Lumentum Holdings Inc (LITE) Forecasted to Post Q3 2018 Earnings of $0.61 Per Share

Lumentum Holdings Inc (NASDAQ:LITE) – Equities research analysts at Jefferies Group raised their Q3 2018 earnings per share (EPS) estimates for Lumentum Holdings in a report issued on Thursday, Zacks Investment Research reports. Jefferies Group analyst J. Kisner now forecasts that the technology company will post earnings per share of $0.61 for the quarter, up from their previous forecast of $0.52. Jefferies Group currently has a “Buy” rating and a $56.00 target price on the stock.

Lumentum Holdings (NASDAQ:LITE) last issued its earnings results on Tuesday, February 7th. The technology company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.06. Lumentum Holdings had a return on equity of 17.24% and a net margin of 1.50%. The firm had revenue of $265 million for the quarter, compared to the consensus estimate of $265.66 million. During the same quarter in the prior year, the business earned $0.31 earnings per share. The company’s revenue was up 21.4% compared to the same quarter last year. ILLEGAL ACTIVITY NOTICE: “Lumentum Holdings Inc (LITE) Forecasted to Post Q3 2018 Earnings of $0.61 Per Share” was reported by BBNS and is the sole property of of BBNS. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://baseballnewssource.com/markets/jefferies-group-weighs-in-on-lumentum-holdings-incs-q3-2018-earnings-lite-updated-updated/525991.html.

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

Several other equities research analysts have also commented on LITE. B. Riley reissued a “buy” rating and set a $53.50 price target on shares of Lumentum Holdings in a research note on Monday, February 13th. MKM Partners reissued a “buy” rating and set a $50.00 price target on shares of Lumentum Holdings in a research note on Friday, February 10th. Raymond James Financial, Inc. reissued a “buy” rating and set a $46.00 price target on shares of Lumentum Holdings in a research note on Friday, February 10th. Stifel Nicolaus reissued a “buy” rating and set a $57.50 price target (up previously from $45.00) on shares of Lumentum Holdings in a research note on Friday, February 10th. Finally, Zacks Investment Research raised Lumentum Holdings from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a research note on Tuesday, February 14th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. Lumentum Holdings presently has an average rating of “Hold” and an average target price of $47.54.

Shares of Lumentum Holdings (NASDAQ:LITE) traded up 2.96% during mid-day trading on Friday, hitting $45.20. The stock had a trading volume of 1,895,381 shares. The firm has a market cap of $2.74 billion, a PE ratio of 189.92 and a beta of 0.73. The firm has a 50 day moving average price of $48.12 and a 200 day moving average price of $42.37. Lumentum Holdings has a 52-week low of $20.80 and a 52-week high of $55.92.

In other Lumentum Holdings news, COO Vincent Retort sold 809 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $52.10, for a total value of $42,148.90. Following the completion of the transaction, the chief operating officer now directly owns 66,444 shares in the company, valued at approximately $3,461,732.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan S. Lowe sold 1,094 shares of the business’s stock in a transaction on Wednesday, February 22nd. The shares were sold at an average price of $52.10, for a total value of $56,997.40. Following the completion of the transaction, 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. In the last ninety days, insiders sold 37,999 shares of company stock worth $1,859,770. 0.76% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nationwide Fund Advisors increased its position in shares of Lumentum Holdings by 9.7% in the first quarter. Nationwide Fund Advisors now owns 86,654 shares of the technology company’s stock valued at $4,623,000 after buying an additional 7,657 shares during the period. State of Alaska Department of Revenue increased its position in shares of Lumentum Holdings by 3.9% in the first quarter. State of Alaska Department of Revenue now owns 6,150 shares of the technology company’s stock valued at $328,000 after buying an additional 230 shares during the period. DnB Asset Management AS acquired a new position in shares of Lumentum Holdings during the first quarter valued at $1,446,000. Louisiana State Employees Retirement System increased its position in shares of Lumentum Holdings by 2.7% in the first quarter. Louisiana State Employees Retirement System now owns 22,620 shares of the technology company’s stock valued at $1,207,000 after buying an additional 600 shares during the period. Finally, Creative Planning increased its position in shares of Lumentum Holdings by 15.1% in the first quarter. Creative Planning now owns 1,971 shares of the technology company’s stock valued at $105,000 after buying an additional 258 shares during the period. Institutional investors own 84.16% of the company’s stock.

Lumentum Holdings Company Profile

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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