News coverage about Lumentum (NASDAQ:LITE) has been trending somewhat positive recently, according to Accern Sentiment Analysis. The research firm identifies negative and positive news coverage by monitoring more than 20 million blog and news sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Lumentum earned a news sentiment score of 0.07 on Accern’s scale. Accern also gave news headlines about the technology company an impact score of 44.9617957992505 out of 100, indicating that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the immediate future.
Shares of LITE opened at $58.75 on Friday. Lumentum has a 52-week low of $41.95 and a 52-week high of $74.40. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.81 and a current ratio of 5.56. The firm has a market cap of $3.94 billion and a price-to-earnings ratio of 36.95.
Lumentum (NASDAQ:LITE) last announced its quarterly earnings results on Wednesday, May 2nd. The technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.07. The firm had revenue of $299.00 million for the quarter, compared to analysts’ expectations of $292.30 million. Lumentum had a net margin of 13.63% and a return on equity of 23.35%. The company’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.49 EPS. analysts forecast that Lumentum will post 2.89 earnings per share for the current fiscal year.
In other news, SVP Judy G. Hamel sold 541 shares of the business’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $63.34, for a total transaction of $34,266.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Aaron Tachibana sold 2,000 shares of the business’s stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the chief financial officer now directly owns 68,530 shares in the company, valued at approximately $4,454,450. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,551 shares of company stock worth $2,995,359. Corporate insiders own 0.76% of the company’s stock.
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. It 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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