Lumentum Holdings Inc’s Stock Is Sell After Today’s Bearish Options Activity

 Lumentum Holdings Inc's Stock Is Sell After Today's Bearish Options Activity

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 390,368 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 $21.48 million for 29.21 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 -34.21% below today’s ($42.06) stock price. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Barclays Capital maintained the stock with “Equal Weight” rating in Wednesday, November 11 report. The rating was maintained by Stifel Nicolaus on Friday, February 5 with “Buy”. The rating was initiated by JP Morgan on Thursday, August 6 with “Neutral”. Barclays Capital downgraded the stock to “Underweight” rating in Friday, January 8 report. Needham maintained Lumentum Holdings Inc (NASDAQ:LITE) on Monday, September 19 with “Strong Buy” rating. As per Tuesday, February 23, the company rating was initiated by Piper Jaffray. B. Riley & Co initiated the shares of LITE in a report on Wednesday, August 5 with “Buy” rating. Needham initiated the stock with “Buy” rating in Tuesday, August 4 report. As per Tuesday, January 12, the company rating was maintained by M Partners. The rating was maintained by M Partners with “Buy” on Wednesday, November 11.

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 $2.51 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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