Lumentum Holdings Inc (NASDAQ:LITE) – Equities researchers at B. Riley lowered their Q3 2018 EPS estimates for Lumentum in a report issued on Wednesday. B. Riley analyst D. Kang now anticipates that the technology company will post earnings per share of $0.56 for the quarter, down from their prior estimate of $0.83. B. Riley has a “Buy” rating and a $85.00 price target on the stock. B. Riley also issued estimates for Lumentum’s Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $2.75 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $1.73 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $4.09 EPS.
A number of other equities research analysts have also issued reports on the stock. TheStreet upgraded shares of Lumentum from a “c” rating to a “b-” rating in a report on Wednesday, February 7th. Northland Securities restated a “buy” rating and set a $82.00 price target on shares of Lumentum in a report on Wednesday, February 7th. Loop Capital boosted their price objective on shares of Lumentum to $70.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. DA Davidson boosted their price objective on shares of Lumentum to $101.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, Piper Jaffray Companies boosted their price objective on shares of Lumentum from $81.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Lumentum has a consensus rating of “Buy” and a consensus price target of $71.94.
Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The business had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue was up 52.7% compared to the same quarter last year.
In other Lumentum news, Director Penny Herscher sold 822 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the sale, the director now directly owns 34,793 shares of the company’s stock, valued at $1,760,873.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Martin A. Kaplan sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $55.03, for a total transaction of $165,090.00. Following the completion of the sale, the director now directly owns 26,573 shares of the company’s stock, valued at $1,462,312.19. The disclosure for this sale can be found here. Insiders sold 16,643 shares of company stock valued at $950,504 over the last three months. Insiders own 0.76% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. SeaCrest Wealth Management LLC bought a new stake in Lumentum in the fourth quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Lumentum by 42.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,797 shares of the technology company’s stock worth $186,000 after acquiring an additional 1,135 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Lumentum during the 2nd quarter worth $226,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Lumentum during the 3rd quarter worth $234,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Lumentum during the 4th quarter worth $236,000.
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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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