Lumentum (NASDAQ:LITE) Issues Q4 Earnings Guidance

Lumentum (NASDAQ:LITE) issued an update on its fourth quarter earnings guidance on Monday morning. The company provided earnings per share guidance of ($0.05)-$0.10 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $290-$315 million, compared to the consensus revenue estimate of $330.86 million. Lumentum also updated its Q4 2024 guidance to -0.050-0.100 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on LITE. JPMorgan Chase & Co. reduced their price objective on shares of Lumentum from $62.00 to $57.00 and set an overweight rating for the company in a report on Thursday, April 11th. Stifel Nicolaus reaffirmed a buy rating and set a $62.00 price objective on shares of Lumentum in a report on Monday, April 1st. B. Riley dropped their target price on Lumentum from $41.00 to $40.00 and set a neutral rating for the company in a report on Tuesday. StockNews.com upgraded Lumentum to a sell rating in a research report on Monday. Finally, Rosenblatt Securities upped their target price on shares of Lumentum from $60.00 to $65.00 and gave the stock a buy rating in a report on Friday, February 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $52.08.

Lumentum Price Performance

NASDAQ:LITE traded up $1.19 during mid-day trading on Wednesday, reaching $42.59. 2,975,212 shares of the company were exchanged, compared to its average volume of 1,460,886. Lumentum has a 12 month low of $35.35 and a 12 month high of $65.16. The stock has a market cap of $2.87 billion, a PE ratio of -10.81 and a beta of 1.09. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96. The company has a fifty day moving average of $45.98 and a 200 day moving average of $47.20.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share 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 company had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. On average, research analysts anticipate that Lumentum will post -0.64 EPS for the current fiscal year.

Insider Activity

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $49.23, for a total value of $487,524.69. Following the transaction, the chief accounting officer now owns 33,188 shares of the company’s stock, valued at approximately $1,633,845.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by insiders.

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 (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.