Lumentum (LITE) Scheduled to Post Quarterly Earnings on Monday

Lumentum (NASDAQ:LITE) is scheduled to post its quarterly earnings results after the market closes on Monday, May 6th. Analysts expect Lumentum to post earnings of $0.26 per share for the quarter. Lumentum has set its Q3 guidance at $0.25-$0.35 EPS and its Q3 2024 guidance at 0.200-0.350 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The company had revenue of $366.80 million for the quarter, compared to analyst estimates of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. On average, analysts expect Lumentum to post $-1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $44.74 on Friday. The company has a debt-to-equity ratio of 1.96, a quick ratio of 2.42 and a current ratio of 3.13. The business’s fifty day moving average price is $46.32 and its two-hundred day moving average price is $47.13. The stock has a market cap of $3.02 billion, a PE ratio of -11.36 and a beta of 1.09. Lumentum has a one year low of $35.35 and a one year high of $65.16.

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 completion of the sale, the chief accounting officer now owns 33,188 shares of the company’s stock, valued at approximately $1,633,845.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on LITE shares. Raymond James increased their price objective on Lumentum from $51.50 to $58.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Susquehanna cut their price objective on shares of Lumentum from $65.00 to $60.00 and set a “positive” rating for the company in a research report on Friday, February 9th. Barclays raised their target price on shares of Lumentum from $40.00 to $45.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. Rosenblatt Securities boosted their price target on Lumentum from $60.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 9th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $62.00 price target on shares of Lumentum in a research note on Monday, April 1st. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $52.69.

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.