Stock of the Day: Could Lumentum Holdings Inc See a Reversal After Breaking All Highs?

Stock of the Day: Could Lumentum Holdings Inc See a Reversal After Breaking All Highs?

The stock of Lumentum Holdings Inc (NASDAQ:LITE) reached all time high today, Oct, 5 and still has $53.68 target or 25.00% above today’s $42.94 share price. This indicates more upside for the $2.62 billion company. This technical setup was reported by If the $53.68 PT is reached, the company will be worth $655.00M more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 250,462 shares traded hands. Lumentum Holdings Inc (NASDAQ:LITE) has risen 66.55% since March 2, 2016 and is uptrending. It has outperformed by 58.29% the S&P500.

Analysts await Lumentum Holdings Inc (NASDAQ:LITE) to report earnings on November, 8. They expect $0.36 earnings per share, up 140.00% or $0.21 from last year’s $0.15 per share. LITE’s profit will be $21.97M for 29.82 P/E if the $0.36 EPS becomes a reality. After $0.35 actual earnings per share reported by Lumentum Holdings Inc for the previous quarter, Wall Street now forecasts 2.86% EPS growth.

Lumentum Holdings Inc (NASDAQ:LITE) Ratings Coverage

Out of 14 analysts covering Lumentum (NASDAQ:LITE), 6 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 43% are positive. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Lumentum Holdings Inc (NASDAQ:LITE) has “Buy” rating given on Tuesday, January 12 by M Partners. As per Wednesday, November 11, the company rating was maintained by Barclays Capital. RBC Capital Markets initiated Lumentum Holdings Inc (NASDAQ:LITE) rating on Monday, August 10. RBC Capital Markets has “Outperform” rating and $22.0 price target. The firm has “Neutral” rating by JP Morgan given on Thursday, August 6. On Tuesday, August 4 the stock rating was initiated by Needham with “Buy”. The rating was maintained by Stifel Nicolaus with “Buy” on Friday, February 5. RBC Capital Markets downgraded Lumentum Holdings Inc (NASDAQ:LITE) rating on Wednesday, September 9. RBC Capital Markets has “Sector Perform” rating and $20 price target. The stock has “Overweight” rating given by Piper Jaffray on Tuesday, February 23. The rating was maintained by Jefferies on Wednesday, November 11 with “Hold”. The firm has “Buy” rating by M Partners given on Wednesday, July 20.

According to Zacks Investment Research, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California.”

More news for Lumentum Holdings Inc (NASDAQ:LITE) were recently published by:, which released: “Spin-Off In The Spotlight: Lumentum Holdings Inc.” on October 04, 2016.‘s article titled: “Lumentum Holdings Inc (LITE) CEO and President Alan S Lowe Sold $5.9 million …” and published on August 25, 2016 is yet another important article.

LITE Company Profile

Lumentum Holdings Inc., incorporated on February 10, 2015, is a well-known provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s clients include original equipment manufacturers (OEMs).

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