Lumentum (LITE) Scheduled to Post Quarterly Earnings on Wednesday

Lumentum (NASDAQ:LITE) is set to issue its quarterly earnings data after the market closes on Wednesday, August 14th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Persons interested in registering for the company’s earnings conference call can do so using this link.

Lumentum Stock Performance

Shares of NASDAQ:LITE opened at $44.94 on Tuesday. The company’s 50 day simple moving average is $50.20 and its 200 day simple moving average is $48.33. The company has a debt-to-equity ratio of 2.13, a current ratio of 5.20 and a quick ratio of 3.87. Lumentum has a 1 year low of $35.35 and a 1 year high of $60.99. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of -8.56, a price-to-earnings-growth ratio of 39.11 and a beta of 0.88.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Susquehanna upped their price objective on Lumentum from $60.00 to $70.00 and gave the stock a “positive” rating in a research report on Wednesday, July 17th. StockNews.com upgraded shares of Lumentum to a “sell” rating in a research note on Monday, May 6th. B. Riley decreased their price target on shares of Lumentum from $41.00 to $40.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. Barclays dropped their price objective on shares of Lumentum from $40.00 to $38.00 and set an “underweight” rating for the company in a research note on Tuesday, May 7th. Finally, Needham & Company LLC decreased their target price on shares of Lumentum from $60.00 to $55.00 and set a “buy” rating on the stock in a research note on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $53.75.

About Lumentum

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 (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.