Lumentum Holdings Inc (LITE) released its third quarter results on Wednesday, May 12, 2021. The company reported net earnings of $2.85 per share for the third quarter ending March 31, 2021. Earnings for this past quarter were up 408 percent compared to the same period a year ago.
Lumentum Holdings Inc. was incorporated in 2015 and is headquartered in San Jose, California. Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Optical Communications (OpComms) and Commercial Lasers (Lasers).
Lumentum Holdings' revenue increased 0 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 53.4% for the third quarter compared to the same period in the previous year, and operating margins increased to 14.95% over the same period. Net earnings for past trailing twelve months were $371.2 million, up 225% from the prior year.
Moving on to the balance sheet, Lumentum Holdings' cash levels dropped 0% for the third quarter over the same period last year. Overall liquidity of the balance sheet, as measured by the current ratio, decreased 44.33% this past year. The current ratio for Lumentum Holdings now stands at 3.81. The company increased shares outstanding by 1.24%.
Shares of LITE are currently trading around $67.43. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 14.33 and price to book ratio of 2.47.
This article was written by Value Investing News (https://www.valueinvestingnews.com) on Friday, May 14, 2021.