Lumentum Holdings Inc (NASDAQ:LITE) has a beta value of 1.18 and has seen 0.99 million shares traded in the recent trading session. The company, currently valued at $4.34B, closed the recent trade at $62.72 per share which meant it gained $5.31 on the day or 9.24% during that session. The LITE stock price is -65.82% off its 52-week high price of $104.00 and 38.97% above the 52-week low of $38.28.
The consensus among analysts is that Lumentum Holdings Inc (LITE) is Buy stock at the moment, with a recommendation rating of 1.83. 1 analysts rate the stock as a Sell, while 0 rate it as Overweight. 3 out of 10 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.5.
Lumentum Holdings Inc (NASDAQ:LITE) trade information
Sporting 9.24% in the green today, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the LITE stock price touched $62.72 or saw a rise of 7.72%. Year-to-date, Lumentum Holdings Inc shares have moved -25.29%, while the 5-day performance has seen it change -3.65%. Over the past 30 days, the shares of Lumentum Holdings Inc (NASDAQ:LITE) have changed -26.99%.
Wall Street analysts have a consensus price target for the stock at $70, which means that the shares’ value could jump 10.4% from the levels at last check today. The projected low price target is $40.0 while the price target rests at a high of $120.0. In that case, then, we find that the latest price level in today’s session is -91.33% off the targeted high while a plunge would see the stock lose 36.22% from the levels at last check today.
Lumentum Holdings Inc (LITE) estimates and forecasts
The company’s shares have gained 20.35% over the past 6 months. Revenue growth from the last financial year stood is estimated to be 18.44%.
14 analysts offering their estimates for the company have set an average revenue estimate of 418.19M for the current quarter. 14 have an estimated revenue figure of 452.03M for the next ending quarter. Year-ago sales stood 366.5M and 308.3M respectively for this quarter and the next, and analysts expect sales will grow by 14.10% for the current quarter and 18.44% for the next.
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 -72.21% over the past 5 years. Earnings growth for 2025 is a modest 72.21% while over the next 5 years, the company’s earnings are expected to increase by 70.75%.
LITE Dividends
Lumentum Holdings Inc is expected to release its next earnings report in April this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Lumentum Holdings Inc (NASDAQ:LITE)’s Major holders
The top two institutional holders are FMR LLC with over 9.21 million shares worth more than $468.87 million. As of 2024-06-30, FMR LLC held 13.6416% of shares outstanding.
The other major institutional holder is VANGUARD GROUP INC, with the holding of over 7.45 million shares as of 2024-06-30. The firm’s total holdings are worth over $379.54 million and represent 11.0425% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Invesco Small Cap Value Fd and Invesco Value Opportunities Fd. As of Oct 31, 2024, the former fund manager holds about 4.48% shares in the company for having 3.1 shares of worth $190.89 million while later fund manager owns 2.38 shares of worth $146.91 million as of Oct 31, 2024, which makes it owner of about 3.45% of company’s outstanding stock.
