Lumentum (LITE) Scheduled to Post Quarterly Earnings on Monday

Lumentum (NASDAQ:LITE) is set to post its quarterly earnings results after the market closes on Monday, May 6th. Analysts expect Lumentum to post earnings of $0.26 per share for the quarter. Lumentum has set its Q3 guidance at $0.25-$0.35 EPS and its Q3 2024 guidance at 0.200-0.350 EPS.Parties that are interested in registering for the company’s conference call can do so using this link.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. The business had revenue of $366.80 million for the quarter, compared to the consensus estimate of $363.44 million. On average, analysts expect Lumentum to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Lumentum Stock Up 1.0 %

LITE stock opened at $44.74 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96. The firm has a market cap of $3.02 billion, a PE ratio of -11.24 and a beta of 1.09. Lumentum has a 1 year low of $35.35 and a 1 year high of $65.16. The company has a fifty day simple moving average of $46.41 and a 200 day simple moving average of $47.07.

Analyst Ratings Changes

LITE has been the subject of several recent analyst reports. Susquehanna decreased their price target on Lumentum from $65.00 to $60.00 and set a “positive” rating for the company in a research note on Friday, February 9th. JPMorgan Chase & Co. dropped their price target on shares of Lumentum from $62.00 to $57.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Lumentum in a research note on Friday, February 9th. Barclays raised their target price on shares of Lumentum from $40.00 to $45.00 and gave the company an “underweight” rating in a research note on Tuesday, January 16th. Finally, B. Riley cut their target price on shares of Lumentum from $42.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.69.

Insider Buying and Selling at Lumentum

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the transaction, the chief accounting officer now directly owns 33,188 shares in the company, valued at $1,633,845.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.60% of the company’s stock.

About Lumentum

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.