In today’s recent session, 0.4 million shares of the Lumentum Holdings Inc (NASDAQ:LITE) have been traded, and its beta is 1.10. Most recently the company’s share price was $70.49, and it changed around -$3.14 or -4.27% from the last close, which brings the market valuation of the company to $4.88B. LITE at last check was trading at a discount to its 52-week high of $104.00, offering almost -47.54% off that amount. The share price’s 52-week low was $38.28, which indicates that the recent value has risen by an impressive 45.69% since then. We note from Lumentum Holdings Inc’s average daily trading volume that its 10-day average is 3.11 million shares, with the 3-month average coming to 2.48 million.
Lumentum Holdings Inc stock received a consensus recommendation rating of Buy, based on a mean score of 1.78. If we narrow it down even further, the data shows that 0 out of 17 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 5 recommended LITE as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight. Lumentum Holdings Inc is expected to report earnings per share of 0.5 for the current quarter.
Lumentum Holdings Inc (NASDAQ:LITE) trade information
Instantly LITE has been showing red trend so far today with a performance of -4.27% on intraday trading today. The performance over the last five days has remained in the green territory. The rise to weekly highs of 73.71 on recent trading dayincreased the stock’s daily price by 4.37%. The company’s shares are currently down -16.04% year-to-date, but still up 6.99% over the last five days. On the other hand, Lumentum Holdings Inc (NASDAQ:LITE) is -2.74% down in the 30-day period. We can see from the shorts that 10.34 million shares have been sold at a short interest cover period of 3.78 day(s).
The consensus price target as assigned by Wall Street analysts is $70, which translates to bulls needing to decrease their stock price by -0.7% from its current value. Analyst projections state that LITE is forecast to be at a low of $40 and a high of $120.
Lumentum Holdings Inc (LITE) estimates and forecasts
The year-over-year growth rate is expected to be 18.44%, up from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of 418.19M in revenue for the current quarter. 14 analysts expect Lumentum Holdings Inc to make 452.03M in revenue for the current ending quarter. The company’s sales for the same quarters a year ago were 366.5M and 308.3M respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 14.10%. Forecasts for the next quarter put sales growth at 46.62%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -72.21%. Lumentum Holdings Inc earnings are expected to increase by 72.22% in 2025, but the outlook is positive 70.75% per year for the next five years.
Lumentum Holdings Inc (NASDAQ:LITE)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.89% of Lumentum Holdings Inc shares, and 117.64% of them are in the hands of institutional investors. The stock currently has a share float of 118.69%. Lumentum Holdings Inc stock is held by 586.0 institutions, with FMR LLC being the largest institutional investor. By 2024-06-30, it held 13.6416% of the shares, which is about 9.21 million shares worth $468.87 million.
VANGUARD GROUP INC, with 11.0425% or 7.45 million shares worth $379.54 million as of 2024-06-30, holds the second largest percentage of outstanding shares.
INVESCO SMALL CAP VALUE FUND and INVESCO VALUE OPPORTUNITIES FUND were the top two Mutual Funds as of Oct 31, 2024. The former held 3.1 shares worth $220.42 million, making up 4.48% of all outstanding shares. On the other hand, INVESCO VALUE OPPORTUNITIES FUND held roughly 2.38 shares worth around $169.64 million, which represents about 3.45% of the total shares outstanding.
