Equities analysts expect Lumentum Holdings Inc (NASDAQ:LITE) to announce earnings of $0.72 per share for the current quarter, Zacks reports. Six analysts have made estimates for Lumentum’s earnings, with the highest EPS estimate coming in at $0.74 and the lowest estimate coming in at $0.66. Lumentum reported earnings per share of $0.49 in the same quarter last year, which would suggest a positive year-over-year growth rate of 46.9%. The business is expected to issue its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Lumentum will report full-year earnings of $3.51 per share for the current year, with EPS estimates ranging from $3.45 to $3.66. For the next year, analysts anticipate that the firm will post earnings of $4.52 per share, with EPS estimates ranging from $3.61 to $5.45. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Lumentum.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $357.03 million. During the same period in the previous year, the firm posted $0.57 EPS. Lumentum’s revenue was up 52.7% compared to the same quarter last year.
Shares of Lumentum (NASDAQ LITE) opened at $59.05 on Friday. The company has a quick ratio of 4.16, a current ratio of 4.84 and a debt-to-equity ratio of 0.38. Lumentum has a twelve month low of $40.35 and a twelve month high of $68.63. The stock has a market capitalization of $3,700.00 and a PE ratio of 40.72.
In other news, CFO Aaron Tachibana sold 1,248 shares of Lumentum stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $60.00, for a total transaction of $74,880.00. Following the sale, the chief financial officer now owns 69,830 shares of the company’s stock, valued at approximately $4,189,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Jason Reinhardt sold 9,308 shares of Lumentum stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $56.82, for a total transaction of $528,880.56. Following the sale, the executive vice president now directly owns 59,635 shares in the company, valued at approximately $3,388,460.70. The disclosure for this sale can be found here. Insiders sold a total of 27,490 shares of company stock worth $1,563,148 over the last three months. Corporate insiders own 0.76% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in LITE. Virtu KCG Holdings LLC purchased a new stake in shares of Lumentum during the 2nd quarter valued at approximately $226,000. Dimensional Fund Advisors LP raised its position in shares of Lumentum by 35.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 851,937 shares of the technology company’s stock valued at $48,604,000 after buying an additional 223,643 shares during the period. Stifel Financial Corp raised its position in shares of Lumentum by 6.6% during the 2nd quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after buying an additional 447 shares during the period. State Street Corp raised its position in shares of Lumentum by 16.3% during the 2nd quarter. State Street Corp now owns 1,491,562 shares of the technology company’s stock valued at $85,095,000 after buying an additional 208,872 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Lumentum during the 2nd quarter valued at approximately $388,000.
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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