FY2019 EPS Estimates for Lumentum Holdings Inc Decreased by DA Davidson (NASDAQ:LITE)

Lumentum Holdings Inc (NASDAQ:LITE) – Equities research analysts at DA Davidson decreased their FY2019 earnings estimates for Lumentum in a research note issued on Monday, May 20th, according to Zacks Investment Research. DA Davidson analyst M. Kelleher now forecasts that the technology company will earn $3.16 per share for the year, down from their previous forecast of $3.33. DA Davidson currently has a “Buy” rating and a $75.00 target price on the stock. DA Davidson also issued estimates for Lumentum’s Q4 2019 earnings at $0.56 EPS, Q1 2020 earnings at $0.82 EPS, Q2 2020 earnings at $1.12 EPS, Q3 2020 earnings at $0.61 EPS, Q4 2020 earnings at $0.68 EPS and FY2020 earnings at $3.23 EPS.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, May 7th. The technology company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.22. Lumentum had a net margin of 1.57% and a return on equity of 19.94%. The business had revenue of $433.00 million for the quarter, compared to analyst estimates of $428.33 million. During the same quarter last year, the business earned $0.78 earnings per share. The business’s revenue for the quarter was up 44.8% on a year-over-year basis.

A number of other research analysts have also commented on LITE. Zacks Investment Research upgraded shares of Lumentum from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, February 19th. BidaskClub upgraded shares of Lumentum from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 22nd. Northland Securities reiterated a “buy” rating and set a $64.00 price objective on shares of Lumentum in a research note on Wednesday, March 6th. Rosenblatt Securities set a $80.00 target price on shares of Lumentum and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Raymond James raised their target price on shares of Lumentum from $75.00 to $78.00 and gave the stock a “strong-buy” rating in a report on Thursday, March 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $67.05.

Shares of NASDAQ LITE traded down $0.83 during mid-day trading on Thursday, reaching $46.13. 758,000 shares of the company traded hands, compared to its average volume of 1,643,629. Lumentum has a fifty-two week low of $37.00 and a fifty-two week high of $69.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.96 and a quick ratio of 3.20. The firm has a market capitalization of $3.49 billion, a PE ratio of 14.24, a P/E/G ratio of 1.04 and a beta of 1.13.

In related news, SVP Judy G. Hamel sold 1,429 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $58.64, for a total value of $83,796.56. Following the completion of the transaction, the senior vice president now owns 44,793 shares of the company’s stock, valued at approximately $2,626,661.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.55% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in Lumentum by 121.7% in the 4th quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock worth $39,000 after purchasing an additional 521 shares during the period. BB&T Corp acquired a new stake in shares of Lumentum during the 4th quarter valued at $781,000. Smith Graham & Co. Investment Advisors LP boosted its stake in shares of Lumentum by 10.2% during the 1st quarter. Smith Graham & Co. Investment Advisors LP now owns 135,920 shares of the technology company’s stock valued at $7,685,000 after buying an additional 12,550 shares during the period. Amalgamated Bank boosted its stake in shares of Lumentum by 164.7% during the 4th quarter. Amalgamated Bank now owns 11,386 shares of the technology company’s stock valued at $478,000 after buying an additional 7,085 shares during the period. Finally, New York State Teachers Retirement System boosted its stake in shares of Lumentum by 10.6% during the 4th quarter. New York State Teachers Retirement System now owns 98,838 shares of the technology company’s stock valued at $4,152,000 after buying an additional 9,503 shares during the period. 95.36% of the stock is owned by hedge funds and other institutional investors.

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 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.

Further Reading: What is meant by holder of record?

Get a free copy of the Zacks research report on Lumentum (LITE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lumentum (NASDAQ:LITE)

Receive News & Ratings for Lumentum Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum and related companies with MarketBeat.com's FREE daily email newsletter.