Lumentum Holdings Inc. [LITE] is 19.27% higher this YTD. Is it still time to buy?

Lumentum Holdings Inc. [NASDAQ: LITE] gained 1.89% or 1.75 points to close at $94.58 with a heavy trading volume of 1292011 shares. The company report on July 2, 2020 that Lumentum to Exhibit Latest Advanced Solutions and Technologies at LASER World of PHOTONICS CHINA 2020.

Lumentum Holdings Inc. (“Lumentum”) today announced it will showcase its wide-ranging portfolio of innovative solutions and technologies for commercial lasers and 3D sensing markets at LASER World of PHOTONICS CHINA 2020 in Shanghai, China at the Hongqiao National Exhibition and Convention Center at hall #8.1, stand #8.1A420 from July 3 – 5, 2020.

Lumentum will display its broad spectrum of products for next-generation 3D sensing, micromachining, and macromaterials processing applications including the latest addition to its ultrafast industrial laser portfolio, the PicoBlade® 3, the CORELIGHT® Series of high-power fiber laser systems, highly-reliable diode lasers for 3D sensing and LiDAR applications, and high-power fiber-coupled diode laser modules for industrial applications.

It opened the trading session at $94.00, the shares rose to $96.735 and dropped to $93.89, the range by which the price of stock traded the whole day. The daily chart for LITE points out that the company has recorded 22.48% gains over the past six months. However, it is still -95.25% lower than its most recent low trading price.

If we look at the average trading volume of 1.61M shares, LITE reached to a volume of 1292011 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Lumentum Holdings Inc. [LITE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for LITE shares is $96.93 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on LITE stock is a recommendation set at 2.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Loop Capital have made an estimate for Lumentum Holdings Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 23, 2020. While these analysts kept the previous recommendation, Goldman raised their target price from $102 to $87. The new note on the price target was released on April 17, 2020, representing the official price target for Lumentum Holdings Inc. stock. Previously, the target price had yet another raise to $88, while Raymond James analysts kept a Outperform rating on LITE stock. On January 09, 2020, analysts increased their price target for LITE shares from 71 to 85.

The Average True Range (ATR) for Lumentum Holdings Inc. is set at 3.19, with the Price to Sales ratio for LITE stock in the period of the last 12 months amounting to 4.05. The Price to Book ratio for the last quarter was 4.08, with the Price to Cash per share for the same quarter was set at 19.75. Price to Free Cash Flow for LITE in the course of the last twelve months was 13.23 with Quick ratio for the last quarter at 6.20.

Trading performance analysis for LITE stock

Lumentum Holdings Inc. [LITE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 7.98. With this latest performance, LITE shares gained by 14.98% in over the last four-week period, additionally plugging by 22.48% over the last 6 months – not to mention a rise of 74.73% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for LITE stock in for the last two-week period is set at 70.29, with the RSI for the last a single of trading hit 75.47, and the three-weeks RSI is set at 66.27 for Lumentum Holdings Inc. [LITE]. The present Moving Average for the last 50 days of trading for this stock 80.11, while it was recorded at 90.79 for the last single week of trading, and 76.02 for the last 200 days.

Lumentum Holdings Inc. [LITE]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Lumentum Holdings Inc. [LITE] shares currently have an operating margin of +2.62 and a Gross Margin at +27.07. Lumentum Holdings Inc.’s Net Margin is presently recorded at -2.33.

Return on Total Capital for LITE is now 2.25, given the latest momentum, and Return on Invested Capital for the company is -2.03. Return on Equity for this stock declined to -3.00, with Return on Assets sitting at -1.69. When it comes to the capital structure of this company, Lumentum Holdings Inc. [LITE] has a Total Debt to Total Equity ratio set at 56.20. Additionally, LITE Total Debt to Total Capital is recorded at 35.98, with Total Debt to Total Assets ending up at 30.97. Long-Term Debt to Equity for the company is recorded at 55.83, with the Long-Term Debt to Total Capital now at 35.75.

Reflecting on the efficiency of the workforce at the company, Lumentum Holdings Inc. [LITE] managed to generate an average of -$7,053 per employee. Receivables Turnover for the company is 6.48 with a Total Asset Turnover recorded at a value of 0.73.Lumentum Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.20 and a Current Ratio set at 6.80.

Lumentum Holdings Inc. [LITE]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Lumentum Holdings Inc. posted 0.92/share EPS, while the average EPS was predicted by analysts to be reported at 0.72/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 27.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for LITE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Lumentum Holdings Inc. go to 14.60%.

An analysis of insider ownership at Lumentum Holdings Inc. [LITE]

There are presently around $7,188 million, or 96.90% of LITE stock, in the hands of institutional investors. The top three institutional holders of LITE stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 10,329,489, which is approximately 3.544% of the company’s market cap and around 0.80% of the total institutional ownership; BLACKROCK INC., holding 9,179,083 shares of the stock with an approximate value of $868.16 million in LITE stocks shares; and VANGUARD GROUP INC, currently with $684.98 million in LITE stock with ownership of nearly 2.812% of the company’s market capitalization.

Positions in Lumentum Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 204 institutional holders increased their position in Lumentum Holdings Inc. [NASDAQ:LITE] by around 11,930,249 shares. Additionally, 200 investors decreased positions by around 7,392,348 shares, while 60 investors held positions by with 56,671,823 shares. The mentioned changes placed institutional holdings at 75,994,420 shares, according to the latest SEC report filing. LITE stock had 80 new institutional investments in for a total of 2,806,815 shares, while 54 institutional investors sold positions of 1,714,548 shares during the same period.

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