Lumentum (NASDAQ:LITE) Issues Q1 2022 Earnings Guidance

Lumentum (NASDAQ:LITE) issued an update on its first quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of $1.470-$1.610 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.450. The company issued revenue guidance of $430 million-$445 million, compared to the consensus revenue estimate of $437.13 million.

NASDAQ:LITE traded up $0.43 during mid-day trading on Wednesday, hitting $86.34. The stock had a trading volume of 8,416 shares, compared to its average volume of 1,311,560. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 17.01 and a beta of 0.92. The company has a 50 day simple moving average of $83.64 and a 200-day simple moving average of $84.43. Lumentum has a 52 week low of $65.67 and a 52 week high of $112.08. The company has a current ratio of 3.67, a quick ratio of 3.37 and a debt-to-equity ratio of 0.40.

Lumentum (NASDAQ:LITE) last released its earnings results on Tuesday, August 17th. The technology company reported $1.15 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.09. The firm had revenue of $392.10 million for the quarter, compared to analysts’ expectations of $382.17 million. Lumentum had a net margin of 22.80% and a return on equity of 20.42%. Lumentum’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $1.18 EPS. As a group, equities research analysts anticipate that Lumentum will post 4.58 earnings per share for the current year.

Several equities analysts have commented on LITE shares. JPMorgan Chase & Co. reissued a neutral rating and set a $80.00 target price (down previously from $118.00) on shares of Lumentum in a research note on Thursday, May 20th. Zacks Investment Research raised shares of Lumentum from a sell rating to a hold rating in a research note on Tuesday, July 20th. Craig Hallum lifted their price objective on shares of Lumentum from $90.00 to $100.00 and gave the stock a buy rating in a research note on Thursday, August 19th. The Goldman Sachs Group cut shares of Lumentum from a buy rating to a neutral rating and lowered their price objective for the stock from $104.00 to $86.00 in a research note on Tuesday, June 1st. Finally, Needham & Company LLC lifted their price objective on shares of Lumentum from $87.00 to $100.00 and gave the stock a buy rating in a research note on Monday, July 19th. Six analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Lumentum currently has an average rating of Buy and a consensus target price of $96.76.

In other Lumentum news, CEO Alan S. Lowe sold 9,861 shares of the business’s stock in a transaction on Monday, August 23rd. The shares were sold at an average price of $86.86, for a total value of $856,526.46. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Wajid Ali sold 6,481 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $82.50, for a total transaction of $534,682.50. Following the completion of the sale, the chief financial officer now directly owns 70,314 shares in the company, valued at approximately $5,800,905. The disclosure for this sale can be found here. Insiders have sold 25,146 shares of company stock worth $2,144,141 in the last ninety days. 0.32% of the stock is currently owned by insiders.

About Lumentum

Lumentum Holdings, Inc engages in the provision of optical and photonic products. It operates through the Optical Communications (OpComms) and Commercial Lasers segments. The OpComms segment includes a range of components, modules, and subsystems to support customers including carrier networks of access (local), metro (intracity), long-haul (city-to-city and worldwide), and submarine (undersea) applications.

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Earnings History and Estimates for Lumentum (NASDAQ:LITE)

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