Equities research analysts expect that Lumentum Holdings Inc (NASDAQ:LITE) will post sales of $359.95 million for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Lumentum’s earnings. The highest sales estimate is $375.00 million and the lowest is $350.20 million. Lumentum posted sales of $265.00 million in the same quarter last year, which would indicate a positive year over year growth rate of 35.8%. The firm is scheduled to announce its next earnings report before the market opens on Tuesday, February 6th.

According to Zacks, analysts expect that Lumentum will report full-year sales of $359.95 million for the current financial year, with estimates ranging from $1.00 billion to $1.42 billion. For the next financial year, analysts forecast that the firm will report sales of $1.41 billion per share, with estimates ranging from $1.24 billion to $1.55 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Lumentum.

Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.09). Lumentum had a positive return on equity of 15.99% and a negative net margin of 9.32%.

Several research firms have recently commented on LITE. Barclays raised shares of Lumentum from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $65.00 to $67.00 in a report on Wednesday, January 10th. MKM Partners lifted their price target on shares of Lumentum to $71.00 and gave the company a “neutral” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $81.00 price target on shares of Lumentum in a report on Wednesday, January 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Lumentum in a report on Thursday, September 21st. Finally, 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 report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $69.69.

In other Lumentum news, CFO Aaron Tachibana sold 1,248 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $74,880.00. Following the sale, the chief financial officer now directly owns 69,830 shares in the company, valued at approximately $4,189,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Penny Herscher sold 822 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $50.61, for a total transaction of $41,601.42. Following the sale, the director now owns 34,793 shares in the company, valued at $1,760,873.73. The disclosure for this sale can be found here. Insiders have sold a total of 31,643 shares of company stock valued at $1,806,554 over the last three months. 0.76% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in LITE. Riverhead Capital Management LLC raised its holdings in shares of Lumentum by 71.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,062 shares of the technology company’s stock worth $118,000 after purchasing an additional 862 shares in the last quarter. 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 worth $152,000 after purchasing an additional 1,406 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Lumentum in the 2nd quarter worth approximately $226,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Lumentum in the 3rd quarter worth approximately $234,000. Finally, First Allied Advisory Services Inc. bought a new stake in shares of Lumentum in the 3rd quarter worth approximately $237,000.

Lumentum (NASDAQ:LITE) traded down $1.55 during midday trading on Wednesday, hitting $51.65. 2,774,200 shares of the stock traded hands, compared to its average volume of 1,666,610. Lumentum has a 1-year low of $34.15 and a 1-year high of $68.63. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.21 and a quick ratio of 4.38. The firm has a market cap of $3,190.00 and a price-to-earnings ratio of -33.76.

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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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