A share price of Lumentum Holdings Inc [LITE] is currently trading at $48.81, up 4.92%. 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 gain 3.72% over the last week, with a monthly amount drifted -1.05%, and not seem to be holding up well over a long-time horizon.
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On 4, March 2024, Lumentum Appoints Jae Kim as Senior Vice President, General Counsel and Secretary. In a post published today on Yahoo Finance, Lumentum Holdings Inc. (“Lumentum”), a market-leading designer and manufacturer of innovative optical and photonic products, today announced the appointment of Jae Kim as Senior Vice President, General Counsel and Corporate Secretary, reporting to Alan Lowe, President and Chief Executive Officer. In this role, Kim will be responsible for leading Lumentum’s Legal department, including Corporate Affairs, Commercial Transactions, Trade Compliance, and Intellectual Property. He will also be responsible for Facilities, Real Estate and Security.
From an analyst’s perspective:
Lumentum Holdings Inc [NASDAQ: LITE] stock has seen the most recent analyst activity on December 22, 2023, when Craig Hallum upgraded its rating to a Buy. Previously, Rosenblatt upgraded its rating to Buy on August 18, 2023, and dropped its price target to $62. On July 18, 2023, downgrade downgraded it’s rating to Underperform but maintained its price target of $50 on the stock. Barclays downgraded its rating to a Underweight and increased its price target to $42 on July 05, 2023. Barclays downgraded its rating to a Equal Weight and reduced its price target to $40 on May 10, 2023. JP Morgan upgraded its rating to Overweight for this stock on April 17, 2023, and upped its price target to $60. In a note dated April 06, 2023, Rosenblatt downgraded an Neutral rating on this stock and revised its target price from $77 to $48.
Lumentum Holdings Inc experienced fluctuations in its stock price throughout the past year between $35.35 and $65.16. Currently, Wall Street analysts expect the stock to reach $89.09 within the next 12 months. Lumentum Holdings Inc [NASDAQ: LITE] shares were valued at $48.81 at the most recent close of the market. An investor can expect a potential return of 82.52% based on the average LITE price forecast.
Analyzing the LITE fundamentals
Trailing Twelve Months sales for Lumentum Holdings Inc [NASDAQ:LITE] were 1.44B which represents -27.51% decline. Gross Profit Margin for this corporation currently stands at 0.24% with Operating Profit Margin at -0.2%, Pretax Profit Margin comes in at -0.18%, and Net Profit Margin reading is -0.19%. To continue investigating profitability, this company’s Return on Assets is posted at -0.06, Equity is -0.19 and Total Capital is -0.07. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of2.26.
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 47.07 points at the first support level, and at 45.33 for the second support level. However, for the 1st resistance point, the stock is sitting at 49.92, and for the 2nd resistance point, it is at 51.04.
Lumentum Holdings Inc [LITE] reported earnings per share of $0.32 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.3/share, meaning a difference of $0.02 and a surprise factor of 6.70%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.35 per share as compared to estimates of $0.27 per share, a difference of $0.08 representing a surprise of 29.60%.
Ratios To Look Out For
To put it in perspective, the Current Ratio for Lumentum Holdings Inc [NASDAQ:LITE] is 3.13. Also, the Quick Ratio is 2.42, while the Cash Ratio stands at 0.71. Considering the valuation of this stock, the price to sales ratio is 2.29, the price to book ratio is 2.57.
Transactions by insiders
Recent insider trading involved Sepe Matthew Joseph, CHIEF ACCOUNTING OFFICER, that happened on Feb 15 ’24 when 9903.0 shares were sold. Director, Johnson Julia Suzanne completed a deal on Nov 20 ’23 to sell 1163.0 shares. Meanwhile, EVP & Chief Financial Officer Ali Wajid sold 6872.0 shares on Jun 20 ’23.
