The stock price of Lumentum Holdings Inc (NASDAQ: LITE) has dropped by -1.41 compared to previous close of 44.74. Despite this, the company has seen a gain of 1.36% in its stock price over the last five trading days. Seeking Alpha reported 2024-05-06 that Lumentum Holdings Inc. (NASDAQ:LITE ) Q3 2024 Earnings Conference Call May 6, 2024 5:00 PM ET Company Participants Kathy Ta – Vice President, Investor Relations Alan Lowe – President & Chief Executive Officer Wajid Ali – Executive Vice President & Chief Financial Officer Chris Coldren – Senior Vice President, Chief Strategy & Corporate Development Officer Conference Call Participants Simon Leopold – Raymond James George Notter – Jefferies Samik Chatterjee – JPMorgan Meta Marshall – Morgan Stanley Christopher Rolland – SIG David Vogt – UBS Ananda Baruah – Loop Capital Tom O’Malley – Barclays Karl Ackerman – BNP Paribas Tim Savageaux – Northland Capital Markets Operator Good day, everyone, and welcome to the Lumentum Holdings’ Third Quarter Fiscal Year 2024 Earnings Call. All participants will be in a listen-only mode.
Is It Worth Investing in Lumentum Holdings Inc (NASDAQ: LITE) Right Now?
Company’s 36-month beta value is 0.96.Analysts have differing opinions on the stock, with 4 analysts rating it as a “buy,” 5 as “overweight,” 5 as “hold,” and 1 as “sell.”
The public float for LITE is 64.77M, and currently, short sellers hold a 14.73% ratio of that floaft. The average trading volume of LITE on May 07, 2024 was 1.52M shares.
LITE’s Market Performance
LITE’s stock has seen a 1.36% increase for the week, with a -3.90% drop in the past month and a -20.67% fall in the past quarter. The volatility ratio for the week is 3.95%, and the volatility levels for the past 30 days are at 3.37% for Lumentum Holdings Inc The simple moving average for the last 20 days is 1.51% for LITE’s stock, with a simple moving average of -7.16% for the last 200 days.
Analysts’ Opinion of LITE
Rosenblatt, on the other hand, stated in their research note that they expect to see LITE reach a price target of $62, previously predicting the price at $67. The rating they have provided for LITE stocks is “Buy” according to the report published on August 18th, 2023.
BofA Securities gave a rating of “Underperform” to LITE, setting the target price at $50 in the report published on July 18th of the previous year.
LITE Trading at -4.85% from the 50-Day Moving Average
After a stumble in the market that brought LITE to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -32.31% of loss for the given period.
Volatility was left at 3.37%, however, over the last 30 days, the volatility rate increased by 3.95%, as shares sank -3.88% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -10.13% lower at present.
During the last 5 trading sessions, LITE rose by +1.36%, which changed the moving average for the period of 200-days by -15.92% in comparison to the 20-day moving average, which settled at $43.36. In addition, Lumentum Holdings Inc saw -15.85% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at LITE starting from Sepe Matthew Joseph, who sale 9,903 shares at the price of $49.23 back on Feb 15 ’24. After this action, Sepe Matthew Joseph now owns 33,188 shares of Lumentum Holdings Inc, valued at $487,558 using the latest closing price.
Johnson Julia Suzanne, the Director of Lumentum Holdings Inc, sale 1,163 shares at $44.17 during a trade that took place back on Nov 20 ’23, which means that Johnson Julia Suzanne is holding 22,032 shares at $51,370 based on the most recent closing price.
Stock Fundamentals for LITE
Current profitability levels for the company are sitting at:
- -0.2 for the present operating margin
- 0.24 for the gross margin
The net margin for Lumentum Holdings Inc stands at -0.19. The total capital return value is set at -0.07. Equity return is now at value -18.89, with -5.87 for asset returns.
Based on Lumentum Holdings Inc (LITE), the company’s capital structure generated 0.69 points at debt to capital in total, while cash flow to debt ratio is standing at 0.02. The debt to equity ratio resting at 2.26. The interest coverage ratio of the stock is -7.78.
Currently, EBITDA for the company is -38.8 million with net debt to EBITDA at -30.43. When we switch over and look at the enterprise to sales, we see a ratio of 3.75. The receivables turnover for the company is 5.79for trailing twelve months and the total asset turnover is 0.31. The liquidity ratio also appears to be rather interesting for investors as it stands at 3.13.
Conclusion
In a nutshell, Lumentum Holdings Inc (LITE) has experienced a bad performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
