Equities research analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce sales of $448.63 million for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Lumentum’s earnings. The highest sales estimate is $451.90 million and the lowest is $445.00 million. Lumentum reported sales of $354.10 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.7%. The business is scheduled to issue its next quarterly earnings report on Thursday, November 7th.
According to Zacks, analysts expect that Lumentum will report full-year sales of $1.72 billion for the current financial year, with estimates ranging from $1.57 billion to $1.80 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.95 billion, with estimates ranging from $1.85 billion to $2.12 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Lumentum.
Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.21. Lumentum had a negative net margin of 2.33% and a positive return on equity of 18.19%. The firm had revenue of $404.60 million for the quarter, compared to analysts’ expectations of $383.54 million. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue for the quarter was up 34.4% on a year-over-year basis.
Shares of Lumentum stock traded up $1.71 during midday trading on Wednesday, hitting $60.32. The company had a trading volume of 1,242,697 shares, compared to its average volume of 1,623,428. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.09 and a beta of 1.36. The company has a quick ratio of 3.76, a current ratio of 4.53 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $55.83 and a 200 day simple moving average of $52.72. Lumentum has a 12-month low of $37.00 and a 12-month high of $69.95.
In other Lumentum news, SVP Judy G. Hamel sold 803 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $60.00, for a total value of $48,180.00. Following the completion of the sale, the senior vice president now owns 42,510 shares of the company’s stock, valued at $2,550,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Matthew Joseph Sepe sold 4,811 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $59.88, for a total value of $288,082.68. Following the completion of the sale, the insider now directly owns 17,747 shares of the company’s stock, valued at approximately $1,062,690.36. The disclosure for this sale can be found here. Insiders own 0.55% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bridge City Capital LLC grew its position in Lumentum by 0.5% during the 2nd quarter. Bridge City Capital LLC now owns 50,443 shares of the technology company’s stock worth $2,694,000 after acquiring an additional 243 shares during the last quarter. Magnus Financial Group LLC raised its stake in Lumentum by 4.5% during the 1st quarter. Magnus Financial Group LLC now owns 6,356 shares of the technology company’s stock worth $359,000 after buying an additional 274 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Lumentum by 0.3% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 86,808 shares of the technology company’s stock worth $4,636,000 after buying an additional 280 shares during the period. Hayden Royal LLC raised its stake in Lumentum by 8.0% during the 2nd quarter. Hayden Royal LLC now owns 4,050 shares of the technology company’s stock worth $215,000 after buying an additional 300 shares during the period. Finally, Penserra Capital Management LLC increased its holdings in Lumentum by 3.0% during the 1st quarter. Penserra Capital Management LLC now owns 11,374 shares of the technology company’s stock worth $703,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 94.74% of the company’s stock.
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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