Lumentum Holdings Inc (NASDAQ: LITE) is -7.47% lower on its value in year-to-date trading and has touched a low of $38.28 and a high of $104.00 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 $78.13 in the last trading session, with the day’s loss setting it -0.45%.
Currently trading at $77.68, the stock is -9.73% and -10.63% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.71 million and changing -0.58% at the moment leaves the stock 19.82% off its SMA200. LITE registered 63.23% gain for a year compared to 6-month gain of 70.61%. The firm has a 50-day simple moving average (SMA 50) of $86.9198 and a 200-day simple moving average (SMA200) of $64.83225.
The stock witnessed a -12.13% loss in the last 1 month and extending the period to 3 months gives it a -10.35%, and is -9.57% 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 4.83% over the week and 6.10% over the month.
Lumentum Holdings Inc (LITE) has around 7257 employees, a market worth around $5.38B and $1.41B in sales. Fwd P/E is 20.62. Profit margin for the company is -36.98%. Distance from 52-week low is 102.90% and -25.31% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.11%).
The EPS is expected to grow by 72.83% this year.
Lumentum Holdings Inc (LITE) Top Institutional Holders
575.0 institutions hold shares in Lumentum Holdings Inc (LITE), with institutional investors hold 109.49% of the company’s shares. The shares outstanding are 69.10M, and float is at 65.97M with Short Float at 14.62%. Institutions hold 108.43% 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
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Lumentum Holdings Inc disclosed in a document filed with the SEC on Nov 29 ’24 that Ali Wajid (EVP & CHIEF FINANCIAL OFFICER) sold a total of 29,887 shares of the company’s common stock. The trade occurred on Nov 29 ’24 and was made at $85.06 per share for $2.54 million. Following the transaction, the insider now directly holds 56492.0 shares of the LITE stock.
Still, SEC filings show that on Nov 29 ’24, WAJID ALI (Officer) Proposed Sale 29,887 shares at an average price of $85.06 for $2.54 million. The insider now directly holds shares of Lumentum Holdings Inc (LITE).
