New Big Money Means Lumentum Holdings Inc. (LITE) Investors Could Reap Benefit

Lumentum Holdings Inc. (NASDAQ: LITE) is -8.01% lower on its value in year-to-date trading and has touched a low of $42.00 and a high of $96.46 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 $45.53 in the last trading session, with the day’s gains setting it 2.46% off its average median price target of $55.00 for the next 12 months. It is also 25.02% off the consensus price target high of $64.00 offered by 16 analysts, but current levels are -19.98% lower than the price target low of $40.00 for the same period.

Currently trading at $47.99, the stock is 3.17% and -0.37% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.32 million and changing 5.40% at the moment leaves the stock -21.21% off its SMA200. LITE registered -42.63% loss for a year compared to 6-month loss of -12.75%. The firm has a 50-day simple moving average (SMA 50) of $2.00 and a 200-day simple moving average (SMA200) of $14.44.

The stock witnessed a 0.19% gain in the last 1 month and extending the period to 3 months gives it a -10.85%, and is 1.31% 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 3.95% over the week and 3.41% over the month.

Lumentum Holdings Inc. (LITE) has around 6815 employees, a market worth around $3.34B and $1.82B in sales. Fwd P/E is 15.09. Profit margin for the company is -2.00%. Distance from 52-week low is 14.26% and -50.25% from its 52-week high. The company has generated returns on investments over the last 12 months (7.10%).

Lumentum Holdings Inc. (LITE) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Lumentum Holdings Inc. (LITE) is a “Overweight”. 16 analysts offering their recommendations for the stock have an average rating of 2.40, where 8 rate it as a Hold and 2 think it is a “Overweight”. 6 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 08/15/2023.The EPS is expected to shrink by -47.10% this year

Lumentum Holdings Inc. (LITE) Top Institutional Holders

The shares outstanding are 68.60M, and float is at 67.85M with Short Float at 9.98%.

Lumentum Holdings Inc. (LITE) Insider Activity

A total of 7 insider transactions have happened at Lumentum Holdings Inc. (LITE) in the last six months, with sales accounting for 6 and purchases happening 1 times. The most recent transaction is an insider sale by Sepe Matthew Joseph, the company’s Chief Accounting Officer. SEC filings show that Sepe Matthew Joseph sold 3,030 shares of the company’s common stock on Aug 29 at a price of $86.20 per share for a total of $0.26 million. Following the sale, the insider now owns 25288.0 shares.

Lumentum Holdings Inc. disclosed in a document filed with the SEC on Aug 23 that Ali Wajid (EVP & Chief Financial Officer) sold a total of 8,781 shares of the company’s common stock. The trade occurred on Aug 23 and was made at $92.47 per share for $0.81 million. Following the transaction, the insider now directly holds 31194.0 shares of the LITE stock.

Still, SEC filings show that on Aug 18, Lillie Brian (Director) disposed off 2,000 shares at an average price of $90.00 for $0.18 million. The insider now directly holds 12,837 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 39.03% up over the past 12 months.