Q1 2018 EPS Estimates for Lumentum Holdings Inc. Increased by Jefferies Group (LITE)
Lumentum Holdings Inc. (NASDAQ:LITE) – Investment analysts at Jefferies Group raised their Q1 2018 earnings estimates for Lumentum Holdings in a note issued to investors on Monday. Jefferies Group analyst J. Kisner now forecasts that the brokerage will post earnings of $0.54 per share for the quarter, up from their prior forecast of $0.51. Jefferies Group has a “Buy” rating and a $51.50 price objective on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q2 2018 earnings at $0.62 EPS and Q3 2018 earnings at $0.41 EPS.
Lumentum Holdings (NASDAQ:LITE) last released its earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.05. Lumentum Holdings had a net margin of 1.01% and a return on equity of 11.91%. The company had revenue of $241.70 million for the quarter, compared to the consensus estimate of $238.52 million. During the same quarter in the previous year, the company earned $0.15 EPS. Lumentum Holdings’s quarterly revenue was up 15.7% compared to the same quarter last year.
A number of other research analysts have also recently commented on the stock. Needham & Company LLC upgraded shares of Lumentum Holdings from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $35.00 to $40.00 in a research report on Monday, July 25th. Zacks Investment Research upgraded shares of Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research report on Tuesday, August 16th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $38.00 price target (up from $32.00) on shares of Lumentum Holdings in a research report on Saturday, August 13th. MKM Partners increased their price target on shares of Lumentum Holdings from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, July 20th. Finally, Morgan Stanley cut shares of Lumentum Holdings from an “equal weight” rating to an “underweight” rating and increased their price target for the company from $20.00 to $27.00 in a research report on Thursday, August 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the stock. Lumentum Holdings presently has an average rating of “Buy” and an average price target of $38.54.
Lumentum Holdings (NASDAQ:LITE) traded up 0.38% on Thursday, hitting $44.65. 265,244 shares of the company were exchanged. The stock has a 50 day moving average of $38.12 and a 200 day moving average of $29.12. Lumentum Holdings has a 52 week low of $13.97 and a 52 week high of $45.25. The company’s market capitalization is $2.68 billion.
In related news, CFO Aaron Tachibana sold 6,086 shares of the firm’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $34.64, for a total value of $210,819.04. Following the completion of the sale, the chief financial officer now owns 13,239 shares of the company’s stock, valued at $458,598.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Vincent Retort sold 4,643 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now directly owns 69,170 shares of the company’s stock, valued at approximately $2,894,072.80. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund acquired a new stake in shares of Lumentum Holdings during the first quarter worth approximately $1,020,000. TIAA CREF Investment Management LLC raised its stake in shares of Lumentum Holdings by 8.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,235,362 shares of the company’s stock worth $33,318,000 after buying an additional 95,651 shares during the last quarter. Teachers Advisors Inc. raised its stake in shares of Lumentum Holdings by 11.2% in the first quarter. Teachers Advisors Inc. now owns 1,814,794 shares of the company’s stock worth $48,945,000 after buying an additional 182,114 shares during the last quarter. Prudential Financial Inc. raised its stake in shares of Lumentum Holdings by 11.6% in the first quarter. Prudential Financial Inc. now owns 119,924 shares of the company’s stock worth $3,234,000 after buying an additional 12,486 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Lumentum Holdings by 44.3% in the first quarter. JPMorgan Chase & Co. now owns 150,064 shares of the company’s stock worth $4,047,000 after buying an additional 46,065 shares during the last quarter. 74.97% of the stock is owned by institutional investors.
About Lumentum Holdings
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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