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Lumentum (LITE) Set to Announce Earnings on Thursday


Lumentum (NASDAQ:LITE) is set to release its earnings data before the market opens on Thursday, February 3rd. Analysts expect Lumentum to post earnings of $1.28 per share for the quarter. Lumentum has set its Q2 guidance at $1.47-1.64 EPS and its Q2 2022 guidance at $1.470-$1.640 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Lumentum (NASDAQ:LITE) last announced its earnings results on Thursday, November 4th. The technology company reported $1.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.55 by $0.24. Lumentum had a net margin of 23.68% and a return on equity of 19.82%. The business had revenue of $448.40 million during the quarter, compared to analysts’ expectations of $439.95 million. During the same quarter in the prior year, the company posted $1.53 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts expect Lumentum to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Shares of LITE opened at $97.83 on Thursday. Lumentum has a 12 month low of $65.67 and a 12 month high of $108.90. The stock’s fifty day simple moving average is $99.06. The firm has a market capitalization of $7.07 billion, a PE ratio of 18.56 and a beta of 0.85. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.96 and a quick ratio of 3.62.

Several brokerages recently commented on LITE. Susquehanna increased their target price on shares of Lumentum from $100.00 to $120.00 and gave the stock a “positive” rating in a report on Wednesday, December 15th. Barclays upped their price target on shares of Lumentum from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 5th. Zacks Investment Research raised shares of Lumentum from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Friday, January 21st. Raymond James lowered shares of Lumentum from a “strong-buy” rating to an “outperform” rating and set a $96.00 price target on the stock. in a research report on Tuesday, October 12th. Finally, Morgan Stanley upped their price target on shares of Lumentum from $81.00 to $91.00 and gave the stock an “equal weight” rating in a research report on Friday, November 5th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lumentum presently has a consensus rating of “Buy” and an average price target of $103.63.

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In related news, Director Penny Herscher sold 1,066 shares of the firm’s stock in a transaction dated Friday, November 19th. The shares were sold at an average price of $90.56, for a total transaction of $96,536.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Alan S. Lowe sold 26,514 shares of the firm’s stock in a transaction dated Monday, November 8th. The stock was sold at an average price of $92.11, for a total transaction of $2,442,204.54. The disclosure for this sale can be found here. Insiders sold 50,421 shares of company stock worth $4,643,499 over the last three months. Insiders own 0.32% of the company’s stock.

Lumentum Company Profile

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

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Earnings History for Lumentum (NASDAQ:LITE)

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