Lumentum Holdings Inc. (LITE) Scheduled to Post Earnings on Wednesday
Lumentum Holdings Inc. (NASDAQ:LITE) is scheduled to announce its earnings results before the market opens on Wednesday, August 9th. Analysts expect the company to announce earnings of $0.21 per share for the quarter.
Lumentum Holdings Inc. (LITE) opened at 58.75 on Tuesday. The company’s market capitalization is $3.59 billion. Lumentum Holdings Inc. has a 52-week low of $29.86 and a 52-week high of $68.63. The stock has a 50 day moving average price of $61.85 and a 200 day moving average price of $51.73.
Several research analysts have recently commented on LITE shares. Zacks Investment Research lowered Lumentum Holdings from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 12th. BidaskClub upgraded Lumentum Holdings from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Stifel Nicolaus restated a “buy” rating and set a $73.00 price target on shares of Lumentum Holdings in a research report on Saturday, July 22nd. Jefferies Group LLC restated a “buy” rating and set a $62.00 price target on shares of Lumentum Holdings in a research report on Monday, May 15th. Finally, Barclays PLC upgraded Lumentum Holdings from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $35.00 to $48.00 in a research report on Friday, May 5th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Lumentum Holdings presently has an average rating of “Buy” and a consensus price target of $59.64.
In other Lumentum Holdings news, CFO Aaron Tachibana sold 1,521 shares of the firm’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $54.40, for a total value of $82,742.40. Following the sale, the chief financial officer now directly owns 45,495 shares in the company, valued at $2,474,928. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Vincent Retort sold 2,029 shares of the firm’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $54.26, for a total value of $110,093.54. Following the completion of the sale, the chief operating officer now owns 68,448 shares in the company, valued at $3,713,988.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 11,813 shares of company stock worth $648,776. 0.76% of the stock is owned by insiders.
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Lumentum Holdings Company Profile
Lumentum Holdings Inc is a provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Company operates in two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers).
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