Lumentum (LITE) to Release Earnings on Monday

Lumentum (NASDAQ:LITE - Get Free Report) will issue its quarterly earnings data after the market closes on Monday, May 6th. Analysts expect the company to announce 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.Investors interested in participating in the company's conference call can do so using this link.

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

Lumentum Stock Up 0.2 %

LITE traded up $0.10 during trading hours on Monday, hitting $43.52. 750,887 shares of the company's stock were exchanged, compared to its average volume of 1,394,055. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of -11.05 and a beta of 1.09. Lumentum has a 1-year low of $35.35 and a 1-year high of $65.16. The stock's 50-day moving average is $46.73 and its two-hundred day moving average is $47.10. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96.

Insider Activity

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of Lumentum stock in a transaction on Thursday, February 15th. The stock was 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 $1,633,845.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on LITE. JPMorgan Chase & Co. reduced their price target on Lumentum from $62.00 to $57.00 and set an "overweight" rating for the company in a research report on Thursday, April 11th. Raymond James boosted their target price on shares of Lumentum from $51.50 to $58.00 and gave the stock an "outperform" rating in a report on Monday, April 1st. Rosenblatt Securities increased their price target on shares of Lumentum from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Friday, February 9th. B. Riley lowered their price objective on shares of Lumentum from $42.00 to $41.00 and set a "neutral" rating on the stock in a research note on Friday, February 9th. Finally, Stifel Nicolaus reiterated a "buy" rating and issued a $62.00 target price on shares of Lumentum in a research note on Monday, April 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Lumentum has an average rating of "Hold" and an average price target 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.