Brokerages expect Lumentum Holdings Inc (NASDAQ:LITE) to report earnings per share (EPS) of $1.67 for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Lumentum’s earnings. The lowest EPS estimate is $1.61 and the highest is $1.75. Lumentum also reported earnings of $1.67 per share during the same quarter last year. The firm is expected to announce its next earnings results on Tuesday, February 5th.
On average, analysts expect that Lumentum will report full year earnings of $5.06 per share for the current financial year, with EPS estimates ranging from $4.71 to $5.52. For the next fiscal year, analysts forecast that the firm will report earnings of $5.28 per share, with EPS estimates ranging from $4.00 to $6.55. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Lumentum.
Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, November 1st. The technology company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.29. The firm had revenue of $354.00 million during the quarter, compared to the consensus estimate of $351.21 million. Lumentum had a return on equity of 28.74% and a net margin of 21.21%. The firm’s revenue was up 45.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 EPS.
LITE has been the subject of several recent analyst reports. Needham & Company LLC increased their price target on Lumentum from $80.00 to $90.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 5th. They noted that the move was a valuation call. ValuEngine raised Lumentum from a “hold” rating to a “buy” rating in a research note on Tuesday, August 28th. JPMorgan Chase & Co. raised Lumentum from a “neutral” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Thursday, October 11th. DA Davidson increased their price target on Lumentum from $92.00 to $98.00 and gave the stock a “buy” rating in a research note on Thursday, August 9th. Finally, BidaskClub cut Lumentum from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 13th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $79.68.
In related news, Director Penny Herscher sold 1,197 shares of the company’s stock in a transaction on Friday, November 2nd. The stock was sold at an average price of $52.93, for a total transaction of $63,357.21. Following the transaction, the director now directly owns 34,743 shares of the company’s stock, valued at $1,838,946.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Christopher W. Coldren sold 3,416 shares of the company’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $64.36, for a total value of $219,853.76. The disclosure for this sale can be found here. Insiders have sold 10,421 shares of company stock worth $648,010 over the last three months. 0.55% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC raised its position in Lumentum by 152.9% during the second quarter. MetLife Investment Advisors LLC now owns 68,098 shares of the technology company’s stock valued at $3,943,000 after buying an additional 41,174 shares during the period. First Trust Advisors LP raised its position in Lumentum by 101.5% during the second quarter. First Trust Advisors LP now owns 121,160 shares of the technology company’s stock valued at $7,015,000 after buying an additional 61,027 shares during the period. Schwab Charles Investment Management Inc. raised its position in Lumentum by 7.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 379,953 shares of the technology company’s stock valued at $22,000,000 after buying an additional 27,127 shares during the period. Northern Trust Corp raised its position in Lumentum by 24.4% during the second quarter. Northern Trust Corp now owns 976,037 shares of the technology company’s stock valued at $56,514,000 after buying an additional 191,336 shares during the period. Finally, James Investment Research Inc. acquired a new position in Lumentum during the third quarter valued at $2,231,000.
NASDAQ:LITE opened at $55.95 on Friday. Lumentum has a 1 year low of $41.95 and a 1 year high of $74.40. The firm has a market capitalization of $3.49 billion, a PE ratio of 17.27, a price-to-earnings-growth ratio of 0.70 and a beta of 0.46. The company has a quick ratio of 4.88, a current ratio of 5.52 and a debt-to-equity ratio of 0.34.
Lumentum Company Profile
Lumentum Holdings, Inc engages in the manufacture of optical and photonic products enabling optical networking and commercial laser. It operates through the Optical Communications (OpComms) and Commercial Lasers business segments. The OpComms segment includes modules and subsystems to support and maintain customers in the Telecom and Datacom markets.
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