Lumentum Holdings Inc. (LITE) to Release Earnings on Wednesday
Lumentum Holdings Inc. (NASDAQ:LITE) will be releasing its earnings data before the market opens on Wednesday, November 1st. Analysts expect Lumentum Holdings to post earnings of $0.41 per share for the quarter. Lumentum Holdings has set its Q3 guidance at $0.50-0.60 EPS.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.18. Lumentum Holdings had a positive return on equity of 18.12% and a negative net margin of 10.25%. The firm had revenue of $222.70 million during the quarter, compared to the consensus estimate of $229.45 million. During the same period last year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was down 7.9% on a year-over-year basis. On average, analysts expect Lumentum Holdings to post $2.49 EPS for the current fiscal year and $2.82 EPS for the next fiscal year.
Shares of Lumentum Holdings Inc. (LITE) traded down 0.16% during midday trading on Wednesday, hitting $63.00. The company had a trading volume of 313,913 shares. The company’s market cap is $3.88 billion. The stock’s 50-day moving average price is $56.74 and its 200-day moving average price is $56.74. Lumentum Holdings Inc. has a 12 month low of $32.90 and a 12 month high of $63.80.
In other news, CEO Alan S. Lowe sold 4,364 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $54.59, for a total value of $238,230.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Penny Herscher sold 1,313 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total value of $69,641.52. Following the completion of the sale, the director now owns 26,464 shares of the company’s stock, valued at approximately $1,403,650.56. The disclosure for this sale can be found here. Insiders have sold a total of 87,269 shares of company stock valued at $4,602,526 in the last quarter. 0.76% of the stock is currently owned by insiders.
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A number of research firms recently issued reports on LITE. Zacks Investment Research lowered Lumentum Holdings from a “buy” rating to a “hold” rating in a research report on Wednesday. Needham & Company LLC restated a “buy” rating and set a $80.00 price objective on shares of Lumentum Holdings in a research report on Thursday, October 12th. Piper Jaffray Companies restated a “buy” rating and set a $68.00 price objective on shares of Lumentum Holdings in a research report on Monday, October 9th. Jefferies Group LLC restated a “buy” rating and set a $75.00 price objective on shares of Lumentum Holdings in a research report on Friday, October 6th. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price objective (up previously from $70.00) on shares of Lumentum Holdings in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $66.31.
Lumentum Holdings Company Profile
Lumentum Holdings Inc is a 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 Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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