Lumentum Holdings Inc. (NASDAQ:LITE – Get Free Report) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 9,490,000 shares, a decline of 8.8% from the July 15th total of 10,410,000 shares. Approximately 14.8% of the shares of the stock are short sold. Based on an average daily volume of 1,150,000 shares, the days-to-cover ratio is presently 8.3 days.
Lumentum Stock Down 0.5 %
Lumentum stock opened at $51.98 on Monday. The company has a market cap of $3.51 billion, a P/E ratio of -9.90, a price-to-earnings-growth ratio of 39.11 and a beta of 0.88. Lumentum has a 1-year low of $35.35 and a 1-year high of $60.99. The company has a fifty day simple moving average of $50.52 and a 200 day simple moving average of $48.14. The company has a current ratio of 5.20, a quick ratio of 3.87 and a debt-to-equity ratio of 2.13.
Lumentum (NASDAQ:LITE – Get Free Report) last posted its earnings results on Wednesday, August 14th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $308.30 million during the quarter, compared to analysts’ expectations of $301.36 million. Lumentum had a negative net margin of 24.91% and a negative return on equity of 1.72%. Lumentum’s quarterly revenue was down 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.12 EPS. Research analysts anticipate that Lumentum will post -0.64 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Get Our Latest Stock Analysis on Lumentum
Institutional Investors Weigh In On Lumentum
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Point72 DIFC Ltd bought a new stake in shares of Lumentum during the 2nd quarter valued at approximately $36,000. Principal Securities Inc. acquired a new stake in Lumentum during the 4th quarter worth approximately $55,000. CENTRAL TRUST Co boosted its position in Lumentum by 714.3% during the 1st quarter. CENTRAL TRUST Co now owns 1,140 shares of the technology company’s stock worth $54,000 after buying an additional 1,000 shares during the period. Signaturefd LLC boosted its position in Lumentum by 93.9% during the 2nd quarter. Signaturefd LLC now owns 1,144 shares of the technology company’s stock worth $58,000 after buying an additional 554 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Lumentum during the 1st quarter worth approximately $112,000. 94.05% of the stock is owned by institutional investors.
About Lumentum
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.
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