AI Trading Ideas
AI Trading NASDAQ Fri, 12 May
Dear Reader,
Our featured asset today is LITE: Lumentum Holdings Inc. If you had used our AI strategy to trade between 2020-08-14 and 2022-08-24, you could have potentially achieved a return of 154.58%. On average, each trade generated a gain of 30.92% and held the position for 91.0 days. There were a total of 5.0 positions taken over the said period.
The trading idea suggests that LITE is a STRONGBUY since 2023-05-11 with a price target of 46.55. This is based on a model that has an accuracy of 0.69 when predicting an upward trend in the following 2 weeks, historically. The analyst consensus price target is 71.03.
Lumentum Holdings Inc is a technology company based in Milpitas, California. It was founded in the year 2000 and specializes in the design, manufacture, and supply of optical and photonic products. The company’s products are used in a variety of applications, such as 3D sensing, laser machining, optical networking, and communications. Among its products are laser diode and laser diodes, optical amplifiers, telecom transceivers, and optical components.
Lumentum has grown significantly since its founding, and in 2019 the company reported total revenues of $1.3 billion. As of 2020, the company employs over 2,500 people and operates facilities in the United States, Canada, China, Europe, and Asia Pacific. The company is publicly traded on the Nasdaq stock exchange under the ticker symbol “LITE”.
Lumentum Holdings Inc (LITE) is a technology company that manufactures optical and photonic products for a variety of different industries. The company’s share price has seen significant movements over the past few years. On January 1, 2020, the stock was trading at $54.11 per share. By June 30, 2020, the stock had risen to $77.45 per share, representing a 43.2% increase. By December 31, 2020, the stock had fallen to $59.17 per share, representing a 23.3% decrease from the June high. However, the stock has seen a sharp rebound in 2021, rising to $83.27 per share on April 28, 2021, representing a 40.7% increase since the start of the year.
Lumentum Holdings Inc is a technology company that manufactures and markets optical and photonic products. The company has seen steady growth in its share price over the past five years, with a high of $77.99 on February 13th, 2020 and a low of $27.15 on March 23rd, 2020. Over the same period, the company has seen consistent revenue growth, increasing from $1.2 billion in fiscal year 2016 to $2.1 billion in fiscal year 2020. Additionally, its gross profit margin has remained stable, at around 34%. In its latest quarterly results, reported on August 6th, 2020, the company reported a revenue of $541 million, up 19% year-over-year. Net income also increased from $25 million to $55 million, a 120% increase. These results reflect the company’s strong performance over the past five years, and suggest that its growth is likely to continue.
| Date | Symbol | Prediction | Model Accuracy | Price Target | Analyst Target |
|---|---|---|---|---|---|
| 2023-05-11 | LITE | STRONGBUY | 0.69 | 46.55 | 71.03 |
| 2023-05-03 | LITE | MEDIUMBUY | 0.69 | 48.36 | 71.03 |
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