Lumentum (NASDAQ:LITE) Updates 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 guidance of -0.050-0.100 for the period, compared to the consensus earnings per share 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.

Wall Street Analyst Weigh In

LITE has been the subject of several research analyst reports. JPMorgan Chase & Co. dropped their target price 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. Susquehanna lowered their price objective on shares of Lumentum from $65.00 to $60.00 and set a positive rating for the company in a report on Friday, February 9th. 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. Rosenblatt Securities raised their target price on Lumentum from $60.00 to $65.00 and gave the company a buy rating in a research note on Friday, February 9th. Finally, StockNews.com raised Lumentum to a sell rating in a research note on Monday. Three analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $52.08.

Lumentum Price Performance

Shares of NASDAQ:LITE opened at $42.59 on Thursday. The company has a market capitalization of $2.87 billion, a PE ratio of -10.81 and a beta of 1.09. The business has a fifty day moving average price of $45.98 and a 200-day moving average price of $47.20. Lumentum has a 1-year low of $35.35 and a 1-year high of $65.16. The company has a debt-to-equity ratio of 1.96, a current ratio of 3.13 and a quick ratio of 2.42.

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 business had revenue of $366.80 million during the quarter, compared to the consensus estimate of $363.44 million. Lumentum had a positive return on equity of 1.04% and a negative net margin of 18.52%. As a group, equities analysts expect that Lumentum will post -0.64 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Matthew Joseph Sepe sold 9,903 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was 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 directly 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 is available at the SEC website. 0.60% of the stock is currently owned by corporate 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.