$397.09 Million in Sales Expected for Lumentum Holdings Inc (NASDAQ:LITE) This Quarter

Equities analysts expect that Lumentum Holdings Inc (NASDAQ:LITE) will announce $397.09 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have made estimates for Lumentum’s earnings, with the highest sales estimate coming in at $417.00 million and the lowest estimate coming in at $380.00 million. Lumentum reported sales of $301.10 million during the same quarter last year, which indicates a positive year over year growth rate of 31.9%. The firm is expected to report its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Lumentum will report full-year sales of $1.56 billion for the current fiscal year, with estimates ranging from $1.54 billion to $1.58 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.81 billion, with estimates ranging from $1.71 billion to $1.92 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Lumentum.

Lumentum (NASDAQ:LITE) last announced 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. The business had revenue of $433.00 million during the quarter, compared to analyst estimates of $428.33 million. Lumentum had a net margin of 1.57% and a return on equity of 19.94%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share.

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Lumentum from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $55.00 to $65.00 in a research note on Wednesday, March 27th. Zacks Investment Research raised shares of Lumentum from a “sell” rating to a “hold” rating in a research note on Saturday, June 8th. ValuEngine raised shares of Lumentum from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Barclays lowered their target price on shares of Lumentum from $60.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, June 6th. Finally, Rosenblatt Securities set a $80.00 target price on shares of Lumentum and gave the company a “buy” rating in a research note on Thursday, March 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $66.39.

In other Lumentum news, SVP Judy G. Hamel sold 1,429 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $58.64, for a total transaction of $83,796.56. Following the sale, the senior vice president now directly owns 44,793 shares of the company’s stock, valued at $2,626,661.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in LITE. Sapphire Star Partners LP acquired a new position in shares of Lumentum during the fourth quarter worth approximately $28,000. SevenBridge Financial Group LLC acquired a new position in shares of Lumentum during the fourth quarter worth approximately $39,000. Intellectus Partners LLC lifted its position in shares of Lumentum by 4,000.0% during the fourth quarter. Intellectus Partners LLC now owns 1,025 shares of the technology company’s stock worth $43,000 after purchasing an additional 1,000 shares in the last quarter. Columbia Asset Management acquired a new position in shares of Lumentum during the fourth quarter worth approximately $102,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Lumentum by 25.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,864 shares of the technology company’s stock worth $119,000 after purchasing an additional 581 shares in the last quarter. Institutional investors own 95.29% of the company’s stock.

NASDAQ LITE opened at $53.41 on Friday. The company has a market capitalization of $4.08 billion, a PE ratio of 16.48, a P/E/G ratio of 1.15 and a beta of 1.13. The company has a 50-day simple moving average of $47.63. Lumentum has a twelve month low of $37.00 and a twelve month high of $69.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 3.20 and a current ratio of 3.96.

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.

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