Lumentum (NASDAQ:LITE) Updates Q4 Earnings Guidance

Lumentum (NASDAQ:LITE) updated its fourth quarter earnings guidance on Monday. The company provided earnings per share guidance of ($0.05)-$0.10 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $290-$315 million, compared to the consensus revenue estimate of $330.86 million. Lumentum also updated its Q4 2024 guidance to -0.050-0.100 EPS.

Lumentum Stock Performance

NASDAQ LITE traded down $1.67 during trading hours on Tuesday, hitting $42.44. 2,564,185 shares of the stock were exchanged, compared to its average volume of 1,423,819. Lumentum has a 12-month low of $35.35 and a 12-month high of $65.16. The stock has a 50-day moving average of $46.22 and a 200 day moving average of $47.22. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -10.66 and a beta of 1.09. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) EPS for the quarter, missing the consensus estimate 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 business had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. As a group, equities research analysts forecast that Lumentum will post -0.64 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Needham & Company LLC reiterated a buy rating and issued a $50.00 price objective on shares of Lumentum in a research note on Friday, February 9th. Susquehanna decreased their price target on Lumentum from $65.00 to $60.00 and set a positive rating on the stock in a research note on Friday, February 9th. Rosenblatt Securities upped their price target on Lumentum from $60.00 to $65.00 and gave the stock a buy rating in a report on Friday, February 9th. StockNews.com raised Lumentum to a sell rating in a report on Monday. Finally, B. Riley lowered their target price on Lumentum from $41.00 to $40.00 and set a neutral rating on the stock in a report on Tuesday. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Lumentum currently has a consensus rating of Hold and a consensus target price of $52.08.

Insider Buying and Selling

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total value of $487,524.69. Following the completion of the transaction, the chief accounting officer now directly owns 33,188 shares in the company, valued at approximately $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.60% of the stock is owned by company insiders.

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 (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.