LITE Stock Summary and Trading Ideas (Lumentum Holdings | NASDAQ:LITE)

Lumentum Holdings Inc is a California-based technology firm. The company provides two types of optical and photonic products: optical components that are used in telecommunications networking equipment, and commercial lasers for manufacturing, inspection, and life-science lab uses. Its segments are Optical Communications and Commercial Lasers. The firm is also expanding into new optical applications, such as 3-D sensing laser diode for consumer electronics. It generates maximum revenue from the OpComms segment. The OpComms segment products include a wide range of components, modules, and subsystems to support customers including carrier networks for access (local), metro (intracity), long-haul, and submarine (undersea) applications.

Lumentum Holdings trades on the NASDAQ stock market under the symbol LITE.

As of January 27, 2025, LITE stock price declined to $74.17 with 6,989,894 million shares trading.

LITE has a beta of 3.12, meaning it tends to be more sensitive to market movements. LITE has a correlation of 0.54 to the broad based SPY ETF.

LITE has a market cap of $5.10 billion. This is considered a Mid Cap stock.

Last quarter Lumentum Holdings reported $337 million in Revenue and $.18 earnings per share. This beat revenue expectation by $12 million and exceeded earnings estimates by $.06.

In the last 3 years, LITE traded as high as $105.05 and as low as $35.35.

The top ETF exchange traded funds that LITE belongs to (by Net Assets): IJH, VTI, VB, VGT, VXF.

LITE has outperformed the market in the last year with a return of +35.8%, while the SPY ETF gained +24.9%. In the last 3 month period, LITE beat the market returning +14.7%, while SPY returned +3.8%. However, in the most recent 2 weeks LITE has underperformed the stock market by returning -12.1%, while SPY returned +3.3%.

LITE support price is $92.66 and resistance is $98.64 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that LITE shares will trade within this expected range on the day.