Revenue Update on Lumentum Holdings Inc(NASDAQ:LITE)

Lumentum Holdings Inc(NASDAQ:LITE) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-hours on Aug 9, 2016. Company reported revenue of $241.70M. Analysts estimated a revenue of $238.42M. Earnings per share were $0.41. Analysts had estimated an EPS of $0.36.

In a different note, On Jul 25, 2016, Needham said it Upgrades its rating on Lumentum Holdings Inc. The shares have been rated ‘Strong Buy’ by the firm. On May 31, 2016, Raymond James said it Upgrades its rating on Lumentum Holdings Inc. The shares have been rated ‘Market Perform’ by the firm.

Several Insider Transactions has been reported to the SEC. On Jul 27, 2016, Vincent Retort (EVP and COO) sold 39,473 shares at $30.00 per share price.Also, On Jun 2, 2016, Solutions Inc. Viavi (10% owner) sold 1,000,000 shares at $25.05 per share price.On May 27, 2016, Judy G Hamel (General Counsel & Secretary) sold 492 shares at $23.98 per share price, according to the Form-4 filing with the securities and exchange commission.

Lumentum Holdings Inc. (Lumentum) is a provider of optical and photonic products. The Company’s products are used in a range of end markets including data communications (Datacom) and telecommunications (Telecom) networking and industrial and commercial lasers (commercial lasers) for manufacturing inspection and life-sciences applications. The Company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The Company’s OpComms segment portfolio includes products used by Telecom and Datacom nanoelectromechanical systems (NEMs) and both traditional and cloud/data center service providers. The Company’s Lasers segment products serve its customers in markets and applications such as manufacturing biotechnology graphics and imaging remote sensing and precision machining such as drilling in printed circuit boards wafer singulation and solar cell scribing.

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