Lumentum (LITE) to Release Earnings on Thursday

Lumentum (NASDAQ:LITE) will likely be issuing its quarterly earnings data after the market closes on Thursday, February 13th. Analysts expect the company to announce earnings of $0.27 per share and revenue of $379.99 million for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.13 by ($0.48). Lumentum had a negative net margin of 40.70% and a negative return on equity of 6.79%. The business had revenue of $336.90 million during the quarter, compared to analyst estimates of $326.94 million. During the same quarter last year, the company posted ($0.10) earnings per share. On average, analysts expect Lumentum to post $0 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Lumentum Trading Up 3.3 %

Shares of Lumentum stock opened at $89.19 on Thursday. Lumentum has a 12-month low of $38.28 and a 12-month high of $104.00. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -10.77 and a beta of 0.94. The company has a quick ratio of 4.04, a current ratio of 5.36 and a debt-to-equity ratio of 2.87. The firm’s 50-day moving average price is $87.52 and its two-hundred day moving average price is $71.12.

Insiders Place Their Bets

In other news, CFO Wajid Ali sold 29,887 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $85.06, for a total value of $2,542,188.22. Following the completion of the sale, the chief financial officer now directly owns 56,492 shares in the company, valued at $4,805,209.52. This trade represents a 34.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Vincent Retort sold 41,710 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $89.52, for a total value of $3,733,879.20. Following the completion of the sale, the insider now directly owns 147,515 shares of the company’s stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,797 shares of company stock worth $8,881,428. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on LITE shares. Rosenblatt Securities raised their price objective on Lumentum from $69.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 8th. Susquehanna boosted their price target on Lumentum from $80.00 to $115.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Morgan Stanley dropped their price objective on shares of Lumentum from $83.00 to $81.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Needham & Company LLC reissued a “buy” rating and set a $110.00 target price on shares of Lumentum in a report on Thursday, January 9th. Finally, Raymond James upped their price target on shares of Lumentum from $70.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.77.

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 (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.