Morgan Stanley lifts Lumentum Holdings Inc. [LITE] price estimate. Who else is bullish?

Lumentum Holdings Inc. [NASDAQ: LITE] closed the trading session at $93.98 on 12/15/20. The day’s price range saw the stock hit a low of $90.79, while the highest price level was $94.09. The company report on December 7, 2020 that Lumentum Showcases Industry-Leading Photonic Solutions At ECOC 2020.

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Lumentum introduces new advanced telecom solutions and significant production capacity increase for datacom laser chips.

Lumentum Holdings Inc. (“Lumentum”), an industry-leading provider of optical networking solutions, announced the company will highlight its latest product advancements during the European Conference on Optical Communications (ECOC) virtual event from December 7 – 9, 2020.

The stocks have a year to date performance of 18.51 percent and weekly performance of 4.03 percent. The stock has been moved at 24.87 percent over the last six months. The stock has performed 12.30 percent around the most recent 30 days and changed 31.72 percent over the most recent 3-months.

If compared to the average trading volume of 1.05M shares, LITE reached to a volume of 1780784 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say 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 $104.94 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.

Morgan Stanley have made an estimate for Lumentum Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on December 15, 2020. While these analysts kept the previous recommendation, MKM Partners raised their target price from $102 to $120. The new note on the price target was released on November 06, 2020, representing the official price target for Lumentum Holdings Inc. stock. Previously, the target price had yet another raise from $99 to $101, while B. Riley Securities kept a Buy rating on LITE stock. On September 24, 2020, analysts decreased their price target for LITE shares from 109 to 99.

The Average True Range (ATR) for Lumentum Holdings Inc. is set at 3.13, with the Price to Sales ratio for LITE stock in the period of the last 12 months amounting to 4.30. The Price to Book ratio for the last quarter was 3.90, with the Price to Cash per share for the same quarter was set at 20.93. Price to Free Cash Flow for LITE in the course of the last twelve months was 14.12 with Quick ratio for the last quarter at 6.70.

LITE stock trade performance evaluation

Lumentum Holdings Inc. [LITE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.03. With this latest performance, LITE shares gained by 12.30% in over the last four-week period, additionally plugging by 24.87% over the last 6 months – not to mention a rise of 24.49% 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 66.34, with the RSI for the last a single of trading hit 70.31, and the three-weeks RSI is set at 63.30 for Lumentum Holdings Inc. [LITE]. The present Moving Average for the last 50 days of trading for this stock 84.77, while it was recorded at 88.81 for the last single week of trading, and 80.14 for the last 200 days.

Lumentum Holdings Inc. [LITE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Lumentum Holdings Inc. [LITE] shares currently have an operating margin of +12.89 and a Gross Margin at +37.43. Lumentum Holdings Inc.’s Net Margin is presently recorded at +8.07.

Return on Total Capital for LITE is now 8.20, given the latest momentum, and Return on Invested Capital for the company is 5.15. Return on Equity for this stock inclined to 8.35, with Return on Assets sitting at 4.51. When it comes to the capital structure of this company, Lumentum Holdings Inc. [LITE] has a Total Debt to Total Equity ratio set at 67.99. Additionally, LITE Total Debt to Total Capital is recorded at 40.47, with Total Debt to Total Assets ending up at 36.12. Long-Term Debt to Equity for the company is recorded at 67.34, with the Long-Term Debt to Total Capital now at 40.09.

Reflecting on the efficiency of the workforce at the company, Lumentum Holdings Inc. [LITE] managed to generate an average of $24,758 per employee. Receivables Turnover for the company is 6.46 with a Total Asset Turnover recorded at a value of 0.56.Lumentum Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.70 and a Current Ratio set at 7.40.

Earnings per share (EPS) analysis for Lumentum Holdings Inc. [LITE] stock

With the latest financial reports released by the company, Lumentum Holdings Inc. posted 1.53/share EPS, while the average EPS was predicted by analysts to be reported at 1.29/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 18.60%. 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%.

Lumentum Holdings Inc. [LITE]: Insider Ownership positions

There are presently around $6,507 million, or 94.40% 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 9,334,219, which is approximately -9.465% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 6,844,213 shares of the stock with an approximate value of $643.22 million in LITE stocks shares; and BLACKROCK INC., currently with $604.26 million in LITE stock with ownership of nearly -3.823% of the company’s market capitalization.

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Positions in Lumentum Holdings Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 195 institutional holders increased their position in Lumentum Holdings Inc. [NASDAQ:LITE] by around 7,399,919 shares. Additionally, 245 investors decreased positions by around 9,298,910 shares, while 73 investors held positions by with 52,541,599 shares. The mentioned changes placed institutional holdings at 69,240,428 shares, according to the latest SEC report filing. LITE stock had 68 new institutional investments in for a total of 1,423,782 shares, while 85 institutional investors sold positions of 1,987,988 shares during the same period.

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