Lumentum Holdings Inc (LITE) concluded trading on Thursday ata closing price of $52.26, with 7.8 million shares of worth about $407.61 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 5.38% during that period and on August 15, 2024 the price saw a gain of about 14.78%. Currently the company’s common shares owned by public are about 67.90M shares, out of which, 64.26M shares are available for trading.
Stock saw a price change of 20.58% in past 5 days and over the past one month there was a price change of -8.97%. Year-to-date (YTD), LITE shares are showing a performance of -0.31% which increased to 1.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $35.35 but also hit the highest price of $60.99 during that period. The average intraday trading volume for Lumentum Holdings Inc shares is 1.18 million. The stock is currently trading 8.03% above its 20-day simple moving average (SMA20), while that difference is up 4.61% for SMA50 and it goes to 9.26% higher than SMA200.
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Lumentum Holdings Inc (NASDAQ: LITE) currently have 67.90M outstanding shares and institutions hold larger chunk of about 112.00% of that.
The stock has a current market capitalization of $3.53B and its 3Y-monthly beta is at 0.89. It has posted earnings per share of -$8.10 in the same period. It has Quick Ratio of 4.43 while making debt-to-equity ratio of 2.67. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for LITE, volatility over the week remained 4.77% while standing at 5.36% over the month.
Stock’s fiscal year EPS is expected to rise by 60.64% while it is estimated to increase by 122.35% in next year. EPS is likely to grow at an annualized rate of 15.00% for next 5-years, compared to annual growth of -72.21% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Needham on Aug-16-24 offering a Buy rating for the stock and assigned a target price range of between $65 and $70 to it. On August 18, 2023, Rosenblatt Upgrade their recommendations, while on July 18, 2023, BofA Securities Downgrade their ratings for the stock with a price target of $50. Stock get an Underweight rating from Barclays on July 05, 2023.
