Equities analysts expect that Lumentum Holdings Inc (NASDAQ:LITE) will announce sales of $453.23 million for the current quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Lumentum’s earnings. The lowest sales estimate is $451.20 million and the highest is $456.58 million. Lumentum posted sales of $373.70 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 21.3%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, February 4th.
According to Zacks, analysts expect that Lumentum will report full year sales of $1.74 billion for the current fiscal year, with estimates ranging from $1.72 billion to $1.77 billion. For the next fiscal year, analysts anticipate that the company will report sales of $1.95 billion, with estimates ranging from $1.85 billion to $2.01 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Lumentum.
Lumentum (NASDAQ:LITE) last posted its earnings results on Thursday, October 31st. The technology company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.20 by $0.24. Lumentum had a negative net margin of 2.18% and a positive return on equity of 17.81%. The firm had revenue of $449.90 million for the quarter, compared to the consensus estimate of $448.16 million. During the same period in the previous year, the firm posted $1.31 EPS. The business’s quarterly revenue was up 27.1% on a year-over-year basis.
LITE has been the topic of a number of research reports. Susquehanna Bancshares initiated coverage on shares of Lumentum in a report on Thursday, December 12th. They issued a “positive” rating and a $90.00 target price on the stock. Needham & Company LLC downgraded shares of Lumentum from a “strong-buy” rating to a “buy” rating and reduced their target price for the stock from $90.00 to $70.00 in a report on Thursday, January 2nd. BidaskClub downgraded shares of Lumentum from a “buy” rating to a “hold” rating in a report on Wednesday. Northland Securities boosted their target price on shares of Lumentum from $77.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, MKM Partners boosted their target price on shares of Lumentum from $75.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. Lumentum has an average rating of “Buy” and an average target price of $79.71.
Shares of Lumentum stock traded down $0.55 during trading hours on Monday, reaching $78.46. The company’s stock had a trading volume of 1,522,136 shares, compared to its average volume of 1,253,637. The firm has a 50 day moving average price of $77.74 and a 200-day moving average price of $63.59. Lumentum has a one year low of $40.28 and a one year high of $84.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.49 and a quick ratio of 3.85. The stock has a market cap of $6.06 billion, a P/E ratio of -124.54, a P/E/G ratio of 1.38 and a beta of 1.42.
In related news, CEO Alan S. Lowe sold 22,887 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $57.14, for a total transaction of $1,307,763.18. Following the transaction, the chief executive officer now directly owns 233,536 shares in the company, valued at approximately $13,344,247.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan S. Lowe sold 41,643 shares of the company’s stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $61.04, for a total transaction of $2,541,888.72. Following the transaction, the chief executive officer now owns 191,893 shares in the company, valued at $11,713,148.72. The disclosure for this sale can be found here. Insiders have sold a total of 157,970 shares of company stock worth $10,399,043 over the last quarter. 0.48% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Private Capital Group LLC grew its stake in Lumentum by 5,481.8% in the 2nd quarter. Private Capital Group LLC now owns 614 shares of the technology company’s stock worth $36,000 after acquiring an additional 603 shares in the last quarter. Carroll Financial Associates Inc. grew its stake in Lumentum by 466.1% in the 4th quarter. Carroll Financial Associates Inc. now owns 719 shares of the technology company’s stock worth $57,000 after acquiring an additional 592 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Lumentum by 31.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,633 shares of the technology company’s stock worth $87,000 after acquiring an additional 386 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Lumentum by 29.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,188 shares of the technology company’s stock worth $94,000 after acquiring an additional 270 shares in the last quarter. Finally, First Manhattan Co. grew its stake in Lumentum by 150.0% in the 2nd quarter. First Manhattan Co. now owns 2,500 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,500 shares in the last quarter. Institutional investors own 90.49% of the company’s stock.
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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