In the last trading session, 4.22 million Lumentum Holdings Inc (NASDAQ:LITE) shares changed hands as the company’s beta touched 1.20. With the company’s per share price at $50.02 changed hands at -$2.24 or -4.29% during last session, the market valuation stood at $3.46B. LITE’s last price was a discount, traded about -107.92% off its 52-week high of $104.00. The share price had its 52-week low at $38.28, which suggests the last value was 23.47% up since then. When we look at Lumentum Holdings Inc’s average trading volume, we note the 10-day average is 3.56 million shares, with the 3-month average coming to 2.78 million.
Analysts gave the Lumentum Holdings Inc (LITE) stock a consensus recommendation rating of Buy, calculated at a mean rating of 1.63. If we narrow down to specifics, the data shows that 1 out of 10 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 3 recommended LITE as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight.
Lumentum Holdings Inc (NASDAQ:LITE) trade information
Instantly LITE was in red as seen at the end of in last trading. With action -21.34%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -40.42%, with the 5-day performance at -21.34% in the red. However, in the 30-day time frame, Lumentum Holdings Inc (NASDAQ:LITE) is -12.87% down. Looking at the short shares, we see there were 10.41 million shares sold at short interest cover period of 3.81 days.
The consensus price target for the stock as assigned by Wall Street analysts is 82, meaning bulls need an upside of 39.0% from its current market value. According to analyst projections, LITE’s forecast low is 82 with 82 as the target high. To hit the forecast high, the stock’s price needs a -63.93% plunge from its current level, while the stock would need to soar -63.93% for it to hit the projected low.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -72.21%. The 2025 estimates are for Lumentum Holdings Inc earnings to increase by 72.10%, but the outlook for the next 5-year period is at 70.75% per year.
LITE Dividends
Lumentum Holdings Inc is expected to release its next quarterly earnings report on 2025-Feb-05.
Lumentum Holdings Inc (NASDAQ:LITE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.89% of Lumentum Holdings Inc shares while 117.30% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 118.35%. There are 117.30% institutions holding the Lumentum Holdings Inc stock share, with FMR LLC the top institutional holder. As of 2024-06-30, the company held 13.6821% of the shares, roughly 9.21 million LITE shares worth $468.87 million.
VANGUARD GROUP INC holds the second largest percentage of outstanding shares, with 11.0425% or 7.45 million shares worth $379.54 million as of 2024-06-30.
Among Mutual Funds, the top two as of Dec 31, 2024 were SMALLCAP WORLD FUND INC and iShares Trust-iShares Core S&P Mid-Cap ETF . With 2.31 shares estimated at $115.3 million under it, the former controlled 3.33% of total outstanding shares. On the other hand, iShares Trust-iShares Core S&P Mid-Cap ETF held about 3.23% of the shares, roughly 2.23 shares worth around $111.73 million.
