Lumentum (LITE) Stock Forecast, Price & News

13 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Lumentum in the last twelve months. There are currently 8 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" LITE shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in LITE, but not buy additional shares or sell existing shares.
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13 brokerages have issued twelve-month price objectives for Lumentum's stock. Their LITE share price forecasts range from $40.00 to $85.00. On average, they anticipate the company's stock price to reach $58.27 in the next twelve months. This suggests a possible upside of 14.1% from the stock's current price.
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Lumentum's stock was trading at $52.17 at the start of the year. Since then, LITE shares have decreased by 2.1% and is now trading at $51.08.
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The company is scheduled to release its next quarterly earnings announcement on Tuesday, August 15th 2023.
View our LITE earnings forecast.

Lumentum Holdings Inc. (NASDAQ:LITE) released its earnings results on Tuesday, May, 9th. The technology company reported $0.36 EPS for the quarter, hitting analysts' consensus estimates of $0.36. The technology company earned $383.40 million during the quarter, compared to analysts' expectations of $393.08 million. Lumentum had a positive trailing twelve-month return on equity of 16.02% and a negative net margin of 2.02%.

ETFs with the largest weight of Lumentum (NASDAQ:LITE) stock in their portfolio include iShares North American Tech-Multimedia Networking ETF (IGN), SPDR S&P Telecom ETF (XTL), Inverse Cramer Tracker ETF (SJIM), iShares U.S. Telecommunications ETF (IYZ), iShares Future Cloud 5G and Tech ETF (IDAT), 2ndVote Life Neutral Plus ETF (LYFE), ProShares Metaverse ETF (VERS) and Pacer US Export Leaders ETF (PEXL).

Lumentum issued an update on its fourth quarter 2023 earnings guidance on Tuesday, May, 9th. The company provided earnings per share (EPS) guidance of $0.45-$0.65 for the period, compared to the consensus EPS estimate of $0.79. The company issued revenue guidance of $350.00 million-$380.00 million, compared to the consensus revenue estimate of $377.45 million.

64 employees have rated Lumentum Chief Executive Officer Alan Lowe on Glassdoor.com. Alan Lowe has an approval rating of 88% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Lumentum investors own include NVIDIA (NVDA), Micron Technology (MU), Alibaba Group (BABA), Advanced Micro Devices (AMD), Salesforce (CRM), Intel (INTC), QUALCOMM (QCOM), Block (SQ), Walt Disney (DIS) and Cisco Systems (CSCO).

Lumentum trades on the NASDAQ under the ticker symbol "LITE."

Lumentum's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Bank of New York Mellon Corp (2.85%), Geode Capital Management LLC (1.48%), Dimensional Fund Advisors LP (1.40%), Robeco Schweiz AG (1.07%), Charles Schwab Investment Management Inc. (1.04%) and Fisher Asset Management LLC (1.03%). Insiders that own company stock include Alan S Lowe, Alan S Lowe, Brian Lillie, Harold L Covert, Jason Reinhardt, Judy G Hamel, Julia Suzanne Johnson, Matthew Joseph Sepe, Penny Herscher, Samuel F Thomas, Vincent Retort and Wajid Ali.
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Shares of LITE stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of LITE stock can currently be purchased for approximately $51.08.

Lumentum (NASDAQ:LITE) has a market capitalization of $3.50 billion and generates $1.71 billion in revenue each year. The technology company earns $198.90 million in net income (profit) each year or ($0.55) on an earnings per share basis.

The company employs 6,815 workers across the globe.

Lumentum's mailing address is 400 NORTH MCCARTHY BOULEVARD, MILPITAS CA, 95035. The official website for the company is www.lumentum.com. The technology company can be reached via phone at (408) 546-5483 or via email at investor.relations@lumentum.com.