Lumentum Holdings Inc (NASDAQ: LITE) has seen a rise in its stock price by 0.56 in relation to its previous close of 53.95. However, the company has experienced a -1.51% decline in its stock price over the last five trading sessions. prnewswire.com reported 2024-09-05 that Ecosystem Enables Cloud Operators to Optimally Scale Regional Data Center Connectivity for the AI Era SANTA CLARA, Calif., Sept. 5, 2024 /PRNewswire/ — Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, Lumentum Holdings Inc., a market-leading designer and manufacturer of innovative optical and photonic products, and Coherent Corp., a leader in compound semiconductors and high-speed optical networking technology today announced the successful interoperability demonstration of 800G ZR/ZR+ optical modules over transmission links up to 500km.
Is It Worth Investing in Lumentum Holdings Inc (NASDAQ: LITE) Right Now?
Moreover, the 36-month beta value for LITE is 0.90. Analysts have varying opinions on the stock, with 4 analysts rating it as a “buy,” 5 as “overweight,” 5 as “hold,” and 1 as “sell.”
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The public float for LITE is 64.11M and currently, short sellers hold a 14.90% of that float. On September 13, 2024, LITE’s average trading volume was 1.48M shares.
LITE’s Market Performance
LITE stock saw an increase of -1.51% in the past week, with a monthly gain of 17.32% and a quarterly increase of 15.65%. The volatility ratio for the week is 4.49%, and the volatility levels for the last 30 days are 4.78% for Lumentum Holdings Inc (LITE). The simple moving average for the last 20 days is -0.12% for LITE stock, with a simple moving average of 10.55% for the last 200 days.
Analysts’ Opinion of LITE
Many brokerage firms have already submitted their reports for LITE stocks, with Needham repeating the rating for LITE by listing it as a “Buy.” The predicted price for LITE in the upcoming period, according to Needham is $70 based on the research report published on August 15, 2024 of the current year 2024.
Rosenblatt gave a rating of “Buy” to LITE, setting the target price at $62 in the report published on August 18th of the previous year.
LITE Trading at 3.09% 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 -11.05% of loss for the given period.
Volatility was left at 4.78%, however, over the last 30 days, the volatility rate increased by 4.49%, as shares surge +19.15% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.57% upper at present.
During the last 5 trading sessions, LITE fell by -1.51%, which changed the moving average for the period of 200-days by +23.89% in comparison to the 20-day moving average, which settled at $54.75. In addition, Lumentum Holdings Inc saw 3.49% in overturn over a single year, with a tendency to cut further gains.
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:
- -0.28 for the present operating margin
- 0.16 for the gross margin
The net margin for Lumentum Holdings Inc stands at -0.4. The total capital return value is set at -0.1. Equity return is now at value -47.25, with -12.76 for asset returns.
Based on Lumentum Holdings Inc (LITE), the company’s capital structure generated 0.72 points at debt to capital in total, while cash flow to debt ratio is standing at 0.01. The debt to equity ratio resting at 2.63. The interest coverage ratio of the stock is -11.12.
Currently, EBITDA for the company is -79.4 million with net debt to EBITDA at -35.74. When we switch over and look at the enterprise to sales, we see a ratio of 4.28. The receivables turnover for the company is 6.78for trailing twelve months and the total asset turnover is 0.35. The liquidity ratio also appears to be rather interesting for investors as it stands at 5.90.
Conclusion
To wrap up, the performance of Lumentum Holdings Inc (LITE) has been better in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
