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 EPS guidance of ($0.05)-$0.10 for the period, compared to the consensus EPS 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.

Lumentum Stock Down 3.8 %

LITE traded down $1.67 on Tuesday, reaching $42.44. 2,564,185 shares of the company traded hands, compared to its average volume of 1,423,819. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -10.66 and a beta of 1.09. Lumentum has a 52-week low of $35.35 and a 52-week high of $65.16. The stock’s 50 day moving average price is $46.22 and its 200-day moving average price is $47.22.

Lumentum (NASDAQ:LITE) last issued its quarterly earnings data 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 positive return on equity of 1.04% and a negative net margin of 18.52%. The firm had revenue of $366.80 million during the quarter, compared to analyst estimates of $363.44 million. On average, sell-side analysts expect that Lumentum will post -0.64 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC reaffirmed a buy rating and issued a $50.00 target price on shares of Lumentum in a report on Friday, February 9th. Rosenblatt Securities increased their price objective on shares of Lumentum from $60.00 to $65.00 and gave the stock a buy rating in a report on Friday, February 9th. JPMorgan Chase & Co. reduced their target price on shares of Lumentum from $62.00 to $57.00 and set an overweight rating on the stock in a research note on Thursday, April 11th. Barclays reduced their target price on shares of Lumentum from $40.00 to $38.00 and set an underweight rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Lumentum to a sell rating in a research note on Monday. Three equities 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 data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $52.08.

Insider Buying and Selling at Lumentum

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the firm’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 33,188 shares in the company, valued at $1,633,845.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.60% of the company’s stock.

About Lumentum

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.