Wall Street analysts predict that Lumentum Holdings Inc (NASDAQ:LITE) will announce $442.86 million in sales for the current quarter, Zacks reports. Five analysts have made estimates for Lumentum’s earnings. The highest sales estimate is $449.20 million and the lowest is $437.50 million. Lumentum reported sales of $449.90 million in the same quarter last year, which indicates a negative year over year growth rate of 1.6%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 29th.

According to Zacks, analysts expect that Lumentum will report full year sales of $1.78 billion for the current financial year, with estimates ranging from $1.71 billion to $1.82 billion. For the next year, analysts expect that the business will report sales of $1.92 billion, with estimates ranging from $1.85 billion to $1.97 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Lumentum.

Lumentum (NASDAQ:LITE) last released its quarterly earnings results on Tuesday, August 11th. The technology company reported $1.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.35. Lumentum had a net margin of 8.07% and a return on equity of 20.77%. The business had revenue of $368.10 million for the quarter, compared to analysts’ expectations of $349.73 million. During the same period in the prior year, the firm earned $0.92 earnings per share. Lumentum’s revenue was down 9.0% compared to the same quarter last year.

A number of brokerages have issued reports on LITE. Loop Capital began coverage on shares of Lumentum in a research note on Thursday, July 23rd. They issued a “buy” rating and a $110.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Lumentum from $75.00 to $84.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 12th. BidaskClub raised shares of Lumentum from a “strong sell” rating to a “sell” rating in a research note on Tuesday, September 22nd. DA Davidson raised shares of Lumentum to a “buy” rating and raised their price objective for the company from $100.00 to $110.00 in a research note on Wednesday, August 12th. Finally, Rosenblatt Securities raised their price objective on shares of Lumentum from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $100.63.

Shares of LITE stock opened at $74.20 on Monday. Lumentum has a 52-week low of $48.44 and a 52-week high of $96.74. The stock has a market cap of $5.58 billion, a PE ratio of 42.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 6.58 and a current ratio of 7.24. The firm’s 50 day moving average price is $81.52 and its two-hundred day moving average price is $78.40.

In related news, CFO Wajid Ali sold 6,694 shares of the firm’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $86.27, for a total transaction of $577,491.38. Following the sale, the chief financial officer now directly owns 113,683 shares in the company, valued at $9,807,432.41. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan S. Lowe sold 2,719 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $85.77, for a total transaction of $233,208.63. Following the sale, the chief executive officer now owns 121,077 shares in the company, valued at $10,384,774.29. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,610 shares of company stock worth $8,164,282. 0.48% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Mint Tower Capital Management B.V. bought a new position in Lumentum in the second quarter valued at $14,643,000. Copper Rock Capital Partners LLC grew its position in Lumentum by 3,704.7% in the second quarter. Copper Rock Capital Partners LLC now owns 4,879,464 shares of the technology company’s stock valued at $371,313,000 after purchasing an additional 4,751,216 shares in the last quarter. Neuberger Berman Group LLC grew its position in Lumentum by 32.2% in the second quarter. Neuberger Berman Group LLC now owns 2,395,751 shares of the technology company’s stock valued at $195,086,000 after purchasing an additional 583,975 shares in the last quarter. Holocene Advisors LP grew its position in Lumentum by 251.6% in the second quarter. Holocene Advisors LP now owns 1,165,918 shares of the technology company’s stock valued at $94,941,000 after purchasing an additional 834,277 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Lumentum by 5.6% in the first quarter. Geode Capital Management LLC now owns 1,137,161 shares of the technology company’s stock valued at $83,807,000 after purchasing an additional 60,573 shares in the last quarter. 99.76% of the stock is owned by institutional investors and hedge funds.

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 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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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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