Digging Up the Facts on Lumentum Holdings Inc. (LITE)

Lumentum Holdings Inc. (LITE) is an interesting player in the Technology space, with a focus on Communication Equipment. The stock has been active on the tape, currently trading at $63.50, up from yesterday’s close by 4.53%. Given the stock’s recent action, it seemed like a good time to take a closer look at the company’s recent data.

Fundamental Analysis

Lumentum Holdings Inc. (LITE) currently trades with a market capitalization of $4.05 Billion. That value represents a market adjusting for revenues that have been growing by 52.68 % on a quarterly year/year basis as of the company’s last quarterly report.

You can get a sense of how sustainable that is by a levered free cash flow of $20.3 Million over the past twelve months. Generally speaking, earnings are expected to fall in coming quarters. Analysts are forecasting earnings of $0.71 on a per share basis this quarter. Perhaps, that suggests something about why 0.96% of the outstanding share supply is held by institutional investors.

Technical Analysis

Sometimes, we can understand most about a stock by simply looking at how it has been trading. Looking at the stock’s movement on the chart, Lumentum Holdings Inc. recorded a 52-week high of $74.40. It is now trading 10.9% off that level. The stock is trading $61.09 its 50-day moving average by -2.41%. The stock carved out a 52-week low down at $40.35.

In recent action, Lumentum Holdings Inc. (LITE) has made a move of -11.68% over the past month, which has come on Strong relative transaction volume. Over the trailing year, the stock is underperforming the S&P 500 by 14.08, and it’s gotten there by action that has been less volatile on a day-to-day basis than most other stocks on the exchange. In terms of the mechanics underlying that movement, traders will want to note that the stock is trading on a float of 18.74% with $60.37 Million sitting short, betting on future declines. That suggests something of the likelihood of a short squeeze in shares of LITE.

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