Lumentum Holdings Inc. (NASDAQ:LITE) – Analysts at Jefferies Group lowered their Q1 2017 EPS estimates for Lumentum Holdings in a note issued to investors on Monday. Jefferies Group analyst J. Kisner now anticipates that the firm will post earnings per share of $0.33 for the quarter, down from their prior estimate of $0.34. Jefferies Group currently has a “Buy” rating and a $51.50 target price on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q2 2017 earnings at $0.42 EPS, Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.58 EPS, Q4 2018 earnings at $0.55 EPS and FY2018 earnings at $2.13 EPS.
Lumentum Holdings (NASDAQ:LITE) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.41 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $238.52 million. During the same quarter last year, the company posted $0.15 EPS. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year.
Several other equities analysts also recently commented on the company. B. Riley reiterated a “buy” rating and issued a $50.00 price objective on shares of Lumentum Holdings in a research note on Wednesday. MKM Partners upped their price objective on Lumentum Holdings from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, September 26th. Needham & Company LLC upped their price objective on Lumentum Holdings from $40.00 to $50.00 and gave the company a “strong-buy” rating in a research note on Monday, September 19th. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $38.00 price objective on shares of Lumentum Holdings in a research note on Wednesday, September 7th. Finally, Zacks Investment Research upgraded Lumentum Holdings from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective on the stock in a research note on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $38.54.
Lumentum Holdings (NASDAQ:LITE) opened at 44.48 on Wednesday. The stock has a 50 day moving average price of $38.12 and a 200 day moving average price of $29.12. The company’s market cap is $2.67 billion. Lumentum Holdings has a 52 week low of $13.97 and a 52 week high of $44.69.
In related news, COO Vincent Retort sold 1,523 shares of the stock in a transaction on Tuesday, August 23rd. The stock was sold at an average price of $33.96, for a total value of $51,721.08. Following the transaction, the chief operating officer now owns 587 shares of the company’s stock, valued at $19,934.52. 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 on Monday, August 22nd. The shares were sold at an average price of $34.03, for a total value of $5,928,774.66. Following the completion of the transaction, the chief executive officer now directly owns 38,880 shares in the company, valued at approximately $1,323,086.40. The disclosure for this sale can be found here. 0.76% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in Lumentum Holdings by 133.1% in the first quarter. Legal & General Group Plc now owns 4,109 shares of the company’s stock worth $111,000 after buying an additional 2,346 shares in the last quarter. PineBridge Investments L.P. boosted its position in Lumentum Holdings by 4.1% in the second quarter. PineBridge Investments L.P. now owns 6,015 shares of the company’s stock worth $146,000 after buying an additional 239 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Lumentum Holdings by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 6,581 shares of the company’s stock worth $159,000 after buying an additional 799 shares in the last quarter. Pacad Investment Ltd. purchased a new position in Lumentum Holdings during the second quarter worth approximately $160,000. Finally, ProShare Advisors LLC purchased a new position in Lumentum Holdings during the second quarter worth approximately $214,000. 74.97% of the stock is currently owned by institutional investors and hedge funds.
About Lumentum Holdings
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).
Receive News & Ratings for Lumentum Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lumentum Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.