Analysts forecast that Lumentum Holdings Inc (NASDAQ:LITE) will post $359.95 million in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Lumentum’s earnings, with the highest sales estimate coming in at $375.00 million and the lowest estimate coming in at $350.20 million. Lumentum posted sales of $265.00 million during the same quarter last year, which suggests a positive year-over-year growth rate of 35.8%. The company is scheduled to report its next earnings results on Tuesday, February 6th.

According to Zacks, analysts expect that Lumentum will report full year sales of $359.95 million for the current year, with estimates ranging from $1.00 billion to $1.42 billion. For the next year, analysts expect that the company will report sales of $1.41 billion per share, with estimates ranging from $1.24 billion to $1.55 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Lumentum.

Several brokerages have issued reports on LITE. Jefferies Group restated a “buy” rating and set a $75.00 target price on shares of Lumentum in a research report on Wednesday, November 1st. Craig Hallum restated a “buy” rating and set a $85.00 target price (up previously from $75.00) on shares of Lumentum in a research report on Wednesday, November 1st. DA Davidson lifted their price target on shares of Lumentum from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. MKM Partners boosted their price objective on shares of Lumentum to $71.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Finally, Barclays upped their price target on Lumentum from $59.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $68.75.

In related news, Director Penny Herscher sold 822 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $50.61, for a total transaction of $41,601.42. Following the completion of the transaction, the director now owns 34,793 shares of the company’s stock, valued at approximately $1,760,873.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Vincent Retort sold 30,706 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $54.46, for a total transaction of $1,672,248.76. Following the transaction, the chief operating officer now directly owns 110,770 shares of the company’s stock, valued at approximately $6,032,534.20. The disclosure for this sale can be found here. In the last three months, insiders sold 66,713 shares of company stock valued at $3,717,034. Corporate insiders own 0.76% of the company’s stock.

A number of hedge funds have recently modified their holdings of LITE. Riverhead Capital Management LLC boosted its position in Lumentum by 71.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock valued at $118,000 after buying an additional 862 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Lumentum by 111.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,662 shares of the technology company’s stock valued at $152,000 after purchasing an additional 1,406 shares in the last quarter. World Asset Management Inc acquired a new stake in shares of Lumentum in the 2nd quarter valued at $211,000. Virtu KCG Holdings LLC acquired a new stake in shares of Lumentum in the 2nd quarter valued at $226,000. Finally, Alpine Woods Capital Investors LLC acquired a new stake in shares of Lumentum in the 2nd quarter valued at $229,000. 95.70% of the stock is owned by institutional investors.

Lumentum (LITE) traded down $1.48 on Thursday, reaching $50.27. The company had a trading volume of 12,293,800 shares, compared to its average volume of 1,888,035. Lumentum has a 12 month low of $34.15 and a 12 month high of $68.63. The stock has a market capitalization of $3,110.00 and a price-to-earnings ratio of 36.19. The company has a current ratio of 5.21, a quick ratio of 4.38 and a debt-to-equity ratio of 0.50.

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Lumentum 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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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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