Jefferies Group Equities Analysts Increase Earnings Estimates for Lumentum Holdings Inc. (LITE)

Lumentum Holdings Inc. (NASDAQ:LITE) – Equities researchers at Jefferies Group increased their Q1 2018 earnings per share (EPS) estimates for Lumentum Holdings in a research report issued on Tuesday. Jefferies Group analyst J. Kisner now anticipates that the brokerage will post earnings per share of $0.60 for the quarter, up from their prior forecast of $0.54. Jefferies Group currently has a “Buy” rating and a $51.50 target price on the stock. Jefferies Group also issued estimates for Lumentum Holdings’ Q4 2018 earnings at $0.61 EPS.

A number of other equities research analysts have also issued reports on LITE. Raymond James Financial, Inc. reissued a “buy” rating and issued a $46.00 price target on shares of Lumentum Holdings in a report on Friday. MKM Partners reissued a “buy” rating and issued a $50.00 price target on shares of Lumentum Holdings in a report on Friday. Stifel Nicolaus reissued a “buy” rating and issued a $45.00 price target on shares of Lumentum Holdings in a report on Friday. Needham & Company LLC reissued a “strong-buy” rating on shares of Lumentum Holdings in a report on Wednesday. Finally, J P Morgan Chase & Co reissued an “overweight” rating on shares of Lumentum Holdings in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $42.54.

Earnings History and Estimates for Lumentum Holdings (NASDAQ:LITE)

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Shares of Lumentum Holdings (NASDAQ:LITE) opened at 47.45 on Friday. Lumentum Holdings has a 12-month low of $20.80 and a 12-month high of $49.40. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 199.37 and a beta of 0.73. The company has a 50 day moving average of $38.31 and a 200-day moving average of $37.89.

Lumentum Holdings (NASDAQ:LITE) last posted its earnings results on Tuesday, February 7th. The company reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. Lumentum Holdings had a net margin of 1.50% and a return on equity of 17.24%. The company had revenue of $265 million for the quarter, compared to analyst estimates of $265.66 million. During the same quarter in the prior year, the business posted $0.31 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year.

In other news, CEO Alan S. Lowe sold 6,113 shares of Lumentum Holdings stock in a transaction dated Thursday, November 17th. The shares were sold at an average price of $40.68, for a total transaction of $248,676.84. Following the sale, the chief executive officer now owns 158,306 shares of the company’s stock, valued at approximately $6,439,888.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan S. Lowe sold 5,221 shares of Lumentum Holdings stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $36.05, for a total transaction of $188,217.05. Following the sale, the chief executive officer now directly owns 140,656 shares in the company, valued at approximately $5,070,648.80. The disclosure for this sale can be found here. Insiders have sold a total of 19,805 shares of company stock worth $777,818 in the last ninety days. Insiders own 0.76% of the company’s stock.

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Several large investors have recently made changes to their positions in LITE. Louisiana State Employees Retirement System raised its stake in Lumentum Holdings by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 21,020 shares of the company’s stock valued at $509,000 after buying an additional 100 shares during the last quarter. Argent Capital Management LLC raised its stake in Lumentum Holdings by 50.1% in the second quarter. Argent Capital Management LLC now owns 193,700 shares of the company’s stock valued at $4,688,000 after buying an additional 64,625 shares during the last quarter. Nationwide Fund Advisors acquired a new stake in Lumentum Holdings during the second quarter valued at approximately $798,000. Teacher Retirement System of Texas raised its stake 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 valued at $159,000 after buying an additional 799 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in Lumentum Holdings by 0.6% in the second quarter. Principal Financial Group Inc. now owns 333,727 shares of the company’s stock valued at $8,076,000 after buying an additional 2,037 shares during the last quarter. 83.17% of the stock is currently owned by hedge funds and other institutional investors.

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).

5 Day Chart for NASDAQ:LITE

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