Lumentum Holdings Inc. (NASDAQ: LITE) is -2.28% lower on its value in year-to-date trading and has touched a low of $66.33 and a high of $112.08 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The LITE stock was last observed hovering at around $94.45 in the last trading session, with the day’s loss setting it -1.81% off its average median price target of $118.00 for the next 12 months. It is also 28.74% off the consensus price target high of $130.00 offered by 14 analysts, but current levels are 4.49% higher than the price target low of $97.00 for the same period.
Currently trading at $92.64, the stock is -0.00% and 3.13% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.15 million and changing -1.92% at the moment leaves the stock 5.42% off its SMA200. LITE registered 9.75% gain for a year compared to 6-month gain of 10.50%. The firm has a 50-day simple moving average (SMA 50) of $90.32 and a 200-day simple moving average (SMA200) of $90.26.
The stock witnessed a 2.52% loss in the last 1 month and extending the period to 3 months gives it a -3.02%, and is 0.37% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 2.19% over the week and 2.22% over the month.
Lumentum Holdings Inc. (LITE) has around 5473 employees, a market worth around $6.88B and $1.70B in sales. Current P/E ratio is 38.31 and Fwd P/E is 13.41. Profit margin for the company is 11.10%. Distance from 52-week low is 39.67% and -17.34% from its 52-week high. The company has generated returns on investments over the last 12 months (5.80%).
Lumentum Holdings Inc. (LITE) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Lumentum Holdings Inc. (LITE) is a “Buy”. 14 analysts offering their recommendations for the stock have an average rating of 2.00, where 2 rate it as a Hold and 0 think it is a “Overweight”. 12 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Lumentum Holdings Inc. is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $1.4 with sales reaching $433.74M over the same period.The EPS is expected to grow by 425.70% this year, but quarterly earnings will post 5.90% year-over-year. Quarterly sales are estimated to grow 7.70% in year-over-year returns.
Lumentum Holdings Inc. (LITE) Top Institutional Holders
639 institutions hold shares in Lumentum Holdings Inc. (LITE), with 212.72k shares held by insiders accounting for 0.28% while institutional investors hold 96.51% of the company’s shares. The shares outstanding are 75.60M, and float is at 75.52M with Short Float at 9.16%. Institutions hold 96.25% of the Float.
The top institutional shareholder in the company is Wellington Management Group, LLP with over 8.04 million shares valued at $762.49 million. The investor’s holdings represent 10.63% of the LITE Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 7.16 million shares valued at $678.82 million to account for 9.46% of the shares outstanding. The other top investors are Blackrock Inc. which holds 6.57 million shares representing 8.68% and valued at over $622.85 million, while Bank Of New York Mellon Corporation holds 3.53% of the shares totaling 2.67 million with a market value of $253.03 million.
Lumentum Holdings Inc. (LITE) Insider Activity
A total of 38 insider transactions have happened at Lumentum Holdings Inc. (LITE) in the last six months, with sales accounting for 33 and purchases happening 5 times. The most recent transaction is an insider sale by LOWE ALAN S, the company’s Chief Executive Officer. SEC filings show that LOWE ALAN S sold 9,862 shares of the company’s common stock on Feb 17 at a price of $93.39 per share for a total of $0.92 million. Following the sale, the insider now owns 0.13 million shares.
Lumentum Holdings Inc. disclosed in a document filed with the SEC on Feb 17 that Ali Wajid (EVP & Chief Financial Officer) sold a total of 6,480 shares of the company’s common stock. The trade occurred on Feb 17 and was made at $93.35 per share for $0.6 million. Following the transaction, the insider now directly holds 79611.0 shares of the LITE stock.
Still, SEC filings show that on Jan 12, Retort Vincent (EVP, Chief Operating Officer) disposed off 4,451 shares at an average price of $110.00 for $0.49 million. The insider now directly holds 84,730 shares of Lumentum Holdings Inc. (LITE).
Lumentum Holdings Inc. (LITE): Who are the competitors?
The company’s main competitors (and peers) include Optical Cable Corporation (OCC) that is trading 44.39% up over the past 12 months. Short interest in the company’s stock has risen 8.22% from the last report on Apr 14, 2021 to stand at a total of 6.92 million short shares sold with a short interest ratio of 4.51.