Lumentum Holdings Inc [NASDAQ: LITE] plunged by -$2.71 during the normal trading session on while it closed the day at $41.40.
Lumentum Holdings Inc stock has also loss -5.39% of its value over the past 7 days. However, LITE stock has declined by -29.64% in the 3 months of the year. Over the past six months meanwhile, it has lost -3.18% and lost -21.02% year-on date.
The market cap for LITE stock reached $2.79 billion, with 66.40 million shares outstanding and 64.77 million shares in the current float. Compared to the average trading volume of 1.53M shares, LITE reached a trading volume of 4235531 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 $54.61 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. While these analysts kept the previous recommendation, Rosenblatt dropped their target price from $67 to $62. The new note on the price target was released on August 18, 2023, representing the official price target for Lumentum Holdings Inc stock. Previously, the target price had yet another raise to $50, while BofA Securities analysts kept a Underperform rating on LITE stock. On July 05, 2023, analysts increased their price target for LITE shares from 40 to 42.
The Average True Range (ATR) for Lumentum Holdings Inc is set at 1.96, with the Price to Sales ratio for LITE stock in the period of the last 12 months amounting to 1.96. The Price to Book ratio for the last quarter was 2.38, with the Price to Cash per share for the same quarter was set at 12.92.
LITE stock trade performance evaluation
Lumentum Holdings Inc [LITE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.39. With this latest performance, LITE shares dropped by -9.78% in over the last four-week period, additionally sinking by -3.18% over the last 6 months – not to mention a drop of -13.35% 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 37.21, with the RSI for the last a single of trading hit 34.09, and the three-weeks RSI is set at 39.23 for Lumentum Holdings Inc [LITE]. The present Moving Average for the last 50 days of trading for this stock 46.10, while it was recorded at 43.61 for the last single week of trading, and 47.42 for the last 200 days.
Lumentum Holdings Inc [LITE]: An insightful look at the core fundamentals
Lumentum Holdings Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.87 and a Current Ratio set at 5.20.
Earnings per share (EPS) analysis for Lumentum Holdings Inc [LITE] stock
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]: Institutional Ownership
The top three institutional holders of LITE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in LITE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in LITE stock with ownership which is approximately 5.8386%.
