Lumentum Holdings Inc (LITE) Releases Earnings Results, Beats Expectations By $0.05 EPS

Lumentum Holdings Inc (LITE) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.41 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $0.36. The company posted revenue of $241.70 million in the period, compared to analysts expectations of $238.52 million. The company’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Many Wall Street Analysts have commented on Lumentum Holdings Inc. Company shares were Upgraded by Needham on Jul 25, 2016 to ” Strong Buy”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Company shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $28 .Lumentum Holdings Inc was Upgraded by Raymond James to ” Outperform” on May 31, 2016.

In a different news, on Jul 27, 2016, Vincent Retort (EVP and COO) sold 39,473 shares at $30.00 per share price. According to the SEC, on May 27, 2016, Judy G Hamel (General Counsel & Secretary) sold 492 shares at $23.98 per share price. On May 13, 2016, Harold L Covert (director) sold 7,376 shares at $23.70 per share price, according to the Form-4 filing with the securities and exchange commission.

Lumentum Holdings Inc. (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets including data communications (Datacom) and telecommunications (Telecom) networking and industrial and commercial lasers (commercial lasers) for manufacturing inspection and life-sciences applications. The Company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Company’s Lasers segment products serve its customers in markets and applications such as manufacturing biotechnology graphics and imaging remote sensing and precision machining such as drilling in printed circuit boards wafer singulation and solar cell scribing.

Lumentum Holdings Inc

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