Equities research analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce $1.02 earnings per share for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Lumentum’s earnings, with the highest EPS estimate coming in at $1.05 and the lowest estimate coming in at $1.00. Lumentum posted earnings per share of $0.43 in the same quarter last year, which would suggest a positive year-over-year growth rate of 137.2%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 1st.
According to Zacks, analysts expect that Lumentum will report full year earnings of $4.44 per share for the current year, with EPS estimates ranging from $4.12 to $4.95. For the next year, analysts forecast that the business will post earnings of $4.85 per share, with EPS estimates ranging from $4.00 to $5.43. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Lumentum.
Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.65 by $0.30. Lumentum had a return on equity of 25.10% and a net margin of 19.86%. The company had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $288.56 million. During the same period last year, the firm posted $0.39 earnings per share. Lumentum’s revenue was up 35.2% compared to the same quarter last year.
A number of research analysts have weighed in on LITE shares. Loop Capital lowered their target price on Lumentum to $73.00 and set a “buy” rating on the stock in a report on Tuesday, August 7th. JPMorgan Chase & Co. set a $80.00 price objective on Lumentum and gave the stock a “hold” rating in a research note on Tuesday, September 4th. ValuEngine downgraded Lumentum from a “hold” rating to a “sell” rating in a research note on Friday, July 20th. DA Davidson raised their price objective 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 raised Lumentum from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, August 28th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $79.95.
LITE stock opened at $62.22 on Tuesday. Lumentum has a fifty-two week low of $41.95 and a fifty-two week high of $74.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.55 and a current ratio of 5.27. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 0.95 and a beta of 0.18.
In related news, Director Penny Herscher sold 1,313 shares of Lumentum stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $58.85, for a total transaction of $77,270.05. Following the sale, the director now owns 18,910 shares of the company’s stock, valued at approximately $1,112,853.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Judy G. Hamel sold 2,495 shares of Lumentum stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $63.21, for a total value of $157,708.95. Following the sale, the senior vice president now directly owns 34,138 shares in the company, valued at approximately $2,157,862.98. The disclosure for this sale can be found here. Insiders have sold a total of 9,224 shares of company stock worth $584,653 in the last three months. 0.55% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Hood River Capital Management LLC raised its stake in Lumentum by 8.2% during the 2nd quarter. Hood River Capital Management LLC now owns 1,074,020 shares of the technology company’s stock valued at $62,186,000 after purchasing an additional 81,102 shares during the period. Northern Trust Corp raised its stake in Lumentum by 24.4% during the 2nd quarter. Northern Trust Corp now owns 976,037 shares of the technology company’s stock valued at $56,514,000 after purchasing an additional 191,336 shares during the period. Victory Capital Management Inc. grew its holdings in Lumentum by 2.8% during the 2nd quarter. Victory Capital Management Inc. now owns 954,342 shares of the technology company’s stock valued at $55,256,000 after buying an additional 25,894 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Lumentum by 12.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 815,006 shares of the technology company’s stock valued at $47,187,000 after buying an additional 87,284 shares in the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. purchased a new position in Lumentum during the 2nd quarter valued at approximately $46,320,000.
Lumentum Company Profile
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 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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