Lumentum Holdings Inc. (NASDAQ:LITE) has a beta value of 0.96 and has seen 1,290,329 shares traded in the last trading session. The company, currently valued at $5.41 Billion, closed the last trade at $71.94 per share which meant it lost -$1.03 on the day or -1.41% during that session. The LITE stock price is -34.47% off its 52-week high price of $96.74 and 32.67% above the 52-week low of $48.44. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.83 Million shares traded. The 3-month trading volume is 1.59 Million shares.
The consensus among analysts is that Lumentum Holdings Inc. (LITE) is a Buy stock at the moment, with a recommendation rating of 2. None of the analysts rate the stock as a Sell, while 1 rate it as Overweight. 2 out of 16 have rated it as a Hold, with 13 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $1.47.
Lumentum Holdings Inc. (NASDAQ:LITE) trade information
Despite being -1.41% in the red today, the stock has traded in the green over the last five days, with the highest price hit on Wednesday, Sep 09 when the LITE stock price touched $75.98- or saw a rise of 5.32%. Year-to-date, Lumentum Holdings Inc. shares have moved -9.28%, while the 5-day performance has seen it change -1.6%. Over the past 30 days, the shares of Lumentum Holdings Inc. (NASDAQ:LITE) have changed -22.64%. Short interest in the company has seen 7.15 Million shares shorted with days to cover at 4.5.
Wall Street analysts have a consensus price target for the stock at $105.81, which means that the shares’ value could jump 47.08% from current levels. The projected low price target is $84 while the price target rests at a high of $120. In that case, then, we find that the current price level is +66.81% off the targeted high while a plunge would see the stock lose 16.76% from current levels.
Lumentum Holdings Inc. (LITE) estimates and forecasts
Figures show that Lumentum Holdings Inc. shares have underperformed across the wider relevant industry. The company’s shares have lost -1.99% over the past 6 months, with this year growth rate of 6.83%, compared to 17.7% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 2.1% and 8.5% for the next quarter. Revenue growth from the last financial year stood is estimated to be +6.9%.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was +100.2% over the past 5 years. Earnings growth for 2020 is a modest +425.7% while over the next 5 years, the company’s earnings are expected to increase by 14.6%.
Lumentum Holdings Inc. (NASDAQ:LITE)’s Major holders
Insiders own 0.47% of the company shares, while shares held by institutions stand at 96.8% with a share float percentage of 97.26%. Investors are also buoyed by the number of investors in a company, with Lumentum Holdings Inc. having a total of 523 institutions that hold shares in the company. The top two institutional holders are Wellington Management Company, LLP with over 10.31 Million shares worth more than $839.55 Million. As of June 29, 2020, Wellington Management Company, LLP held 13.71% of shares outstanding.
The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 7.06 Million shares as of June 29, 2020. The firm’s total holdings are worth over $575.23 Million and represent 9.39% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund. As of April 29, 2020, the former fund manager holds about 3.74% shares in the company for having 2812193 shares of worth $227.53 Million while later fund manager owns 2.03 Million shares of worth $165.48 Million as of June 29, 2020, which makes it owner of about 2.7% of company’s outstanding stock.