The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Lumentum Holdings Inc shares valued at $2,542,159 were sold by Ali Wajid on Nov 29 ’24. At $85.06 per share, Ali Wajid sold 29,887 shares. The insider’s holdings dropped to 56,492 shares worth approximately $4.76 million following the completion of this transaction.
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Also, WAJID ALI purchased 29,887 shares, netting a total of over 2,542,158 in proceeds.
Before that, Retort Vincent had sold 41,710 shares from its account. In a trade valued at $3,733,828, the PRESIDENT, INDUSTRIAL TECH. traded Lumentum Holdings Inc shares for $89.52 each. Upon closing the transaction, the insider’s holdings decreased to 41,710 shares, worth approximately $12.44 million.
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 drop of approximately -5.31%. Over the course of the year, Lumentum Holdings Inc shares have jumped approximately 60.63%. Shares of the company reached a 52-week high of $96.25 on 12/13/24 and a 52-week low of $38.28 on 08/05/24. A 50-day SMA is recorded $79.63, while a 200-day SMA reached $57.96. Nevertheless, trading volume fell to 0.51 million shares from 1.5 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 82.48, which, if violated, would cause prices to drop to 80.63. In the upper region, resistance lies at 85.36. The next price resistance is at 86.39. RSI (Relative Strength Index) is 48.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.02, which suggests the price will decrease in the coming days. Percent R is at 80.12%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
