Are we looking at the next big move in Lumentum Holdings Inc (LITE)?

Lumentum Holdings Inc (NASDAQ: LITE) is -3.17% lower on its value in year-to-date trading and has touched a low of $35.35 and a high of $65.16 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 $50.49 in the last trading session, with the day’s gains setting it 0.27%.

Currently trading at $50.76, the stock is 0.27% and -2.34% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.99 million and changing 0.53% at the moment leaves the stock 3.47% off its SMA200. LITE registered -4.55% loss for a year compared to 6-month gain of -6.23%. The firm has a 50-day simple moving average (SMA 50) of $3.52 and a 200-day simple moving average (SMA200) of $163.46.

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The stock witnessed a -9.60% loss in the last 1 month and extending the period to 3 months gives it a 18.60%, and is 2.71% 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 3.88% over the week and 4.72% over the month.

Lumentum Holdings Inc (LITE) has around 7500 employees, a market worth around $3.42B and $1.44B in sales. Fwd P/E is 20.81. Profit margin for the company is -18.52%. Distance from 52-week low is 43.59% and -22.10% from its 52-week high. The company has generated returns on investments over the last 12 months (-6.95%).

Lumentum Holdings Inc quarterly earnings per share for the current quarter are estimated at $0.26 with sales reaching $365.21M over the same period.The EPS is expected to shrink by -76.28% this year, but quarterly earnings will post -21.80% year-over-year.

Lumentum Holdings Inc (LITE) Top Institutional Holders

478 institutions hold shares in Lumentum Holdings Inc (LITE), with institutional investors hold 108.21% of the company’s shares. The shares outstanding are 66.40M, and float is at 64.75M with Short Float at 15.61%. Institutions hold 107.54% of the Float.

The top institutional shareholder in the company is FMR, LLC with over 7.68 million shares valued at $435.42 million. The investor’s holdings represent 11.46% of the LITE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 6.74 million shares valued at $382.48 million to account for 10.06% of the shares outstanding. The other top investors are Blackrock Inc. which holds 6.09 million shares representing 9.09% and valued at over $345.34 million, while Alliancebernstein L.P. holds 5.72% of the shares totaling 3.83 million with a market value of $217.46 million.

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 7 and purchases happening 0 times. The most recent transaction is an insider sale by Sepe Matthew Joseph,the company’sCHIEF ACCOUNTING OFFICER. SEC filings show that Sepe Matthew Joseph sold 9,903 shares of the company’s common stock on Feb 15 at a price of $49.23 per share for a total of $0.49 million. Following the sale, the insider now owns 33188.0 shares.

Lumentum Holdings Inc disclosed in a document filed with the SEC on Nov 20 that Johnson Julia Suzanne (Director) sold a total of 1,163 shares of the company’s common stock. The trade occurred on Nov 20 and was made at $44.17 per share for $51370.0. Following the transaction, the insider now directly holds 22032.0 shares of the LITE stock.

Still, SEC filings show that on Jun 20, Ali Wajid (EVP & Chief Financial Officer) disposed off 6,872 shares at an average price of $60.50 for $0.42 million. The insider now directly holds 35,629 shares of Lumentum Holdings Inc (LITE).