The outlook and analysis of Lumentum Holdings Inc. (LITE)’s stock

A share price of Lumentum Holdings Inc. [LITE] is currently trading at $50.60, up 1.04%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The LITE shares have lost -3.56% over the last week, with a monthly amount drifted -14.70%, and not seem to be holding up well over a long-time horizon.

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On 16, March 2023, Lumentum Receives “Excellent Core Partner Award” from FiberHome. In a post published today on Yahoo Finance, Advancing digital connections through innovative optical transport and transmission products and exceptional performance.

From an analyst’s perspective:

Lumentum Holdings Inc. [NASDAQ: LITE] stock has seen the most recent analyst activity on February 10, 2023, when B. Riley Securities downgraded its rating to a Neutral and also revised its price target to $66 from $90. Previously, JP Morgan downgraded its rating to Neutral on December 20, 2022, and dropped its price target to $64. On December 13, 2022, UBS initiated with a Neutral rating and assigned a price target of $50 on the stock. Stifel started tracking the stock assigning a Buy rating and suggested a price target of $68 on December 02, 2022. BofA Securities downgraded its rating to a Neutral and reduced its price target to $62 on November 11, 2022. Northland Capital downgraded its rating to Market Perform for this stock on November 09, 2022, and downed its price target to $55. In a note dated September 06, 2022, BofA Securities initiated an Buy rating and iterated a target price of $105 on this stock.

Lumentum Holdings Inc. experienced fluctuations in its stock price throughout the past year between $48.73 and $100.22. Currently, Wall Street analysts expect the stock to reach $70.53 within the next 12 months. Lumentum Holdings Inc. [NASDAQ: LITE] shares were valued at $50.60 at the most recent close of the market. An investor can expect a potential return of 39.39% based on the average LITE price forecast.

Analyzing the LITE fundamentals

During the last quarter, Lumentum Holdings Inc. [NASDAQ:LITE] saw sales of 506.0 billion, an improvement of 13.30%.

Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 49.42 points at the first support level, and at 48.25 for the second support level. However, for the 1st resistance point, the stock is sitting at 51.32, and for the 2nd resistance point, it is at 52.04.

Lumentum Holdings Inc. [LITE] reported earnings per share of $1.52 for its fiscal quarter that ended on 12/30/2022. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $1.32/share, meaning a difference of $0.2 and a surprise factor of 15.20%. By comparison, the stated earnings for the previous quarter ended on 9/29/2022 were $1.69 per share as compared to estimates of $1.56 per share, a difference of $0.13 representing a surprise of 8.30%.

Ratios To Look Out For

A current ratio of 3.10 is a noteworthy aspect of Lumentum Holdings Inc. [NASDAQ:LITE].

Transactions by insiders

We now turn our attention to insider trading, which in the past 3 months has resulted in 0 insider buyings of 0 shares and 6 insider sellings of 13,816 shares. Recent insider trading involved Sepe Matthew Joseph, Chief Accounting Officer, that happened on Aug 29 when 3030.0 shares were sold. EVP & Chief Financial Officer, Ali Wajid completed a deal on Aug 23 to sell 8781.0 shares. Meanwhile, Director Lillie Brian sold 2000.0 shares on Aug 18.