Director Penny Herscher of Lumentum Holdings Inc. (NASDAQ:LITE) reported a sale of 4,311 shares of common stock on February 12, 2026, according to a Form 4 filing with the Securities and Exchange Commission. The disposition was executed in multiple trades, with prices ranging from $594.4192 to $602.63 per share and producing a combined proceeds total of $2,389,179.
After these transactions, the filing shows Herscher retains direct ownership of 2,057 shares of Lumentum common stock. In addition, she indirectly holds 39,378 shares of Lumentum common stock that are held in a living trust.
Separately, Lumentum released its second-quarter fiscal 2026 financial results that outperformed Wall Street expectations. The company reported earnings per share of $1.67, above the forecast of $1.39. Revenue for the quarter came in at $665.5 million versus the projected $646.7 million. Lumentum then issued third-quarter guidance that the company says is materially higher than market consensus - forecasting revenue and EPS 14% and $0.65 higher than consensus estimates.
Analysts have reacted to the stronger-than-expected results and the raised guidance by increasing price targets and reiterating or upgrading ratings. Needham raised its price target to $550 and maintained a Buy rating. Rosenblatt lifted its target to $580, citing Lumentum's role as a critical AI infrastructure provider. Stifel set a new target of $480, noting the company's robust performance and growth within the AI sector. In addition, B.Riley upgraded Lumentum from Neutral to Buy and moved its price target to $526, pointing to growth catalysts including Optical Circuit Switching and Co-Packaged Optics.
These developments - the insider sale disclosed via SEC filing, the fiscal second-quarter beat on both EPS and revenue, and the optimistic near-term guidance accompanied by multiple analyst target increases and a rating upgrade - are presented in the company documentation and public analyst notes. The information in this report is limited to what is disclosed in the Form 4 filing and the company's reported results and subsequent analyst commentary.
Clear summary
Penny Herscher sold 4,311 shares of Lumentum on February 12, 2026, in transactions totaling $2,389,179. Following the sale she directly holds 2,057 shares and indirectly holds 39,378 shares in a living trust. Lumentum reported Q2 fiscal 2026 EPS of $1.67 on revenue of $665.5 million, both above consensus, and issued third-quarter guidance materially higher than expectations. Several sell-side firms raised price targets and ratings in response.
Key points
- Penny Herscher executed multiple sales of Lumentum common stock totaling $2,389,179 on February 12, 2026.
- Lumentum beat Q2 fiscal 2026 estimates on EPS ($1.67 vs $1.39) and revenue ($665.5 million vs $646.7 million), then provided guidance that the company says is significantly above consensus.
- Analyst responses include price-target increases and a rating upgrade, with Needham at $550, Rosenblatt at $580, Stifel at $480, and B.Riley upgrading to Buy with a $526 target; cited growth drivers include AI infrastructure demand, Optical Circuit Switching, and Co-Packaged Optics.
Risks and uncertainties
- The insider sale is a disclosed fact; how the market interprets that transaction is uncertain and may influence investor sentiment.
- Future performance is contingent on the company achieving the elevated third-quarter guidance that it provided; actual results could differ from the guidance issued.
- Analyst optimism reflected in price-target increases is based on current financial results and identified growth catalysts; those assessments could change if subsequent company disclosures or market conditions diverge from current expectations.
Note: All numerical and factual details in this article are taken from the company Form 4 filing, the company's reported quarterly results, and the cited analyst actions and targets. No additional data or forecasts are introduced beyond those disclosures.