What’s Ahead for Lumentum Holdings Inc After Today’s Bearish Options Activity?

 What's Ahead for Lumentum Holdings Inc 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 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.

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: , ,

Related posts

Leave a Comment