Lumentum Holdings Inc’s recent filing unveils that its CHIEF ACCOUNTING OFFICER Sepe Matthew Joseph unloaded Company’s shares for reported $0.49 million on Feb 15 ’24. In the deal valued at $49.23 per share,9,903 shares were sold. As a result of this transaction, Sepe Matthew Joseph now holds 33,188 shares worth roughly $1.52 million.
Then, Johnson Julia Suzanne sold 1,163 shares, generating $51,370 in total proceeds. Upon selling the shares at $44.17, the Director now owns 22,032 shares.
Before that, Ali Wajid sold 6,872 shares. Lumentum Holdings Inc shares valued at $415,756 were divested by the EVP & Chief Financial Officer at a price of $60.50 per share. As a result of the transaction, Ali Wajid now holds 35,629 shares, worth roughly $1.64 million.
Craig Hallum upgraded its Lumentum Holdings Inc [LITE] rating to a Buy from a a Hold in a research note published recently. A number of analysts have revised their coverage, including Rosenblatt’s analysts, who increased its forecast for the stock in mid August from “a Neutral” to “a Buy”. BofA Securities also remained covering LITE and has decreased its forecast on July 18, 2023 with a “an Underperform” recommendation from previously “Neutral” rating. Barclays revised its rating on July 05, 2023. It rated LITE as “an Underweight” which previously was an “an Equal weight”.
Price Performance Review of LITE
On Friday, Lumentum Holdings Inc [NASDAQ:LITE] saw its stock fall -1.29% to $45.90. Over the last five days, the stock has lost -3.06%. Lumentum Holdings Inc shares have fallen nearly -12.44% since the year began. Nevertheless, the stocks have fallen -12.49% over the past one year. While a 52-week high of $65.16 was reached on 02/06/24, a 52-week low of $35.35 was recorded on 03/15/24. SMA at 50 days reached $50.06, while 200 days put it at $48.67. A total of 0.72 million shares were traded, compared to the trading of 0.65 million shares in the previous session.
Levels Of Support And Resistance For LITE Stock
The 24-hour chart illustrates a support level at 45.56, which if violated will result in even more drops to 45.22. On the upside, there is a resistance level at 46.43. A further resistance level may holdings at 46.96. The Relative Strength Index (RSI) on the 14-day chart is 40.15, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.45, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 93.21%. Stochastics %K at 22.08% indicates the stock is a holding.
How much short interest is there in Lumentum Holdings Inc?
A steep rise in short interest was recorded in Lumentum Holdings Inc stocks on Mar 15, 2024, dropping by 50000.0 shares to a total of 10.06 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 10.11 million shares. There was a decline of -0.5%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 19.03% of the overall stock float, the days-to-cover ratio (short ratio) fell to 7.07.
