Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Lumentum Holdings Inc shares valued at $131,778 were sold by HERSCHER PENNY on Nov 18 ’24. At $81.09 per share, HERSCHER PENNY sold 1,625 shares. The insider’s holdings dropped to 6,852 shares worth approximately $0.59 million following the completion of this transaction.
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Also, HERSCHER PENNY sold 542 shares, netting a total of over 44,382 in proceeds. Following the sale of shares at $81.89 each, the insider now holds 6,310 shares.
Before that, COVERT HAROLD L had added 3,345 shares to its account. In a trade valued at $273,554, the Director bought Lumentum Holdings Inc shares for $81.78 each.
As published in a research note from Needham on August 15, 2024, Lumentum Holdings Inc [LITE] has been retained to a Buy and the price target has been revised to $70. Analysts at Craig Hallum upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late December. As of August 18, 2023, Rosenblatt has increased its “Neutral” rating to a “Buy” for LITE. Earlier on July 18, 2023, BofA Securities downgraded its rating. Their new recommendation was “an Underperform” for LITE stock which previously was a “a Neutral”.
Analyzing LITE Stock Performance
During the last five days, there has been a surge of approximately 0.56%. Over the course of the year, Lumentum Holdings Inc shares have jumped approximately 63.32%. Shares of the company reached a 52-week high of $90.51 on 11/21/24 and a 52-week low of $38.28 on 08/05/24. A 50-day SMA is recorded $68.76, while a 200-day SMA reached $53.66. Nevertheless, trading volume fell to 3.66 million shares from 1.59 million shares the previous day.
Support And Resistance Levels for Lumentum Holdings Inc (LITE)
According to the 24-hour chart, there is a support level at 83.38, which, if violated, would cause prices to drop to 81.16. In the upper region, resistance lies at 89.17. The next price resistance is at 92.74. RSI (Relative Strength Index) is 69.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.60, which suggests the price will increase in the coming days. Percent R is at 18.57%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
