What’s Propelling Lumentum Holdings Inc to Increase So Much?

 What's Propelling Lumentum Holdings Inc to Increase So Much?

In today’s session Lumentum Holdings Inc (LITE) registered an unusually high (6,571) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious LITE increase. With 6,571 contracts traded and 13984 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: LITE161118C00045000 closed last at: $0.5 or 28.6% down. About 721,891 shares traded hands. Lumentum Holdings Inc (NASDAQ:LITE) has risen 41.43% since March 29, 2016 and is uptrending. It has outperformed by 37.95% 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 $20.86 million for 24.93 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”, 3 “Sell”, while 5 “Hold”. This means 43% are positive. $56 is the highest target while $18 is the lowest. The $29.50 average target is -17.83% below today’s ($35.9) stock price. Lumentum has been the topic of 33 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Monday, August 10 by RBC Capital Markets. Stifel Nicolaus maintained the shares of LITE in a report on Friday, October 28 with “Buy” rating. The rating was maintained by M Partners with “Buy” on Wednesday, November 11. The company was downgraded on Friday, January 8 by Barclays Capital. The stock of Lumentum Holdings Inc (NASDAQ:LITE) earned “Buy” rating by M Partners on Wednesday, July 20. Stifel Nicolaus maintained it with “Buy” rating and $25 target price in Wednesday, August 12 report. The stock of Lumentum Holdings Inc (NASDAQ:LITE) has “Buy” rating given on Thursday, September 24 by M Partners. The stock has “Equal Weight” rating given by Barclays Capital on Wednesday, August 5. The stock of Lumentum Holdings Inc (NASDAQ:LITE) earned “Mkt Perform” rating by Raymond James on Tuesday, August 4. The stock of Lumentum Holdings Inc (NASDAQ:LITE) has “Hold” rating given on Tuesday, August 4 by Jefferies.

According to Zacks Investment Research, “Lumentum Holdings Inc. is a manufacturer of innovative optical and photonic products. The Company’s operating segment consists of Optical Communications and Commercial Lasers. Optical Communications segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems and traditional as well as cloud/data center service providers. Commercial Lasers segment products serve its customers in markets and applications, such as manufacturing, biotechnology, graphics and imaging, remote sensing and precision machining. Lumentum Holdings Inc. is headquartered in Milpitas, California.”

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 $2.08 billion. The Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). It has a 665.31 P/E ratio. 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.

LITE Company Profile

Lumentum Holdings Inc., incorporated on February 10, 2015, is a well-known provider of optical and photonic products for a range of end market applications, including data communications (Datacom) and telecommunications (Telecom) networking and commercial lasers (commercial lasers) for manufacturing, inspection and life-science applications. The Firm operates in two divisions: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s clients include original equipment manufacturers (OEMs).

More news for Lumentum Holdings Inc (NASDAQ:LITE) were recently published by: Fool.com, which released: “Here’s Why Lumentum Holdings Inc Stock Jumped 15% After Earnings” on November 11, 2015. Seekingalpha.com‘s article titled: “Spin-Off In The Spotlight: Lumentum Holdings Inc.” and published on October 04, 2016 is yet another important article.

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