Equities research analysts forecast that Lumentum Holdings Inc (NASDAQ:LITE) will report $1.27 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for Lumentum’s earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.34. Lumentum reported earnings per share of $1.15 in the same quarter last year, which suggests a positive year over year growth rate of 10.4%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 4th.
According to Zacks, analysts expect that Lumentum will report full year earnings of $4.82 per share for the current year, with EPS estimates ranging from $4.62 to $5.00. For the next year, analysts anticipate that the business will post earnings of $5.49 per share, with EPS estimates ranging from $4.84 to $5.75. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Lumentum.
Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, October 31st. The technology company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.20 by $0.24. The company had revenue of $449.90 million during the quarter, compared to the consensus estimate of $448.16 million. Lumentum had a negative net margin of 2.18% and a positive return on equity of 17.81%. The firm’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.31 earnings per share.
Several analysts recently issued reports on LITE shares. JPMorgan Chase & Co. set a $74.00 price objective on shares of Lumentum and gave the company a “buy” rating in a research note on Friday, November 1st. BidaskClub raised shares of Lumentum from a “hold” rating to a “buy” rating in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $70.00 price objective on shares of Lumentum in a research note on Monday, October 28th. Zacks Investment Research cut shares of Lumentum from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Finally, Craig Hallum upped their price objective on shares of Lumentum from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. They noted that the move was a valuation call. Two research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $71.07.
In other Lumentum news, SVP Judy G. Hamel sold 5,792 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $65.00, for a total value of $376,480.00. Following the transaction, the senior vice president now directly owns 51,795 shares in the company, valued at approximately $3,366,675. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan S. Lowe sold 10,779 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $59.87, for a total transaction of $645,338.73. Following the completion of the transaction, the chief executive officer now owns 192,132 shares in the company, valued at $11,502,942.84. The disclosure for this sale can be found here. Insiders sold a total of 189,519 shares of company stock worth $11,030,676 over the last quarter. 0.48% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the business. Chicago Equity Partners LLC boosted its holdings in Lumentum by 59.6% in the 3rd quarter. Chicago Equity Partners LLC now owns 21,610 shares of the technology company’s stock valued at $1,157,000 after purchasing an additional 8,070 shares during the last quarter. Creative Planning boosted its holdings in Lumentum by 31.8% in the 2nd quarter. Creative Planning now owns 4,817 shares of the technology company’s stock valued at $257,000 after purchasing an additional 1,162 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lumentum by 2.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 544,805 shares of the technology company’s stock worth $29,099,000 after acquiring an additional 14,273 shares during the last quarter. Enlightenment Research LLC acquired a new position in shares of Lumentum in the 2nd quarter worth approximately $291,000. Finally, Tuttle Tactical Management acquired a new position in shares of Lumentum in the 3rd quarter worth approximately $900,000. Institutional investors own 94.72% of the company’s stock.
NASDAQ LITE traded up $0.91 on Monday, reaching $68.90. 1,547,100 shares of the company’s stock traded hands, compared to its average volume of 1,378,834. Lumentum has a fifty-two week low of $37.29 and a fifty-two week high of $69.09. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 20.88, a P/E/G ratio of 1.70 and a beta of 1.37. The company has a debt-to-equity ratio of 0.58, a quick ratio of 3.85 and a current ratio of 4.49. The stock has a 50 day moving average price of $57.48 and a 200-day moving average price of $54.79.
Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments, Optical Communications and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.
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