Lumentum Holdings Inc (NASDAQ: LITE) is 73.12% higher on its value in year-to-date trading and has touched a low of $38.28 and a high of $95.92 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 $88.20 in the last trading session, with the day’s gains setting it 2.55%.
Currently trading at $90.75, the stock is 4.14% and 18.48% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.77 million and changing 2.89% at the moment leaves the stock 60.72% off its SMA200. LITE registered 102.30% gain for a year compared to 6-month gain of 90.85%. The firm has a 50-day simple moving average (SMA 50) of $76.077 and a 200-day simple moving average (SMA200) of $56.24585.
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The stock witnessed a 4.73% loss in the last 1 month and extending the period to 3 months gives it a 62.69%, and is -2.04% 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 4.51% over the week and 4.39% over the month.
Lumentum Holdings Inc (LITE) has around 7257 employees, a market worth around $6.23B and $1.38B in sales. Fwd P/E is 24.63. Profit margin for the company is -40.70%. Distance from 52-week low is 137.04% and -5.39% from its 52-week high. The company has generated returns on investments over the last 12 months (-16.05%).
The EPS is expected to grow by 54.57% this year
517.0 institutions hold shares in Lumentum Holdings Inc (LITE), with institutional investors hold 108.89% of the company’s shares. The shares outstanding are 68.60M, and float is at 65.63M with Short Float at 16.99%. Institutions hold 108.06% 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 Ali Wajid, the company’s EVP & CHIEF FINANCIAL OFFICER. SEC filings show that Ali Wajid sold 29,887 shares of the company’s common stock on Nov 29 ’24 at a price of $85.06 per share for a total of $2.54 million. Following the sale, the insider now owns 56492.0 shares.
Still, SEC filings show that on Nov 25 ’24, Retort Vincent (PRESIDENT, INDUSTRIAL TECH.) disposed off 41,710 shares at an average price of $89.52 for $3.73 million. The insider now directly holds 147,515 shares of Lumentum Holdings Inc (LITE).
