Lumentum (NASDAQ:LITE) Releases Q4 2024 Earnings Guidance

Lumentum (NASDAQ:LITE) updated its fourth quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.050-0.100 for the period, compared to the consensus estimate of 0.140. The company issued revenue guidance of $290.0 million-$315.0 million, compared to the consensus revenue estimate of $331.4 million. Lumentum also updated its Q4 guidance to ($0.05)-$0.10 EPS.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on LITE. Barclays lifted their price objective on shares of Lumentum from $40.00 to $45.00 and gave the company an underweight rating in a research note on Tuesday, January 16th. Raymond James lifted their price objective on shares of Lumentum from $51.50 to $58.00 and gave the company an outperform rating in a research note on Monday, April 1st. Rosenblatt Securities lifted their price objective on shares of Lumentum from $60.00 to $65.00 and gave the company a buy rating in a research note on Friday, February 9th. B. Riley reduced their price target on shares of Lumentum from $42.00 to $41.00 and set a neutral rating for the company in a research report on Friday, February 9th. Finally, Needham & Company LLC restated a buy rating and set a $50.00 price target on shares of Lumentum in a research report on Friday, February 9th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and an average target price of $52.69.

Lumentum Stock Down 1.4 %

LITE traded down $0.63 during midday trading on Monday, reaching $44.11. The company’s stock had a trading volume of 3,288,656 shares, compared to its average volume of 1,411,133. The stock’s 50-day moving average is $46.32 and its 200-day moving average is $47.18. Lumentum has a 1 year low of $35.35 and a 1 year high of $65.16. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -11.20 and a beta of 1.09.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.07). Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. The firm had revenue of $366.80 million for the quarter, compared to analysts’ expectations of $363.44 million. As a group, research analysts expect that Lumentum will post -0.64 EPS for the current year.

Insider Activity

In related news, CAO Matthew Joseph Sepe sold 9,903 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $49.23, for a total transaction of $487,524.69. Following the transaction, the chief accounting officer now owns 33,188 shares in the company, valued at $1,633,845.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Lumentum Company Profile

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.