Lumentum Holdings Inc (NASDAQ:LITE) shares, rose in value on Wednesday, March 26, with the stock price down by -6.98% to the previous day’s close as strong demand from buyers drove the stock to $66.11.
Actively observing the price movement in the last trading, the stock closed the session at $71.07, falling within a range of $65.55 and $71.02. The value of beta (5-year monthly) was 1.038. Referring to stock’s 52-week performance, its high was $104.00, and the low was $38.28. On the whole, LITE has fluctuated by -6.08% over the past month.
With the market capitalization of Lumentum Holdings Inc currently standing at about $4.57 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2025-Feb-05.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 1.61B, with a low estimate of 412.5M and a high estimate of 424.7M. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 418.19M.
Technical indicators serve as essential tools for traders, offering insights into market sentiment and potential price movements. We see that LITE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium-term indicators have put the stock in the category of Hold while long-term indicators on average have been pointing out that it is a 50% Sell.
The stock’s technical analysis shows that the price of LITE currently trading nearly 0.45% and -13.53% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 45.74, while the 7-day volatility ratio is showing 5.45% which for the 30-day chart, stands at 7.16%. Furthermore, Lumentum Holdings Inc (LITE)’s beta value is 1.11, and its average true range (ATR) is 5.00.
A comparison of Lumentum Holdings Inc (LITE) with its peers suggests the former has fared considerably weaker in the market. LITE showed an intraday change of -6.98% in last session, and over the past year, it grew by 29.93%%.
Data on historical trading for Lumentum Holdings Inc (NASDAQ:LITE) indicates that the trading volumes over the past 10 days have averaged 2.72 and over the past 3 months, they’ve averaged 2.46 million. According to company’s latest data on outstanding shares, there are 69.10 million shares outstanding.
Nearly 4.37% of Lumentum Holdings Inc’s shares belong to company insiders and institutional investors own 112.04% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 10.41 million shares as on 2025-03-14, resulting in a short ratio of 3.81. According to the data, the short interest in Lumentum Holdings Inc (LITE) stood at 2010.00 of shares outstanding as of 2025-03-14; the number of short shares registered in 2025-02-14 reached 10.22 million. The stock has fallen by -21.25% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the LITE stock heading into the next quarter.
