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.

Analysts Set New Price Targets

A number of analysts have recently commented on LITE shares. B. Riley cut their price target on Lumentum from $41.00 to $40.00 and set a neutral rating on the stock in a report on Tuesday. Rosenblatt Securities raised their target price on shares of Lumentum from $60.00 to $65.00 and gave the company 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 note on Thursday, April 11th. Needham & Company LLC restated a buy rating and issued a $50.00 price objective on shares of Lumentum in a report on Friday, February 9th. Finally, Raymond James upped their target price on Lumentum from $51.50 to $58.00 and gave the stock an outperform rating in a report on Monday, April 1st. Three analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Lumentum has a consensus rating of Hold and an average target price of $52.08.

Lumentum Stock Performance

Shares of NASDAQ LITE traded up $1.48 during midday trading on Wednesday, hitting $42.88. 1,839,963 shares of the company’s stock were exchanged, compared to its average volume of 1,447,544. The company has a quick ratio of 2.42, a current ratio of 3.13 and a debt-to-equity ratio of 1.96. The firm has a market capitalization of $2.89 billion, a PE ratio of -10.51 and a beta of 1.09. Lumentum has a 12 month low of $35.35 and a 12 month high of $65.16. The company’s 50 day moving average price is $46.08 and its 200 day moving average price is $47.23.

Lumentum (NASDAQ:LITE) last released its quarterly earnings data on Thursday, February 8th. The technology company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.07). The company 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%. As a group, analysts predict that Lumentum will post -0.64 earnings per share for the current fiscal year.

Insider Activity

In other Lumentum news, CAO Matthew Joseph Sepe sold 9,903 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $49.23, for a total transaction of $487,524.69. Following the transaction, 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 link. 0.60% of the stock is owned by company 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.