Lumentum Holdings Inc (NASDAQ: LITE) is 65.43% higher on its value in year-to-date trading and has touched a low of $38.28 and a high of $88.00 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 $83.85 in the last trading session, with the day’s gains setting it 2.87%.
Currently trading at $86.72, the stock is 26.62% and 35.85% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.1 million and changing 3.42% at the moment leaves the stock 64.99% off its SMA200. LITE registered 119.43% gain for a year compared to 6-month gain of 97.09%. The firm has a 50-day simple moving average (SMA 50) of $63.2534 and a 200-day simple moving average (SMA200) of $52.40485.
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The stock witnessed a 27.08% loss in the last 1 month and extending the period to 3 months gives it a 87.54%, and is 35.14% 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 5.43% over the week and 3.93% over the month.
Lumentum Holdings Inc (LITE) has around 7257 employees, a market worth around $6.78B and $1.38B in sales. Fwd P/E is 23.39. Profit margin for the company is -40.70%. Distance from 52-week low is 126.51% and -1.45% from its 52-week high. The company has generated returns on investments over the last 12 months (-16.05%).
with sales reaching $382.54M over the same period.The EPS is expected to grow by 55.04% this year, but quarterly earnings will post 15.90% year-over-year.
Lumentum Holdings Inc (LITE) Top Institutional Holders
501.0 institutions hold shares in Lumentum Holdings Inc (LITE), with institutional investors hold 110.69% of the company’s shares. The shares outstanding are 67.90M, and float is at 65.80M with Short Float at 14.73%. Institutions hold 109.78% 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.
