Lumentum (NASDAQ:LITE) Downgraded by Raymond James to Outperform

Lumentum stock has undergone multiple analysts rating changes in the recent past.  Lumentum Downgraded by Raymond James on 10-12-21. In a note to investors, the firm issued a new rating of Outperform. The analysts previously had rating of Strong-Buy.

Shares of Lumentum traded down -$0.92 on Tuesday, reaching $84.62. 55 shares of the stock traded hands, compared to its average volume of 521996. Shares of Lumentum were trading at $84.62 on Tuesday. The firm’s 50 day moving average is $84.41 and its 200 day moving average is $86.82.Lumentum has a 12 month low of $83.59 and a 12 month high of $112.08. While on yearly highs and lows, Lumentum’s today has traded high as $84.94 and has touched $83.59 on the downward trend. See More Analyst Rating at: RATING

Lumentum Earnings and What to expect: 

Lumentum last issued its earnings results on August 17th, 2021. The technology company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.09. The firm earned $392.10 million during the quarter, compared to the consensus estimate of $382.17 million. Its revenue was up 6.5% compared to the same quarter last year. Lumentum has generated $5.13 earnings per share over the last year ($5.05 diluted earnings per share) and currently has a price-to-earnings ratio of 16.8. Earnings for Lumentum are expected to grow by 8.30% in the coming year, from $4.58 to $4.96 per share. Lumentum has not formally confirmed its next earnings publication date, but the company’s estimated earnings date is Monday, November 1st, 2021 based off prior year’s report dates.

Earnings for Lumentum are expected to grow by 8.30% in the coming year, from $4.58 to $4.96 per share. The P/E ratio of Lumentum is 16.76, which means that it is trading at a more expensive P/E ratio than the market average P/E ratio of about 14.78. The P/E ratio of Lumentum is 16.76, which means that it is trading at a less expensive P/E ratio than the Computer and Technology sector average P/E ratio of about 39.01. Lumentum has a P/B Ratio of 3.26. P/B Ratios above 3 indicate that a company could be overvalued with respect to its assets and liabilities.

Lumentum (NASDAQ:LITE) Moving Average Technical Analysis

5 day Moving Average is $84.20 And 5 day price change is $2.64 (3.22%)  with average volume for 5 day average is 502,460. While technical analysis for average 20 days shows significant difference, 20 day moving average is  $84.62 and 20 day price change is -$1.29 (-1.50%) and average 20 day moving volume is 549,410. 50 day moving average is $84.41  and 50 day price change is $1.15 ( 1.38%)  and with average volume for 50 days is : 617,516. 200 day moving average is $86.82  and 200 day price change is -$13.68 (-13.92%)  and with average volume for 200 days is : 1,225,423.

Other owners latest trading in Lumentum :

  • On 10/12/2021 shares held by Koshinski Asset Management Inc. were 1,335 which equates to market value of $0.11M and appx 0.00% owners of Lumentum
  • On 10/12/2021 shares held by Green Alpha Advisors LLC were 12,691 which equates to market value of $1.06M and appx 0.70% owners of Lumentum
  • On 10/12/2021 shares held by F&V Capital Management LLC were 77,945 which equates to market value of $6.51M and appx 2.60% owners of Lumentum
  • In total Institutional ownership equates to Institutional Ownership Percentage: 87.83% for Lumentum

See More Analyst Rating at: RATING