Lumentum Holdings Inc Unusual Bearish Options Activity Means Higher Risks

 Lumentum Holdings Inc Unusual Bearish Options Activity Means Higher Risks

In today’s session Lumentum Holdings Inc (LITE) recorded an unusually high (1,459) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the October, 2016 put, expecting serious LITE decrease. With 1,459 contracts traded and 6354 open interest for the Oct, 16 contract, it seems this is a quite bearish bet. The option with symbol: LITE161021P00040000 closed last at: $0.85 or 19% down. About 197,961 shares traded hands. Lumentum Holdings Inc (NASDAQ:LITE) has risen 70.02% since March 1, 2016 and is uptrending. It has outperformed by 60.77% the S&P500.

Analysts await Lumentum Holdings Inc (NASDAQ:LITE) to report earnings on November, 8. They expect $0.36 EPS, up 140.00% or $0.21 from last year’s $0.15 per share. LITE’s profit will be $21.44 million for 29.15 P/E if the $0.36 EPS becomes a reality. After $0.35 actual EPS 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. $50 is the highest target while $18 is the lowest. The $27.67 average target is -34.07% below today’s ($41.97) stock price. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The stock of Lumentum Holdings Inc (NASDAQ:LITE) has “Buy” rating given on Wednesday, July 20 by M Partners. The stock has “Hold” rating given by Jefferies on Tuesday, August 4. Goldman Sachs initiated Lumentum Holdings Inc (NASDAQ:LITE) on Wednesday, August 5 with “Neutral” rating. The firm has “Sector Perform” rating by RBC Capital Markets given on Wednesday, September 9. The firm has “Buy” rating given on Friday, February 5 by Stifel Nicolaus. Barclays Capital downgraded Lumentum Holdings Inc (NASDAQ:LITE) on Friday, January 8 to “Underweight” rating. The stock has “Equal-Weight” rating given by Morgan Stanley on Thursday, August 13. The stock has “Buy” rating given by Stifel Nicolaus on Wednesday, August 12. Needham maintained Lumentum Holdings Inc (NASDAQ:LITE) rating on Monday, September 19. Needham has “Strong Buy” rating and $50 price target. On Tuesday, August 18 the stock rating was initiated by Northland Capital with “Outperform”.

Lumentum Holdings Inc. is a provider of optical and photonic products for a range of end market applications, including data communications and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The company has a market cap of $2.50 billion. The Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). It currently has negative earnings. The Company’s OpComms products include a range of components, modules and subsystems to support and maintain clients in its two primary markets: Telecom and Datacom.

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