Lumentum Holdings (LITE) Earns Daily Media Sentiment Rating of 0.09

For the next fiscal year, analysts anticipate that the business will report sales of $1.2 billion per share, with estimates ranging from $1.16 billion to $1.27 billion. Lumentum had 33 analyst reports since August 4, 2015 according to SRatingsIntel.

News articles about Lumentum Holdings (NASDAQ:LITE) have trended somewhat positive this week, according to Alpha One. This leaves us with a quarter on quarter earnings per share growth of 321.40%.

Lumentum Holdings Inc (NASDAQ:LITE) posted its earnings results on Thursday. The technology company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.12. The business earned $255.80 million during the quarter, compared to the consensus estimate of $257.22 million. The company's quarterly revenue was up 11.0% compared to the same quarter previous year. During the same period in the prior year, the firm earned $0.32 earnings per share. The same analysts are predicting that the company shares will trade to $50.13 within the next 12-18 months. The bumped up target suggests a potential upside of 0.02% from the company's last stock close price. Northland Securities cut Lumentum Holdings from an outperform rating to a market perform rating in a research report on Thursday.

Amid volatile financial markets and the presidential election, various investment brokerages have made amendments to their price targets and ratings on shares of Lumentum (NASDAQ:LITE). Goldman Sachs Group Inc raised shares of Lumentum Holdings from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $38.00 to $45.00 in a report on Thursday, March 16th. (LITE), 6 have Buy rating, 2 Sell and 2 Hold.

They hope that the stock price will fall or that the company will fail and go bankrupt, leading the equity holders to ruin. The firm has a market cap of $2.85 billion, a price-to-earnings ratio of 197.48 and a beta of 0.73.

As the earnings date approaches, we can see that insider ownership is now 0.70% shares, and institutional ownership is at 92.40% for Lumentum Holdings Inc.

Stock is now moving with a positive distance from the 200 day simple moving average of approximately 6.02%, and has a solid year to date (YTD) performance of 10.61% which means the stock is constantly adding to its value from the previous fiscal year end price.

In other Lumentum Holdings news, CEO Alan S. Lowe sold 7,956 shares of the firm's stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $48.75, for a total value of $88,432.50. Following the completion of the transaction, the chief operating officer now directly owns 66,444 shares in the company, valued at $3,461,732.40. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Vincent Retort sold 809 shares of the firm's stock in a transaction that occurred on Wednesday, February 22nd. The shares were sold at an average price of $52.10, for a total transaction of $42,148.90. The disclosure for this sale can be found here.

The stock exchanged hands 7.73M shares versus average trading capacity of 1.82M shares, while its shares' total market worth is $2.86B along with 60.96M outstanding shares. The stock rose 4.90% or $0.25 reaching $5.35. The third largest holder is Blackrock Fund Advisors, which now holds $182.94 million worth of this stock and that ownership represents almost 6.85% of its market capitalization. Creative Planning raised its position in Lumentum Holdings by 15.1% in the first quarter. Louisiana State Employees Retirement System now owns 24,120 shares of the technology company's stock valued at $1,007,000 after buying an additional 3,100 shares during the period. Sawgrass Asset Management LLC boosted its stake in shares of Lumentum Holdings by 32.7% in the third quarter. Finally, Brown Advisory Inc. increased its stake in Lumentum Holdings by 36.1% in the fourth quarter.

  • Carolyn Briggs