Lumentum - LITE Stock Forecast, Price & News

13 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Lumentum in the last year. There are currently 6 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" LITE shares.
View LITE analyst ratings or view top-rated stocks.

13 equities research analysts have issued 1-year price targets for Lumentum's stock. Their LITE share price forecasts range from $50.00 to $85.00. On average, they expect the company's share price to reach $68.43 in the next year. This suggests a possible upside of 34.5% from the stock's current price.
View analysts price targets for LITE or view top-rated stocks among Wall Street analysts.

Lumentum's stock was trading at $52.17 at the beginning of 2023. Since then, LITE shares have decreased by 2.5% and is now trading at $50.89.
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Lumentum saw a decrease in short interest in the month of March. As of March 15th, there was short interest totaling 6,410,000 shares, a decrease of 6.4% from the February 28th total of 6,850,000 shares. Based on an average daily volume of 953,000 shares, the days-to-cover ratio is currently 6.7 days. Approximately 9.7% of the company's shares are sold short.
View Lumentum's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Wednesday, May 3rd 2023.
View our LITE earnings forecast.

Lumentum Holdings Inc. (NASDAQ:LITE) issued its earnings results on Thursday, February, 9th. The technology company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.20. The technology company earned $506 million during the quarter, compared to the consensus estimate of $506.13 million. Lumentum had a net margin of 1.56% and a trailing twelve-month return on equity of 17.77%.

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), iShares Future Cloud 5G and Tech ETF (IDAT), 2ndVote Life Neutral Plus ETF (LYFE), ProShares Metaverse ETF (VERS), ProShares Ultra Communication Services (LTL) and Pacer US Export Leaders ETF (PEXL).

Lumentum updated its third quarter 2023 earnings guidance on Thursday, February, 9th. The company provided earnings per share guidance of $1.00-$1.15 for the period, compared to the consensus EPS estimate of $1.02. The company issued revenue guidance of $430.00 million-$460.00 million, compared to the consensus revenue estimate of $469.09 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 many different retail and institutional investors. Top institutional shareholders include Alliancebernstein L.P. (7.08%), Millennium Management LLC (1.75%), Dimensional Fund Advisors LP (1.48%), Geode Capital Management LLC (1.45%), Earnest Partners LLC (1.28%) and Robeco Schweiz AG (1.11%). 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.
View institutional ownership trends.

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 $50.89.

Lumentum (NASDAQ:LITE) has a market capitalization of $3.49 billion and generates $1.71 billion in revenue each year. The technology company earns $198.90 million in net income (profit) each year or $0.37 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.