Notable News Spotlight: Lumentum Holdings Inc. (NASDAQ: LITE)

On 19 Nov 2019, Lumentum Holdings Inc. (NASDAQ: LITE) Its earnings per share (EPS) expected to touch remained -110.50% for this year while earning per share for the next 5-years is expected to reach at 14.00%. LITE has a gross margin of 28.20% and an operating margin of -1.10% while its profit margin remained -2.20% for the last 12 months. According to the most recent quarter its current ratio was 4.5 that represents company’s ability to meet its current financial obligations. The price moved ahead of 10.25% from the mean of 20 days, 19.04% from mean of 50 days SMA and performed 27.19% from mean of 200 days price. Company’s performance for the week was 2.29%, 24.57% for month and YTD performance remained 64.84%.

Lumentum Holdings Inc recently stated results for its fiscal first quarter of 2020 ended September 28, 2019.

Net revenue for the fiscal first quarter of 2020 was $449.9M, with GAAP net income of $47.6M, or $0.61 per diluted share. Net revenue for the fiscal fourth quarter of 2019 was $404.6M, with GAAP net loss to stockholders of $(25.8M), or $(0.34) per diluted share. Net revenue for the fiscal first quarter of 2019 was $354.1M, with GAAP net income attributable to ordinary stockholders of $46.1M, or $0.72 per diluted share.

Non-GAAP net income for the fiscal first quarter of 2020 was $111.4M, or $1.44 per diluted share. Non-GAAP net income for the fiscal fourth quarter of 2019 was $70.4M, or $0.91 per diluted share. Non-GAAP net income for the fiscal first quarter of 2019 was $86.1M, or $1.32 per diluted share.

The Company held $830.9M in total cash and short-term investments at the end of the fiscal first quarter of 2020. Subsequent to the first quarter, on October 30, 2019, the Company made a $150M voluntary principle pre-payment under its term loan facility.

“Our strong first quarter performance highlights our continued progress toward our long-term planned and financial goals, with a revenue mix richer in newer and more innovative products, increased scale, and acquisition synergies all driving sequential and year on year improvements in gross and operating margins,” stated Alan Lowe, Lumentum President and CEO. “In particular, improvements in telecom and datacom margins helped first quarter non-GAAP gross margin expand importantly year on year to over 45% for the first time. As we look to our second quarter, we are seeing strengthening demand for key differentiated products in telecom, datacom, and commercial lasers.”

Lumentum Holdings Inc. (LITE) spotted trading -0.04% off 52-week high price. On the other end, the stock has been noted 85.71% away from the low price over the last 52-weeks. The stock changed 0.49% to recent value of $69.25. The stock transacted 824591 shares during most recent day however it has an average volume of 1211.73K shares. The company has 76.18M of outstanding shares and 76.18M shares were floated in the market.

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