Lumentum (NASDAQ:LITE) Releases Q4 Earnings Guidance

Lumentum (NASDAQ:LITE – Get Rating) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $1.25-1.40 for the period, compared to the Thomson Reuters consensus estimate of $1.22. The company issued revenue guidance of $405-430 million, compared to the consensus revenue estimate of $406.18 million.

A number of research analysts have commented on the company. B. Riley reaffirmed a buy rating on shares of Lumentum in a report on Tuesday, February 1st. Northland Securities increased their target price on Lumentum from $110.00 to $120.00 and gave the stock an outperform rating in a report on Wednesday, March 9th. Zacks Investment Research cut Lumentum from a buy rating to a hold rating in a research report on Wednesday, April 20th. Rosenblatt Securities increased their price target on Lumentum from $115.00 to $125.00 and gave the stock a buy rating in a research report on Wednesday, March 23rd. Finally, JPMorgan Chase & Co. upgraded Lumentum from a neutral rating to an overweight rating and set a $110.00 price target on the stock in a research report on Wednesday, January 26th. Four equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and an average target price of $106.88.

LITE opened at $82.14 on Wednesday. Lumentum has a one year low of $65.67 and a one year high of $108.90. The company has a quick ratio of 3.55, a current ratio of 3.87 and a debt-to-equity ratio of 0.40. The stock has a fifty day moving average price of $91.37. The company has a market cap of $5.93 billion, a P/E ratio of 16.56 and a beta of 0.91.

Lumentum (NASDAQ:LITE – Get Rating) last posted its quarterly earnings data on Thursday, February 3rd. The technology company reported $1.28 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.28. Lumentum had a return on equity of 17.82% and a net margin of 22.57%. The company had revenue of $446.70 million for the quarter, compared to the consensus estimate of $444.72 million. During the same quarter in the previous year, the business earned $1.68 EPS. The company’s quarterly revenue was down 6.7% compared to the same quarter last year. Research analysts expect that Lumentum will post 4.41 earnings per share for the current fiscal year.

In related news, CEO Alan S. Lowe sold 8,809 shares of Lumentum stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $100.80, for a total value of $887,947.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Wajid Ali sold 7,854 shares of Lumentum stock in a transaction on Thursday, February 17th. The stock was sold at an average price of $100.82, for a total value of $791,840.28. The disclosure for this sale can be found here. Insiders sold a total of 18,965 shares of company stock worth $1,912,911 over the last 90 days. Insiders own 0.30% of the company’s stock.

A number of large investors have recently bought and sold shares of LITE. NEXT Financial Group Inc grew its stake in Lumentum by 191.9% in the fourth quarter. NEXT Financial Group Inc now owns 1,480 shares of the technology company’s stock valued at $157,000 after purchasing an additional 973 shares in the last quarter. Toroso Investments LLC purchased a new position in Lumentum in the fourth quarter valued at about $242,000. Vident Investment Advisory LLC grew its stake in Lumentum by 55.1% in the fourth quarter. Vident Investment Advisory LLC now owns 3,899 shares of the technology company’s stock valued at $412,000 after purchasing an additional 1,385 shares in the last quarter. NewEdge Advisors LLC purchased a new position in Lumentum in the fourth quarter valued at about $542,000. Finally, Silvercrest Asset Management Group LLC grew its stake in Lumentum by 61.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 9,541 shares of the technology company’s stock valued at $1,009,000 after purchasing an additional 3,629 shares in the last quarter. 92.49% of the stock is currently owned by hedge funds and other institutional investors.

About Lumentum (Get Rating)

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 in 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.

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