Wall Street analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce $1.02 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for Lumentum’s earnings, with estimates ranging from $1.00 to $1.05. Lumentum posted earnings of $0.43 per share during the same quarter last year, which would suggest a positive year over year growth rate of 137.2%. The company is expected to announce its next earnings report on Wednesday, November 7th.

According to Zacks, analysts expect that Lumentum will report full year earnings of $4.44 per share for the current fiscal year, with EPS estimates ranging from $4.12 to $4.95. For the next financial year, analysts anticipate that the business will post earnings of $4.85 per share, with EPS estimates ranging from $4.00 to $5.43. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Lumentum.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Wednesday, August 8th. The technology company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.30. The business had revenue of $301.10 million during the quarter, compared to the consensus estimate of $288.56 million. Lumentum had a return on equity of 25.10% and a net margin of 19.86%. The firm’s revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.39 earnings per share.

A number of equities research analysts recently commented on LITE shares. Loop Capital dropped their price objective on Lumentum to $73.00 and set a “buy” rating for the company in a report on Tuesday, August 7th. TheStreet downgraded Lumentum from a “b+” rating to a “c” rating in a report on Friday, May 4th. Zacks Investment Research upgraded Lumentum from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a report on Friday, May 4th. JPMorgan Chase & Co. started coverage on Lumentum in a report on Thursday, May 3rd. They issued a “neutral” rating and a $74.00 price objective for the company. Finally, DA Davidson upped their price objective on Lumentum from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, August 9th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $79.70.

In related news, SVP Judy G. Hamel sold 2,495 shares of the stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $63.21, for a total transaction of $157,708.95. Following the completion of the transaction, the senior vice president now directly owns 34,138 shares in the company, valued at $2,157,862.98. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Christopher W. Coldren sold 3,416 shares of the stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $64.36, for a total value of $219,853.76. The disclosure for this sale can be found here. Insiders sold 10,690 shares of company stock valued at $670,238 over the last 90 days. Corporate insiders own 0.76% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Hood River Capital Management LLC boosted its position in Lumentum by 8.2% during the second quarter. Hood River Capital Management LLC now owns 1,074,020 shares of the technology company’s stock valued at $62,186,000 after purchasing an additional 81,102 shares during the last quarter. Victory Capital Management Inc. boosted its position in Lumentum by 2.8% during the second quarter. Victory Capital Management Inc. now owns 954,342 shares of the technology company’s stock valued at $55,256,000 after purchasing an additional 25,894 shares during the last quarter. Maplelane Capital LLC boosted its position in Lumentum by 389.5% during the first quarter. Maplelane Capital LLC now owns 868,532 shares of the technology company’s stock valued at $55,412,000 after purchasing an additional 1,168,531 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Lumentum by 12.0% during the second quarter. Dimensional Fund Advisors LP now owns 815,006 shares of the technology company’s stock valued at $47,187,000 after purchasing an additional 87,284 shares during the last quarter. Finally, Nan Shan Life Insurance Co. Ltd. acquired a new position in Lumentum during the second quarter valued at approximately $46,320,000.

NASDAQ LITE traded down $0.50 on Friday, reaching $67.90. The company had a trading volume of 163,223 shares, compared to its average volume of 1,899,743. The company has a market capitalization of $4.27 billion, a PE ratio of 21.22, a P/E/G ratio of 1.03 and a beta of -0.06. The company has a current ratio of 5.27, a quick ratio of 4.55 and a debt-to-equity ratio of 0.36. Lumentum has a 52 week low of $41.95 and a 52 week high of $74.40.

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. It 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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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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