Lumentum (NASDAQ:LITE) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.65-0.77 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.92. The company issued revenue guidance of $375-390 million, compared to the consensus revenue estimate of $415.32 million.
Lumentum stock opened at $44.42 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.96 and a quick ratio of 3.20. Lumentum has a one year low of $37.00 and a one year high of $69.95. The stock has a market capitalization of $3.54 billion, a price-to-earnings ratio of 13.71, a price-to-earnings-growth ratio of 0.90 and a beta of 0.68.
Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.22. Lumentum had a return on equity of 19.94% and a net margin of 1.57%. The company had revenue of $433.00 million during the quarter, compared to analysts’ expectations of $428.33 million. During the same period last year, the business posted $0.78 earnings per share. The firm’s revenue was up 44.8% compared to the same quarter last year. As a group, equities analysts predict that Lumentum will post 3.3 earnings per share for the current year.
In related news, EVP Jason Reinhardt sold 9,575 shares of Lumentum stock in a transaction that occurred on Friday, February 22nd. The stock was 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 directly owns 63,877 shares in the company, valued at $3,218,123.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Martin A. Kaplan sold 3,025 shares of Lumentum stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $48.72, for a total value of $147,378.00. Following the transaction, the director now owns 18,902 shares of the company’s stock, valued at $920,905.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,029 shares of company stock valued at $713,563. Company insiders own 0.55% of the company’s stock.
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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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