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After finishing at $57.33 in the prior trading day, Lumentum Holdings Inc (NASDAQ: LITE) closed at $59.24, up 3.33%. In other words, the price has increased by $3.33 from its previous closing price. On the day, 1.35 million shares were traded. LITE stock price reached its highest trading level at $60.4 during the session, while it also had its lowest trading level at $57.43.
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.
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 4004624128 and an Enterprise Value of 5697224192. For the stock, the TTM Price-to-Sale (P/S) ratio is 2.82 while its Price-to-Book (P/B) ratio in mrq is 3.40. Its current Enterprise Value per Revenue stands at 4.007 whereas that against EBITDA is 147.98.
Stock Price History:
Over the past 52 weeks, LITE has reached a high of $60.99, while it has fallen to a 52-week low of $35.35. The 50-Day Moving Average of the stock is 25.20%, while the 200-Day Moving Average is calculated to be 26.50%.
Shares Statistics:
The stock has traded on average 1.06M shares per day over the past 3-months and 1127640 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 63.86M. Insiders hold about 5.53% of the company’s shares, while institutions hold 111.74% stake in the company. Shares short for LITE as of 1719532800 were 10077307 with a Short Ratio of 9.49, compared to 1717113600 on 9779701. Therefore, it implies a Short% of Shares Outstanding of 10077307 and a Short% of Float of 18.990000000000002.
