Lumentum Holdings Inc. (NASDAQ:LITE) – Analysts at Jefferies Group lifted their Q3 2017 earnings per share (EPS) estimates for shares of Lumentum Holdings in a report issued on Monday. Jefferies Group analyst J. Kisner now anticipates that the firm will earn $0.36 per share for the quarter, up from their previous estimate of $0.33. Jefferies Group currently has a “Buy” rating and a $51.50 target price on the stock.
Several other equities research analysts have also commented on LITE. B. Riley reaffirmed a “buy” rating and issued a $41.50 price target on shares of Lumentum Holdings in a report on Monday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price target on shares of Lumentum Holdings in a report on Wednesday, June 15th. Zacks Investment Research raised shares of Lumentum Holdings from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 6th. Stifel Nicolaus upped their price target on shares of Lumentum Holdings from $31.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of Lumentum Holdings in a research note on Monday, August 8th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $38.54.
Shares of Lumentum Holdings (NASDAQ:LITE) traded up 0.99% during midday trading on Tuesday, reaching $41.86. The company’s stock had a trading volume of 265,079 shares. The stock’s market capitalization is $2.52 billion. The company has a 50 day moving average price of $37.19 and a 200-day moving average price of $28.79. Lumentum Holdings has a 52 week low of $13.97 and a 52 week high of $42.35.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Lumentum Holdings had a return on equity of 11.91% and a net margin of 1.01%. The company had revenue of $241.70 million for the quarter, compared to analysts’ expectations of $238.52 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 15.7% on a year-over-year basis.
A number of hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP acquired a new stake in Lumentum Holdings during the first quarter worth approximately $9,856,000. Nicholas Investment Partners LP acquired a new stake in Lumentum Holdings during the first quarter worth approximately $3,810,000. UBS Asset Management Americas Inc. increased its stake in Lumentum Holdings by 237.9% in the first quarter. UBS Asset Management Americas Inc. now owns 134,840 shares of the company’s stock worth $3,637,000 after buying an additional 94,936 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Lumentum Holdings during the first quarter worth approximately $967,000. Finally, Miles Capital Inc. acquired a new stake in Lumentum Holdings during the first quarter worth approximately $278,000. Institutional investors own 74.97% of the company’s stock.
In other Lumentum Holdings news, COO Vincent Retort sold 4,643 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $41.84, for a total value of $194,263.12. Following the completion of the sale, the chief operating officer now owns 69,170 shares in the company, valued at approximately $2,894,072.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alan S. Lowe sold 174,222 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $34.03, for a total transaction of $5,928,774.66. Following the completion of the sale, the chief executive officer now owns 38,880 shares of the company’s stock, valued at approximately $1,323,086.40. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.
Lumentum Holdings Company Profile
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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