Lumentum Holdings Inc (NASDAQ:LITE) – Investment analysts at Jefferies Group increased their Q4 2017 earnings per share (EPS) estimates for Lumentum Holdings in a report released on Thursday. Jefferies Group analyst J. Kisner now anticipates that the firm will earn $0.47 per share for the quarter, up from their previous forecast of $0.46. Jefferies Group currently has a “Buy” rating and a $56.00 target price on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q1 2018 earnings at $0.92 EPS, Q2 2018 earnings at $0.82 EPS, Q4 2018 earnings at $1.19 EPS and FY2018 earnings at $3.53 EPS.
Lumentum Holdings (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, February 7th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Lumentum Holdings had a net margin of 1.50% and a return on equity of 17.24%. The firm earned $265 million during the quarter, compared to analysts’ expectations of $265.66 million. During the same period in the previous year, the company earned $0.31 EPS. The firm’s revenue for the quarter was up 21.4% compared to the same quarter last year.
Other equities analysts also recently issued reports about the stock. Morgan Stanley increased their price objective on shares of Lumentum Holdings from $34.00 to $44.00 and gave the company an “underweight” rating in a report on Wednesday, February 22nd. B. Riley reaffirmed a “buy” rating on shares of Lumentum Holdings in a report on Thursday, January 5th. Zacks Investment Research downgraded shares of Lumentum Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, December 7th. MKM Partners reaffirmed a “buy” rating on shares of Lumentum Holdings in a report on Thursday, December 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $57.50 price objective (up from $45.00) on shares of Lumentum Holdings in a report on Thursday, February 16th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $46.42.
Lumentum Holdings (NASDAQ:LITE) opened at 54.15 on Monday. The stock has a market capitalization of $3.28 billion, a PE ratio of 227.52 and a beta of 0.73. The company’s 50 day moving average is $47.82 and its 200-day moving average is $41.36. Lumentum Holdings has a 1-year low of $20.80 and a 1-year high of $55.20.
Several large investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its stake in shares of Lumentum Holdings by 18.3% in the third quarter. BlackRock Fund Advisors now owns 3,791,393 shares of the company’s stock worth $158,366,000 after buying an additional 586,871 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of Lumentum Holdings by 110,915.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,070,429 shares of the company’s stock worth $86,482,000 after buying an additional 2,068,564 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Lumentum Holdings by 69,766.5% in the third quarter. Victory Capital Management Inc. now owns 1,429,469 shares of the company’s stock worth $59,709,000 after buying an additional 1,427,423 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Lumentum Holdings by 8.6% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,330,324 shares of the company’s stock worth $55,568,000 after buying an additional 105,322 shares during the period. Finally, State Street Corp boosted its stake in shares of Lumentum Holdings by 7.9% in the fourth quarter. State Street Corp now owns 1,176,587 shares of the company’s stock worth $45,475,000 after buying an additional 86,356 shares during the period. Institutional investors and hedge funds own 84.16% of the company’s stock.
In other news, CEO Alan S. Lowe sold 5,221 shares of the stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $36.05, for a total value of $188,217.05. Following the completion of the sale, the chief executive officer now directly owns 140,656 shares in the company, valued at $5,070,648.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan S. Lowe sold 1,094 shares of the stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $52.10, for a total transaction of $56,997.40. Following the completion of the sale, the chief executive officer now owns 142,942 shares of the company’s stock, valued at $7,447,278.20. The disclosure for this sale can be found here. Insiders sold 43,220 shares of company stock valued at $2,047,987 over the last quarter. Company insiders own 0.76% of the company’s stock.
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).
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