Lumentum (NASDAQ:LITE) Releases Q4 2024 Earnings Guidance

Lumentum (NASDAQ:LITE) issued an update on its fourth quarter 2024 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -0.050-0.100 for the period, compared to the consensus estimate of 0.140. The company issued revenue guidance of $290.0 million-$315.0 million, compared to the consensus revenue estimate of $331.4 million. Lumentum also updated its Q4 guidance to ($0.05)-$0.10 EPS.

Lumentum Stock Down 1.4 %

NASDAQ:LITE traded down $0.63 during mid-day trading on Monday, hitting $44.11. The stock had a trading volume of 3,288,656 shares, compared to its average volume of 1,411,133. The stock has a 50-day simple moving average of $46.32 and a two-hundred day simple moving average of $47.18. The company has a market capitalization of $2.97 billion, a PE ratio of -11.20 and a beta of 1.09. Lumentum has a twelve month low of $35.35 and a twelve month high of $65.16. The company has a current ratio of 3.13, a quick ratio of 2.42 and a debt-to-equity ratio of 1.96.

Lumentum (NASDAQ:LITE) last issued its earnings results on Thursday, February 8th. The technology company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The firm had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. Lumentum had a negative net margin of 18.52% and a positive return on equity of 1.04%. On average, equities research analysts anticipate that Lumentum will post -0.64 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Lumentum from $40.00 to $45.00 and gave the stock an underweight rating in a research report on Tuesday, January 16th. Rosenblatt Securities boosted their price objective on shares of Lumentum from $60.00 to $65.00 and gave the stock a buy rating in a research report on Friday, February 9th. 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 research report on Thursday, April 11th. Stifel Nicolaus restated a buy rating and set a $62.00 price objective on shares of Lumentum in a research report on Monday, April 1st. Finally, B. Riley reduced their price objective on shares of Lumentum from $42.00 to $41.00 and set a neutral rating for the company in a research report on Friday, February 9th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $52.69.

Insider Activity at Lumentum

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