Stocks of Lumentum Holdings Inc (NASDAQ:LITE) traded higher last session on Wall Street, up 2.01% to $63.59.
LITE stock price is now -14.48% away from the 50-day moving average and -6.96% away from the 200-day moving average. The market capitalization of the company currently stands at $4.40B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $96 to $82, Raymond James Upgraded its rating from Outperform to Strong Buy for Lumentum Holdings Inc (NASDAQ: LITE). On March 11, 2025, Exane BNP Paribas Upgraded its previous ‘Neutral’ rating to ‘Outperform’ on the stock keeping its target price maintained at $92, while ‘Jefferies’ rates the stock as ‘Buy’
In other news, Ali Wajid, EVP & CHIEF FINANCIAL OFFICER sold 2,172 shares of the company’s stock on Feb 18 ’25. The stock was sold for $170,161 at an average price of $78.34. Upon completion of the transaction, the EVP & CHIEF FINANCIAL OFFICER now directly owns 51,976 shares in the company, valued at $3.31 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 18 ’25, Officer WAJID ALI bought 2,172 shares of the business’s stock. A total of $170,161 was incurred on buying the stock at an average price of $78.34. A total of 4.37% of the company’s stock is owned by insiders.
During the past 12 months, Lumentum Holdings Inc has had a low of $38.28 and a high of $104.00. As of last week, the company has a debt-to-equity ratio of 2.99, a current ratio of 4.76, and a quick ratio of 3.60. The fifty day moving average price for LITE is $74.36 and a two-hundred day moving average price translates $68.34675 for the stock.
The latest earnings results from Lumentum Holdings Inc (NASDAQ: LITE) was released for 2024-12-28. The net profit margin was -36.98% and return on equity was -48.63% for LITE. The company reported revenue of $402.2 million for the quarter, compared to $366.8 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.65 percent.
