Lumentum Holdings Inc (NASDAQ:LITE) – Equities research analysts at B. Riley issued their FY2019 earnings estimates for shares of Lumentum in a research report issued to clients and investors on Wednesday, May 8th. B. Riley analyst D. Kang anticipates that the technology company will post earnings of $3.34 per share for the year. B. Riley has a “Buy” rating and a $74.00 price target on the stock. B. Riley also issued estimates for Lumentum’s Q4 2019 earnings at $0.73 EPS.
Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 7th. The technology company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.22. The company had revenue of $433.00 million during the quarter, compared to the consensus estimate of $428.33 million. Lumentum had a net margin of 1.57% and a return on equity of 19.94%. Lumentum’s revenue was up 44.8% compared to the same quarter last year. During the same period last year, the firm earned $0.78 earnings per share.
NASDAQ LITE opened at $55.46 on Monday. The firm has a market capitalization of $4.54 billion, a price-to-earnings ratio of 17.12, a P/E/G ratio of 1.14 and a beta of 0.68. Lumentum has a 12-month low of $37.00 and a 12-month high of $69.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.96 and a quick ratio of 3.24.
In related news, EVP Jason Reinhardt sold 9,575 shares of the firm’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $50.38, for a total transaction of $482,388.50. Following the completion of the transaction, the executive vice president now owns 63,877 shares of the company’s stock, valued at $3,218,123.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Harold L. Covert sold 3,017 shares of the firm’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $46.01, for a total transaction of $138,812.17. Following the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $920,200. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,046 shares of company stock valued at $852,375. 0.55% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LITE. Meeder Asset Management Inc. purchased a new position in Lumentum in the fourth quarter valued at $25,000. Sapphire Star Partners LP acquired a new stake in shares of Lumentum in the fourth quarter valued at about $28,000. Rockefeller Capital Management L.P. grew its position in shares of Lumentum by 159.1% in the first quarter. Rockefeller Capital Management L.P. now owns 482 shares of the technology company’s stock valued at $28,000 after purchasing an additional 296 shares during the period. Oregon Public Employees Retirement Fund grew its position in shares of Lumentum by 4,834.3% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,231,145 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,206,194 shares during the period. Finally, IFP Advisors Inc grew its position in shares of Lumentum by 121.7% in the fourth quarter. IFP Advisors Inc now owns 949 shares of the technology company’s stock valued at $39,000 after purchasing an additional 521 shares during the period. 88.11% of the stock is owned by institutional investors.
Lumentum Company Profile
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 and Commercial Lasers. The Optical Communications segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and text data over high-capacity fiber optic cables.
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