Lumentum Holdings Inc (NASDAQ:LITE) – B. Riley cut their Q3 2018 earnings estimates for Lumentum in a research report issued on Wednesday. B. Riley analyst D. Kang now anticipates that the technology company will post earnings of $0.56 per share for the quarter, down from their previous forecast of $0.83. B. Riley has a “Buy” rating and a $85.00 price objective on the stock. B. Riley also issued estimates for Lumentum’s Q4 2018 earnings at $0.45 EPS, FY2018 earnings at $2.75 EPS, Q1 2019 earnings at $0.79 EPS, Q2 2019 earnings at $1.73 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.70 EPS and FY2019 earnings at $4.09 EPS.

LITE has been the topic of several other research reports. TheStreet upgraded shares of Lumentum from a “c” rating to a “b-” rating in a research note on Wednesday, February 7th. Rosenblatt Securities set a $75.00 price target on shares of Lumentum and gave the stock a “buy” rating in a research note on Tuesday, October 24th. DA Davidson lifted their price target on shares of Lumentum from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, November 2nd. Craig Hallum reiterated a “buy” rating and set a $85.00 price target (up previously from $75.00) on shares of Lumentum in a research note on Wednesday, November 1st. Finally, Jefferies Group reissued a “buy” rating and set a $75.00 price objective on shares of Lumentum in a report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $72.31.

Shares of Lumentum (NASDAQ LITE) traded down $0.30 during mid-day trading on Monday, reaching $56.90. The company’s stock had a trading volume of 1,967,600 shares, compared to its average volume of 2,798,226. Lumentum has a one year low of $40.35 and a one year high of $68.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.16 and a current ratio of 4.84. The firm has a market capitalization of $3,569.28, a P/E ratio of 38.97, a PEG ratio of 1.02 and a beta of 0.56.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, February 6th. The technology company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.67. Lumentum had a net margin of 8.97% and a return on equity of 24.06%. The firm had revenue of $404.60 million for the quarter, compared to analyst estimates of $357.03 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 52.7% on a year-over-year basis.

A number of hedge funds have recently made changes to their positions in LITE. Bank of New York Mellon Corp increased its position in Lumentum by 58.0% in the fourth quarter. Bank of New York Mellon Corp now owns 4,005,797 shares of the technology company’s stock worth $195,883,000 after purchasing an additional 1,470,587 shares during the period. Eagle Asset Management Inc. acquired a new position in shares of Lumentum during the 4th quarter worth about $40,918,000. Whale Rock Capital Management LLC grew its position in shares of Lumentum by 86.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 1,590,359 shares of the technology company’s stock worth $86,436,000 after buying an additional 735,239 shares during the period. Carillon Tower Advisers Inc. acquired a new position in shares of Lumentum during the 4th quarter worth about $29,089,000. Finally, Artemis Investment Management LLP grew its position in shares of Lumentum by 676.1% during the 3rd quarter. Artemis Investment Management LLP now owns 672,022 shares of the technology company’s stock worth $36,541,000 after buying an additional 585,432 shares during the period.

In related news, Director Penny Herscher sold 822 shares of Lumentum stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $50.61, for a total value of $41,601.42. Following the completion of the transaction, the director now directly owns 34,793 shares of the company’s stock, valued at $1,760,873.73. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Martin A. Kaplan sold 3,000 shares of Lumentum stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $55.03, for a total value of $165,090.00. Following the completion of the sale, the director now owns 26,573 shares of the company’s stock, valued at $1,462,312.19. The disclosure for this sale can be found here. Insiders sold 16,643 shares of company stock valued at $950,504 over the last ninety days. 0.76% of the stock is currently owned by company insiders.

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About Lumentum

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).

Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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