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 103,993 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 $21.43 million for 28.94 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 -33.60% below today’s ($41.67) stock price. Lumentum has been the topic of 30 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The rating was maintained by M Partners on Tuesday, January 12 with “Buy”. As per Wednesday, November 11, the company rating was maintained by Jefferies. Stifel Nicolaus maintained it with “Buy” rating and $25 target price in Wednesday, August 12 report. Raymond James initiated the shares of LITE in a report on Tuesday, August 4 with “Mkt Perform” rating. As per Thursday, August 13, the company rating was initiated by Morgan Stanley. B. Riley & Co initiated Lumentum Holdings Inc (NASDAQ:LITE) rating on Wednesday, August 5. B. Riley & Co has “Buy” rating and $27.25 price target. The firm has “Neutral” rating given on Wednesday, August 5 by Goldman Sachs. The firm has “Underweight” rating given on Friday, January 8 by Barclays Capital. Raymond James upgraded the shares of LITE in a report on Tuesday, May 31 to “Market Perform” rating. The rating was downgraded by Morgan Stanley to “Underweight” on Thursday, August 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 $2.48 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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