Lumentum Stock Price, News & Analysis (NASDAQ:LITE)

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Lumentum in the last twelve months. There are currently 2 sell ratings, 5 hold ratings and 6 buy ratings for the stock. The consensus among Wall Street research 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 Wall Street analysts have issued 1 year price objectives for Lumentum's shares. Their LITE share price targets range from $40.00 to $57.00. On average, they expect the company's share price to reach $50.00 in the next twelve months. This suggests a possible upside of 18.2% 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 stock has decreased by 18.9% and is now trading at $42.30.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 8th 2024.
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Lumentum Holdings Inc. (NASDAQ:LITE) announced its quarterly earnings results on Wednesday, November, 8th. The technology company reported ($0.10) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.04. The technology company had revenue of $317.60 million for the quarter, compared to analysts' expectations of $313.98 million. Lumentum had a negative net margin of 12.62% and a positive trailing twelve-month return on equity of 6.70%.

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), iShares U.S. Telecommunications ETF (IYZ) and iShares Future Cloud 5G and Tech ETF (IDAT).Invesco Russell 1000 Equal Weight ETF (EQAL).

Lumentum updated its second quarter earnings guidance on Wednesday, November, 8th. The company provided earnings per share (EPS) guidance of $0.25-$0.35 for the period, compared to the consensus EPS estimate of $0.31. The company issued revenue guidance of $350-$380 million, compared to the consensus revenue estimate of $314.04 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's stock is owned by a number of institutional and retail investors. Top institutional shareholders include Earnest Partners LLC (2.42%), Northern Trust Corp (1.22%), Charles Schwab Investment Management Inc. (0.89%), Van Lanschot Kempen Investment Management N.V. (0.75%), Pinnacle Associates Ltd. (0.59%) and Retirement Systems of Alabama (0.52%). Insiders that own company stock include Alan S Lowe, Alan S Lowe, Judy G Hamel, Julia Suzanne Johnson, Matthew Joseph Sepe, Penny Herscher, 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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