 and gave the stock a "positive" rating in a report on Tuesday, August 12th. Morgan Stanley lifted their price target on Lumentum from $92.00 to $100.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 13th. Finally, KGI Securities began coverage on Lumentum in a report on Monday, August 18th. They set an "outperform" rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $128.00.

Insider Activity at Lumentum

In other news, insider Yuen Wupen sold 3,281 shares of the business's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $124.86, for a total transaction of $409,665.66. Following the completion of the sale, the insider owned 101,273 shares in the company, valued at $12,644,946.78. The trade was a 3.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Julia Suzanne Johnson sold 1,250 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $119.06, for a total value of $148,825.00. Following the sale, the director owned 22,037 shares of the company's stock, valued at approximately $2,623,725.22. This represents a 5.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 81,687 shares of company stock valued at $8,398,352. Insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Lumentum

Institutional investors have recently made changes to their positions in the stock. FNY Investment Advisers LLC bought a new stake in shares of Lumentum in the second quarter valued at approximately $38,000. Skandinaviska Enskilda Banken AB publ bought a new stake in shares of Lumentum in the first quarter valued at approximately $25,000. MAI Capital Management boosted its stake in shares of Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company's stock valued at $43,000 after buying an additional 96 shares during the period. Rakuten Securities Inc. boosted its stake in shares of Lumentum by 164.4% in the first quarter. Rakuten Securities Inc. now owns 476 shares of the technology company's stock valued at $30,000 after buying an additional 296 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Lumentum by 103.2% in the first quarter. Golden State Wealth Management LLC now owns 512 shares of the technology company's stock valued at $32,000 after buying an additional 260 shares during the period. 94.05% of the stock is currently owned by institutional investors.

Lumentum Trading Down 1.1%

The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26. The firm has a market capitalization of $11.40 billion, a P/E ratio of 708.78 and a beta of 1.42. The firm has a 50 day moving average of $117.36 and a 200-day moving average of $86.70.

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