Q1 2017 EPS Estimates for Lumentum Holdings Inc. Lowered by Jefferies Group (LITE)
Lumentum Holdings Inc. (NASDAQ:LITE) – Jefferies Group decreased their Q1 2017 EPS estimates for Lumentum Holdings in a report issued on Monday. Jefferies Group analyst J. Kisner now anticipates that the firm will post earnings per share of $0.33 for the quarter, down from their prior forecast of $0.34. Jefferies Group has a “Buy” rating and a $51.50 price objective on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q2 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.58 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.13 EPS.
A number of other research firms also recently commented on LITE. MKM Partners boosted their target price on Lumentum Holdings from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, September 26th. B. Riley reiterated a “buy” rating and issued a $41.50 target price on shares of Lumentum Holdings in a research report on Wednesday, August 10th. Zacks Investment Research upgraded Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research report on Tuesday, August 16th. Stifel Nicolaus boosted their target price on Lumentum Holdings from $31.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $38.00 target price on shares of Lumentum Holdings in a research report on Wednesday, September 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Lumentum Holdings has a consensus rating of “Buy” and an average target price of $38.54.
Lumentum Holdings (NASDAQ:LITE) traded up 3.51% on Wednesday, hitting $43.60. The stock had a trading volume of 526,598 shares. Lumentum Holdings has a 1-year low of $13.97 and a 1-year high of $43.76. The stock’s 50-day moving average is $37.46 and its 200 day moving average is $28.90. The firm’s market capitalization is $2.62 billion.
Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Tuesday, August 9th. The company reported $0.41 EPS for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. The company earned $241.70 million during the quarter, compared to analysts’ expectations of $238.52 million. Lumentum Holdings had a return on equity of 11.91% and a net margin of 1.01%. The firm’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Mason Street Advisors LLC purchased a new position in shares of Lumentum Holdings during the second quarter valued at about $224,000. Wolverine Asset Management LLC purchased a new position in shares of Lumentum Holdings during the second quarter valued at about $605,000. Schwab Charles Investment Management Inc. boosted its position in shares of Lumentum Holdings by 96.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 189,881 shares of the company’s stock valued at $4,596,000 after buying an additional 92,984 shares during the period. Stifel Financial Corp purchased a new position in shares of Lumentum Holdings during the second quarter valued at about $312,000. Finally, American Century Companies Inc. purchased a new position in shares of Lumentum Holdings during the second quarter valued at about $354,000. 74.97% of the stock is currently owned by institutional investors.
In related news, CEO Alan S. Lowe sold 4,351 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $41.82, for a total value of $181,958.82. Following the transaction, the chief executive officer now owns 151,220 shares of the company’s stock, valued at $6,324,020.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Vincent Retort sold 4,643 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $41.84, for a total value of $194,263.12. Following the completion of the transaction, the chief operating officer now directly owns 69,170 shares in the company, valued at approximately $2,894,072.80. The disclosure for this sale can be found here. Insiders own 0.76% of the company’s stock.
Lumentum Holdings Company Profile
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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