LITE has 36-month beta value of 0.95. Analysts have mixed views on the stock, with 6 analysts rating it as a “buy,” 5 as “overweight,” 5 as “hold,” and 1 as “sell.”
The public float for LITE is 65.68M, and currently, short sellers hold a 16.14% ratio of that float. The average trading volume of LITE on November 27, 2024 was 1.72M shares.
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LITE) stock’s latest price update
Lumentum Holdings Inc (NASDAQ: LITE)’s stock price has plunge by -4.38relation to previous closing price of 86.98. Nevertheless, the company has seen a 0.85% surge in its stock price over the last five trading sessions. globenewswire.com reported 2024-11-18 that LOS ANGELES, CALIFORNIA, Nov. 18, 2024 (GLOBE NEWSWIRE) — Omni-Lite Industries Canada Inc. (the “Company” “Omni-Lite”; TSXV: OML) today is reporting that California Nanotechnologies Corp. (“Cal Nano”; TSXV: CNO) has fully paid off the outstanding debt owed to the Company aggregating approximately US$600,000, comprised of principal and interest related to the loan and promissory note previously advanced to Cal Nano. Accordingly, the debt repayment will result in an increase to the Company’s cash position, a corresponding reduction, or extinguishment, in the carrying value of the outstanding debt receivable, along with a one-time gain, or to “Other Income” of approximately US$200,000. Additionally, the Company has realized cash proceeds from the recent sale of approximately 230,000 shares of Cal Nano common stock, which will result in an additional increase in cash in the fiscal fourth quarter 2024.
LITE’s Market Performance
Lumentum Holdings Inc (LITE) has experienced a 0.85% rise in stock performance for the past week, with a 26.48% rise in the past month, and a 47.13% rise in the past quarter. The volatility ratio for the week is 4.67%, and the volatility levels for the past 30 days are at 4.30% for LITE. The simple moving average for the last 20 days is 4.32% for LITE stock, with a simple moving average of 52.84% 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 16.97% 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 -8.81% of loss for the given period.
Volatility was left at 4.30%, however, over the last 30 days, the volatility rate increased by 4.67%, as shares surge +27.07% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +42.48% upper at present.
During the last 5 trading sessions, LITE rose by +0.69%, which changed the moving average for the period of 200-days by +74.49% in comparison to the 20-day moving average, which settled at $79.72. In addition, Lumentum Holdings Inc saw 58.67% 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 Retort Vincent, who sale 41,710 shares at the price of $89.52 back on Nov 25 ’24. After this action, Retort Vincent now owns 147,515 shares of Lumentum Holdings Inc, valued at $3,733,828 using the latest closing price.
Johnson Julia Suzanne, the Director of Lumentum Holdings Inc, sale 2,058 shares at $85.82 during a trade that took place back on Nov 22 ’24, which means that Johnson Julia Suzanne is holding 23,287 shares at $176,618 based on the most recent closing price.
Stock Fundamentals for LITE
Current profitability levels for the company are sitting at:
- -0.27 for the present operating margin
- 0.16 for the gross margin
The net margin for Lumentum Holdings Inc stands at -0.41. The total capital return value is set at -0.1. Equity return is now at value -50.85, with -13.18 for asset returns.
Based on Lumentum Holdings Inc (LITE), the company’s capital structure generated 0.74 points at debt to capital in total, while cash flow to debt ratio is standing at 0.03. The debt to equity ratio resting at 2.88. The interest coverage ratio of the stock is -12.75.
Currently, EBITDA for the company is -110.7 million with net debt to EBITDA at -19.07. When we switch over and look at the enterprise to sales, we see a ratio of 5.72. The receivables turnover for the company is 6.94for 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 5.36.
Conclusion
To put it simply, Lumentum Holdings Inc (LITE) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
