Lumentum - LITE Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Lumentum in the last twelve months. There are currently 3 hold ratings and 10 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" LITE shares.
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13 brokers have issued 12 month price targets for Lumentum's stock. Their LITE share price forecasts range from $55.00 to $100.00. On average, they predict the company's share price to reach $78.23 in the next year. This suggests a possible upside of 51.3% from the stock's current price.
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Lumentum's stock was trading at $105.77 at the beginning of 2022. Since then, LITE stock has decreased by 51.1% and is now trading at $51.70.
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Lumentum saw a decline in short interest during the month of November. As of November 15th, there was short interest totaling 6,200,000 shares, a decline of 15.6% from the October 31st total of 7,350,000 shares. Based on an average daily trading volume, of 982,100 shares, the days-to-cover ratio is currently 6.3 days. Currently, 9.4% of the shares of the stock are sold short.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, February 2nd 2023.
View our LITE earnings forecast.

Lumentum Holdings Inc. (NASDAQ:LITE) issued its quarterly earnings data on Thursday, November, 4th. The technology company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.24. The technology company earned $448.40 million during the quarter, compared to analyst estimates of $439.95 million. Lumentum had a net margin of 6.61% and a trailing twelve-month return on equity of 17.99%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.53 earnings per share.

Lumentum issued an update on its second quarter 2023 earnings guidance on Thursday, December, 8th. The company provided EPS guidance of $1.20-$1.45 for the period, compared to the consensus earnings per share estimate of $1.60. The company issued revenue guidance of $490.00 million-$520.00 million, compared to the consensus revenue estimate of $540.25 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 institutional and retail investors. Top institutional investors include Vanguard Group Inc. (9.17%), Alliancebernstein L.P. (7.65%), Dimensional Fund Advisors LP (1.40%), Nuveen Asset Management LLC (1.30%), Fisher Asset Management LLC (1.09%) and Pinnacle Associates Ltd. (0.81%). 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 $51.70.

Lumentum (NASDAQ:LITE) has a market capitalization of $3.53 billion and generates $1.71 billion in revenue each year. The technology company earns $198.90 million in net income (profit) each year or $1.58 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.