Lumentum Holdings Inc (NASDAQ: LITE) is 24.67% higher on its value in year-to-date trading and has touched a low of $37.99 and a high of $71.07 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The LITE stock was last observed hovering at around $65.76 in the last trading session, with the day’s loss setting it -0.41%.
Currently trading at $65.35, the stock is -2.19% and 6.37% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.02 million and changing -0.62% at the moment leaves the stock 26.05% off its SMA200. LITE registered 64.24% gain for a year compared to 6-month gain of 50.16%. The firm has a 50-day simple moving average (SMA 50) of $61.4356 and a 200-day simple moving average (SMA200) of $51.8458.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
The stock witnessed a 6.28% loss in the last 1 month and extending the period to 3 months gives it a 36.12%, and is -0.47% down 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 2.48% over the week and 3.38% over the month.
Lumentum Holdings Inc (LITE) has around 7257 employees, a market worth around $4.48B and $1.36B in sales. Fwd P/E is 19.04. Profit margin for the company is -40.21%. Distance from 52-week low is 72.02% and -8.05% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.60%).
The EPS is expected to grow by 58.49% this year
493.0 institutions hold shares in Lumentum Holdings Inc (LITE), with institutional investors hold 112.64% of the company’s shares. The shares outstanding are 67.90M, and float is at 64.98M with Short Float at 14.92%. Institutions hold 111.72% of the Float.
The top institutional shareholder in the company is FMR LLC with over 9.21 million shares valued at $468.87 million. The investor’s holdings represent 13.6416 of the LITE Shares outstanding. As of 2024-06-30, the second largest holder is VANGUARD GROUP INC with 7.45 million shares valued at $379.54 million to account for 11.0425 of the shares outstanding. The other top investors are INVESCO LTD. which holds 6.27 million shares representing 9.2888 and valued at over $319.27 million, while BLACKROCK INC. holds 9.0546 of the shares totaling 6.11 million with a market value of $311.22 million.
Lumentum Holdings Inc (LITE) Insider Activity
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 9,903 shares of the company’s common stock on Feb 15 ’24 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 ’23 that Johnson Julia Suzanne (Director) sold a total of 1,163 shares of the company’s common stock. The trade occurred on Nov 20 ’23 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.
