Stock Worth Watching: Today Lumentum Holdings Inc Stock Crashes

Stock Worth Watching: Today Lumentum Holdings Inc Stock Crashes

The stock of Lumentum Holdings Inc (NASDAQ:LITE) is a huge mover today! About 2.09 million shares traded hands or 118.41% up from the average. Lumentum Holdings Inc (NASDAQ:LITE) has risen 87.45% since March 8, 2016 and is uptrending. It has outperformed by 78.13% the S&P500.
The move comes after 9 months negative chart setup for the $2.43 billion company. It was reported on Oct, 11 by We have $37.04 PT which if reached, will make NASDAQ:LITE worth $194.40 million less.

Analysts await Lumentum Holdings Inc (NASDAQ:LITE) to report earnings on November, 8. They expect $0.36 earnings per share, up 140.00% or $0.21 from last year’s $0.15 per share. LITE’s profit will be $21.73 million for 27.96 P/E if the $0.36 EPS becomes a reality. After $0.35 actual earnings per share reported by Lumentum Holdings Inc for the previous quarter, Wall Street now forecasts 2.86% EPS growth.

Lumentum Holdings Inc (NASDAQ:LITE) Ratings Coverage

Out of 14 analysts covering Lumentum (NASDAQ:LITE), 6 rate it a “Buy”, 2 “Sell”, while 6 “Hold”. This means 43% are positive. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Wednesday, September 9, the company rating was downgraded by RBC Capital Markets. The company was initiated on Thursday, August 6 by JP Morgan. The stock has “Buy” rating given by M Partners on Wednesday, November 11. Barclays Capital downgraded the shares of LITE in a report on Friday, January 8 to “Underweight” rating. As per Wednesday, August 5, the company rating was initiated by Goldman Sachs. The company was maintained on Monday, September 19 by Needham. The firm has “Equal Weight” rating given on Wednesday, November 11 by Barclays Capital. Piper Jaffray initiated the shares of LITE in a report on Tuesday, February 23 with “Overweight” rating. Northland Capital initiated Lumentum Holdings Inc (NASDAQ:LITE) on Tuesday, August 18 with “Outperform” rating. Raymond James initiated the stock with “Mkt Perform” rating in Tuesday, August 4 report.

According to Zacks Investment Research, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California.”

Another recent and important Lumentum Holdings Inc (NASDAQ:LITE) news was published by which published an article titled: “Spin-Off In The Spotlight: Lumentum Holdings Inc.” on October 04, 2016.

LITE Company Profile

Lumentum Holdings Inc., incorporated on February 10, 2015, is a well-known 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 Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s clients include original equipment manufacturers (OEMs).

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Leave a Comment