Lumentum Holdings Inc (LITE) Expected to Announce Earnings of $0.65 Per Share

Equities research analysts expect that Lumentum Holdings Inc (NASDAQ:LITE) will post earnings of $0.65 per share for the current quarter, according to Zacks. Six analysts have issued estimates for Lumentum’s earnings. The highest EPS estimate is $0.69 and the lowest is $0.62. Lumentum posted earnings of $0.39 per share during the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The firm is scheduled to report its next earnings results on Wednesday, August 8th.

On average, analysts expect that Lumentum will report full-year earnings of $3.53 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $3.56. For the next year, analysts expect that the company will report earnings of $4.16 per share, with EPS estimates ranging from $3.87 to $4.48. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Lumentum.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.07. The firm had revenue of $299.00 million during the quarter, compared to the consensus estimate of $292.30 million. Lumentum had a return on equity of 23.35% and a net margin of 13.63%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share.

A number of research firms have weighed in on LITE. BidaskClub upgraded Lumentum from a “hold” rating to a “buy” rating in a research note on Friday, May 4th. Zacks Investment Research downgraded Lumentum from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. JPMorgan Chase & Co. raised their price target on Lumentum from $74.00 to $78.00 and gave the company a “hold” rating in a research note on Wednesday, May 23rd. Goldman Sachs Group upgraded Lumentum from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Wednesday. Finally, Loop Capital raised their price target on Lumentum to $86.00 and gave the company a “buy” rating in a research note on Tuesday, March 20th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Lumentum currently has a consensus rating of “Buy” and an average price target of $81.39.

Lumentum traded down $0.35, reaching $57.70, during mid-day trading on Friday, MarketBeat reports. The company had a trading volume of 1,424,118 shares, compared to its average volume of 1,286,975. The company has a quick ratio of 4.81, a current ratio of 5.56 and a debt-to-equity ratio of 0.38. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 36.29, a P/E/G ratio of 1.08 and a beta of 0.06. Lumentum has a 52 week low of $41.95 and a 52 week high of $74.40.

In other news, CEO Alan S. Lowe sold 11,672 shares of Lumentum stock in a transaction that occurred on Monday, May 21st. The stock was sold at an average price of $63.02, for a total transaction of $735,569.44. Following the completion of the transaction, the chief executive officer now directly owns 208,062 shares in the company, valued at approximately $13,112,067.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aaron Tachibana sold 1,697 shares of Lumentum stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $63.40, for a total value of $107,589.80. The disclosure for this sale can be found here. Insiders have sold a total of 29,440 shares of company stock valued at $1,863,478 over the last quarter. 0.76% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new position in shares of Lumentum during the 1st quarter worth approximately $2,408,000. Suntrust Banks Inc. boosted its stake in Lumentum by 94.6% in the 1st quarter. Suntrust Banks Inc. now owns 9,574 shares of the technology company’s stock valued at $610,000 after purchasing an additional 4,655 shares during the period. Principal Financial Group Inc. boosted its stake in Lumentum by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 484,914 shares of the technology company’s stock valued at $30,937,000 after purchasing an additional 14,013 shares during the period. Summit Trail Advisors LLC boosted its stake in Lumentum by 4,901.2% in the 1st quarter. Summit Trail Advisors LLC now owns 161,989 shares of the technology company’s stock valued at $162,000 after purchasing an additional 158,750 shares during the period. Finally, Navellier & Associates Inc bought a new stake in Lumentum in the 1st quarter valued at $1,853,000.

About Lumentum

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

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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