Lumentum Holdings Inc. (NASDAQ:LITE) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Lumentum Holdings in a research note issued to investors on Wednesday. Jefferies Group analyst G. Notter forecasts that the technology company will earn $0.42 per share for the quarter. Jefferies Group has a “Buy” rating and a $75.00 price objective on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q2 2018 earnings at $0.81 EPS, Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $1.27 EPS, FY2018 earnings at $3.19 EPS, Q1 2019 earnings at $1.43 EPS and Q2 2019 earnings at $1.21 EPS.
A number of other research analysts have also recently issued reports on the stock. Zacks Investment Research raised shares of Lumentum Holdings from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Friday. Barclays PLC lifted their price target on shares of Lumentum Holdings from $59.00 to $65.00 and gave the company an “equal weight” rating in a research report on Thursday. MKM Partners lifted their price target on shares of Lumentum Holdings to $71.00 and gave the company a “neutral” rating in a research report on Thursday. DA Davidson lifted their price target on shares of Lumentum Holdings from $82.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday. Finally, Craig Hallum reissued a “buy” rating and set a $85.00 price target (up from $75.00) on shares of Lumentum Holdings in a research report on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.06.
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Shares of Lumentum Holdings (NASDAQ:LITE) traded down $0.70 during midday trading on Monday, reaching $58.60. 129,299 shares of the company were exchanged, compared to its average volume of 1,990,000. Lumentum Holdings has a one year low of $34.15 and a one year high of $68.63. The stock has a market cap of $3,670.00 and a PE ratio of 41.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.38 and a current ratio of 5.21.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.18. Lumentum Holdings had a negative net margin of 9.32% and a positive return on equity of 15.99%. The company had revenue of $222.70 million during the quarter, compared to analysts’ expectations of $229.45 million. During the same period last year, the company posted $0.41 EPS. Lumentum Holdings’s revenue was down 7.9% on a year-over-year basis.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its holdings in shares of Lumentum Holdings by 0.4% during the second quarter. Suntrust Banks Inc. now owns 9,468 shares of the technology company’s stock valued at $539,000 after purchasing an additional 37 shares during the last quarter. LS Investment Advisors LLC raised its holdings in shares of Lumentum Holdings by 2.1% during the second quarter. LS Investment Advisors LLC now owns 3,569 shares of the technology company’s stock valued at $204,000 after purchasing an additional 75 shares during the last quarter. Arizona State Retirement System raised its holdings in shares of Lumentum Holdings by 0.7% during the second quarter. Arizona State Retirement System now owns 29,060 shares of the technology company’s stock valued at $1,658,000 after purchasing an additional 200 shares during the last quarter. Stifel Financial Corp raised its holdings in shares of Lumentum Holdings by 6.6% during the second quarter. Stifel Financial Corp now owns 7,271 shares of the technology company’s stock valued at $415,000 after purchasing an additional 447 shares during the last quarter. Finally, Texas Permanent School Fund raised its holdings in shares of Lumentum Holdings by 1.2% during the second quarter. Texas Permanent School Fund now owns 40,628 shares of the technology company’s stock valued at $2,318,000 after purchasing an additional 468 shares during the last quarter. 95.69% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Penny Herscher sold 1,313 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $53.04, for a total transaction of $69,641.52. Following the completion of the transaction, the director now directly owns 26,464 shares of the company’s stock, valued at $1,403,650.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan S. Lowe sold 4,364 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $54.59, for a total transaction of $238,230.76. The disclosure for this sale can be found here. Insiders have sold 87,269 shares of company stock valued at $4,602,526 over the last three months. 0.76% of the stock is owned by corporate insiders.
About Lumentum Holdings
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).
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