Analysts Anticipate Lumentum Holdings Inc (LITE) to Announce $0.71 Earnings Per Share

Analysts expect Lumentum Holdings Inc (NASDAQ:LITE) to post earnings of $0.71 per share for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for Lumentum’s earnings. The lowest EPS estimate is $0.66 and the highest is $0.74. Lumentum reported earnings of $0.49 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 44.9%. The business is scheduled to announce its next quarterly earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that Lumentum will report full-year earnings of $3.48 per share for the current financial year, with EPS estimates ranging from $3.45 to $3.55. For the next financial year, analysts expect that the firm will post earnings of $4.61 per share, with EPS estimates ranging from $4.20 to $5.45. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Lumentum.

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Lumentum (NASDAQ:LITE) last announced its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.00 by $0.67. Lumentum had a return on equity of 24.06% and a net margin of 8.97%. The firm had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $357.03 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. Lumentum’s revenue for the quarter was up 52.7% compared to the same quarter last year.

Several brokerages have issued reports on LITE. Barclays upgraded Lumentum from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $65.00 to $67.00 in a research note on Wednesday, January 10th. Loop Capital began coverage on Lumentum in a research note on Monday, January 29th. They set a “buy” rating and a $65.00 price objective on the stock. B. Riley restated a “buy” rating and set a $85.00 price objective (up previously from $81.00) on shares of Lumentum in a research note on Wednesday, January 31st. BidaskClub upgraded Lumentum from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. Finally, Northland Securities reiterated a “buy” rating and set a $82.00 price target on shares of Lumentum in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $81.00.

In related news, CFO Aaron Tachibana sold 942 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $58.52, for a total value of $55,125.84. Following the completion of the transaction, the chief financial officer now directly owns 72,304 shares of the company’s stock, valued at approximately $4,231,230.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Vincent Retort sold 12,111 shares of the stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $71.00, for a total value of $859,881.00. Following the completion of the transaction, the chief operating officer now directly owns 77,318 shares of the company’s stock, valued at $5,489,578. The disclosure for this sale can be found here. Insiders have sold a total of 62,150 shares of company stock worth $3,800,816 over the last quarter. Insiders own 0.76% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. grew its holdings in Lumentum by 3.6% in the 4th quarter. BlackRock Inc. now owns 7,756,216 shares of the technology company’s stock worth $379,279,000 after buying an additional 268,849 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Lumentum by 58.0% in the 4th quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock worth $195,883,000 after buying an additional 1,470,587 shares in the last quarter. Whale Rock Capital Management LLC grew its holdings in Lumentum by 8.6% in the 4th quarter. Whale Rock Capital Management LLC now owns 1,726,516 shares of the technology company’s stock worth $84,427,000 after buying an additional 136,157 shares in the last quarter. AXA grew its holdings in Lumentum by 48.4% in the 4th quarter. AXA now owns 1,411,087 shares of the technology company’s stock worth $69,002,000 after buying an additional 460,315 shares in the last quarter. Finally, Cramer Rosenthal Mcglynn LLC grew its holdings in Lumentum by 13.3% in the 4th quarter. Cramer Rosenthal Mcglynn LLC now owns 1,278,826 shares of the technology company’s stock worth $62,535,000 after buying an additional 150,222 shares in the last quarter.

Shares of NASDAQ LITE opened at $59.30 on Tuesday. Lumentum has a 52-week low of $40.35 and a 52-week high of $74.40. The company has a market cap of $3,638.64, a price-to-earnings ratio of 37.30, a PEG ratio of 1.13 and a beta of -0.08. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84.

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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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