Lumentum shares jump 11% on strong earnings and analyst upgrades

Lumentum Holdings Inc. (NASDAQ:LITE) saw its share price rise 11.1% during Thursday trading, reaching a high of $804.90 and closing at $785.77. The surge followed the release of quarterly results that showed earnings per share of $2.37, beating consensus estimates of $2.27, and a net margin of 17.61%. Revenue for the quarter was $808.4 million, slightly below the $810.2 million forecast. Analysts responded with higher price targets: Jefferies lifted its target to $1,200, Stifel Nicolaus to $1,100, and Morgan Stanley to $900. The company also announced Q4 2026 guidance of $2.85‑$3.05 EPS and an annual EPS outlook of $6.40.

Insider activity included director Ian Small selling 4,954 shares at an average of $868.07, reducing his holding to 21,008 shares valued at about $18.2 million. Another insider sold 3,183 shares at $953.95, bringing total insider sales over the past quarter to 41,260 shares worth $38.86 million.