The price of Lumentum Holdings Inc (NASDAQ: LITE) closed at $45.34 in the last session, down -4.04% from day before closing price of $47.25. In other words, the price has decreased by -$1.91 from its previous closing price. On the day, 725598 shares were traded. LITE stock price reached its highest trading level at $46.49 during the session, while it also had its lowest trading level at $44.82.
Ratios:
We take a closer look at LITE’s different ratios to gain a better understanding of the stock. For the most recent quarter (mrq), Quick Ratio is recorded 2.42 and its Current Ratio is at 3.13. In the meantime, Its Debt-to-Equity ratio is 2.26 whereas as Long-Term Debt/Eq ratio is at 2.00.
On August 18, 2023, Rosenblatt Upgraded its rating to Buy which previously was Neutral and also lowered its target price recommendation from $67 to $62.
BofA Securities Downgraded its Neutral to Underperform on July 18, 2023, while the target price for the stock was maintained at $50.
Insider Transactions:
An investor can also benefit from insider trades by learning what management is thinking about the future direction of stock prices. A recent insider transaction in this stock occurred on Feb 15 ’24 when Sepe Matthew Joseph sold 9,903 shares for $49.23 per share. The transaction valued at 487,558 led to the insider holds 33,188 shares of the business.
Johnson Julia Suzanne sold 1,163 shares of LITE for $51,370 on Nov 20 ’23. The Director now owns 22,032 shares after completing the transaction at $44.17 per share. On Jun 20 ’23, another insider, Ali Wajid, who serves as the EVP & Chief Financial Officer of the company, sold 6,872 shares for $60.50 each. As a result, the insider received 415,756 and left with 35,629 shares of the company.
Valuation Measures:
Investors should consider key stock statistics when deciding whether to invest or divest. In the wake of the recent closing price, LITE now has a Market Capitalization of 3.19B and an Enterprise Value of 4.85B. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.12 while its Price-to-Book (P/B) ratio in mrq is 2.39. Its current Enterprise Value per Revenue stands at 3.37 whereas that against EBITDA is 156.50.
Stock Price History:
Over the past 52 weeks, LITE has reached a high of $65.16, while it has fallen to a 52-week low of $35.35. The 50-Day Moving Average of the stock is 49.47, while the 200-Day Moving Average is calculated to be 48.52.
Shares Statistics:
According to the various share statistics, LITE traded on average about 1.54M shares per day over the past 3-months and 884.47k shares per day over the past 10 days. A total of 66.40M shares are outstanding, with a floating share count of 64.77M. Insiders hold about 3.91% of the company’s shares, while institutions hold 104.53% stake in the company. Shares short for LITE as of Mar 15, 2024 were 10.06M with a Short Ratio of 6.78, compared to 10.11M on Feb 15, 2024. Therefore, it implies a Short% of Shares Outstanding of 14.92% and a Short% of Float of 19.03%.
Earnings Estimates
The company has 15 analysts who recommend its stock at the moment. On average, analysts expect EPS of $0.26 for the current quarter, with a high estimate of $0.3 and a low estimate of $0.21, while EPS last year was $0.75. The consensus estimate for the next quarter is $0.15, with high estimates of $0.39 and low estimates of $0.05.
Analysts are recommending an EPS of between $1.34 and $0.98 for the fiscal current year, implying an average EPS of $1.08. EPS for the following year is $2.43, with 15 analysts recommending between $2.85 and $1.69.
Revenue Estimates
A total of 16 analysts have provided revenue estimates for LITE’s current fiscal year. The highest revenue estimate was $1.4B, while the lowest revenue estimate was $1.36B, resulting in an average revenue estimate of $1.38B. In the same quarter a year ago, actual revenue was $1.77B, down -21.80% from the average estimate. Based on 16 analysts’ estimates, the company’s revenue will be $1.65B in the next fiscal year. The high estimate is $1.79B and the low estimate is $1.51B. The average revenue growth estimate for next year is up 19.60% from the average revenue estimate for this year.