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Why should you keep an eye on Lumentum Holdings Inc. (LITE)?

Lumentum Holdings Inc. (NASDAQ: LITE) is -23.42% lower on its value in year-to-date trading and has touched a low of $73.97 and a high of $108.90 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 $81.96 in the last trading session, with the day’s loss setting it -0.96% off its average median price target of $116.50 for the next 12 months. It is also 35.2% off the consensus price target high of $125.00 offered by 13 analysts, but current levels are 13.83% higher than the price target low of $94.00 for the same period.

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Currently trading at $81.00, the stock is 2.76% and -2.84% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.51 million and changing -1.17% at the moment leaves the stock -10.70% off its SMA200. LITE registered 0.91% gain for a year compared to 6-month loss of -23.09%.

The stock witnessed a 0.85% gain in the last 1 month and extending the period to 3 months gives it a -5.43%, and is 3.17% 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 3.06% over the week and 3.27% over the month.

Lumentum Holdings Inc. (LITE) has around 5618 employees, a market worth around $5.39B and $1.68B in sales. Current P/E ratio is 32.94 and Fwd P/E is 11.74. Profit margin for the company is 11.00%. Distance from 52-week low is 9.50% and -25.62% from its 52-week high. The company has generated returns on investments over the last 12 months (14.60%).

Lumentum Holdings Inc. (LITE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Lumentum Holdings Inc. (LITE) is a “Buy”. 13 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 2 think it is a “Overweight”. 10 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 11/03/2022.The EPS is expected to grow by 190.20% this year.

Lumentum Holdings Inc. (LITE) Top Institutional Holders

The shares outstanding are 71.00M, and float is at 68.80M with Short Float at 11.47%.

Lumentum Holdings Inc. (LITE) Insider Activity

A total of 23 insider transactions have happened at Lumentum Holdings Inc. (LITE) in the last six months, with sales accounting for 18 and purchases happening 5 times. The most recent transaction is an insider sale by Ali Wajid ,the company’sEVP & Chief Financial Officer. SEC filings show that Ali Wajid sold 3,287 shares of the company’s common stock on May 17 at a price of $89.12 per share for a total of $0.29 million. Following the sale, the insider now owns 37717.0 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 7,854 shares of the company’s common stock. The trade occurred on Feb 17 and was made at $100.82 per share for $0.79 million. Following the transaction, the insider now directly holds 44240.0 shares of the LITE stock.

Still, SEC filings show that on Feb 17, LOWE ALAN S (Chief Executive Officer) disposed off 8,809 shares at an average price of $100.80 for $0.89 million. The insider now directly holds 120,987 shares of Lumentum Holdings Inc. (LITE).

Lumentum Holdings Inc. (LITE): Who are the competitors?

The company’s main competitors (and peers) include Broadcom Inc. (AVGO) that is trading 4.91% up over the past 12 months.

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