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After finishing at $44.11 in the prior trading day, Lumentum Holdings Inc (NASDAQ: LITE) closed at $41.40, down -6.14%. In other words, the price has decreased by -$6.14 from its previous closing price. On the day, 4.24 million shares were traded. LITE stock price reached its highest trading level at $48.12 during the session, while it also had its lowest trading level at $41.32.
Ratios:
Our goal is to gain a better understanding of LITE by taking a closer look at its different ratios. For the most recent quarter (mrq), Quick Ratio is recorded 3.87 and its Current Ratio is at 5.20. In the meantime, Its Debt-to-Equity ratio is 2.18 whereas as Long-Term Debt/Eq ratio is at 2.17.
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:
The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. 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 2790360064 and an Enterprise Value of 4491239936. For the stock, the TTM Price-to-Sale (P/S) ratio is 1.96 while its Price-to-Book (P/B) ratio in mrq is 2.38. Its current Enterprise Value per Revenue stands at 3.159 whereas that against EBITDA is -110.895.
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 -10.50%, while the 200-Day Moving Average is calculated to be -12.79%.
Shares Statistics:
The stock has traded on average 1.53M shares per day over the past 3-months and 1271700 shares per day over the last 10 days, according to various share statistics. A total of 66.40M shares are outstanding, with a floating share count of 64.77M. Insiders hold about 3.90% of the company’s shares, while institutions hold 105.04% stake in the company. Shares short for LITE as of 1713139200 were 9543321 with a Short Ratio of 6.25, compared to 1710460800 on 10057229. Therefore, it implies a Short% of Shares Outstanding of 9543321 and a Short% of Float of 18.059998999999998.
