Lumentum Holdings Inc [NASDAQ: LITE] stock went on a downward path that fall over -0.12% on Wednesday, amounting to a one-week price increase of more than 6.97%. The company report on January 23, 2024 at 4:40 PM that Lumentum to Announce Fiscal Second Quarter 2024 Financial Results on February 8, 2024.
Lumentum Holdings Inc. (“Lumentum”) today announced that it will release its fiscal second quarter 2024 financial results on Thursday, February 8, 2024, before the market opens.
Lumentum will hold a conference call the same day at 5:30 a.m. PT/8:30 a.m. ET. A live webcast of the call and the replay will be available in the Investors section of the Lumentum website at http://investor.lumentum.com.
Over the last 12 months, LITE stock dropped by -3.53%. The one-year Lumentum Holdings Inc stock forecast points to a potential downside of -7.85. The average equity rating for LITE stock is currently 2.05, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $3.94 billion, with 66.40 million shares outstanding and 64.35 million shares in the current float. Compared to the average trading volume of 1.15M shares, LITE stock reached a trading volume of 3850145 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $54.49 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 2.05. 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.
Craig Hallum have made an estimate for Lumentum Holdings Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 22, 2023.
The Average True Range (ATR) for Lumentum Holdings Inc is set at 2.01, with the Price to Sales ratio for LITE stock in the period of the last 12 months amounting to 2.50. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 29.02.
LITE Stock Performance Analysis:
Lumentum Holdings Inc [LITE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.97. With this latest performance, LITE shares gained by 14.85% in over the last four-week period, additionally plugging by 12.03% over the last 6 months – not to mention a drop of -3.53% 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 68.91, with the RSI for the last a single of trading hit 70.87, and the three-weeks RSI is set at 67.11 for Lumentum Holdings Inc [LITE]. The present Moving Average for the last 50 days of trading for this stock 50.63, while it was recorded at 57.17 for the last single week of trading, and 48.88 for the last 200 days.
Insight into Lumentum Holdings Inc Fundamentals:
Lumentum Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.81 and a Current Ratio set at 4.53.
LITE Stock EPS
With the latest financial reports released by the company, Lumentum Holdings Inc posted 1.52/share EPS, while the average EPS was predicted by analysts to be reported at 1.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 15.20%. 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 15.00%.
Lumentum Holdings Inc [LITE] Institutonal Ownership Details
The top three institutional holders of LITE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in LITE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in LITE stock with ownership which is approximately 5.8325%.
