Home Companies Lumentum Holdings Inc. (LITE) Stock Drops Despite Promising Fiscal Q3 2021 Financial...

Lumentum Holdings Inc. (LITE) Stock Drops Despite Promising Fiscal Q3 2021 Financial Reports

Lumentum Holdings Inc. (LITE) stock prices were down by a significant 16.42% shortly after market trading commenced, bringing the price per share down to USD$68.65 early in the trading day.

Comparative Revenue Reports

5 Stocks Under $10 That Are Poised to Take Off

Investing in stocks under $10 could significantly increase the returns on your portfolio, especially if you pick the right stocks! Within this report you will find 5 top stocks that offer investors huge upside potential and the best bang for their buck.

Add them to your watchlist before they take off!

Get the Top 5 Stocks Now!


The company reported net revenue for the third fiscal quarter of 2021 in the amount of USD$419.5 million, which did not include USD$14.8 million which had been deferred. Q3 2021 saw a GAAP net income of USD$225.5 million, representing USD$2.85 per diluted share. These numbers are comparable to the USD$478.8 million in net revenue reported for the prior quarter of 2021, with a GAAP net income of 83.2 million, or USD$1.06 per diluted share. Net revenue for the third fiscal quarter of the prior year was USD$402.8 million, with a GAAP net income of USD$43.4 million, or USD$0.56 per diluted share.

Non-GAAP Financials

Non-GAAP net income for Q3 2021 was reported at USD$110.6 million, or USD$1.40 per diluted share. This is comparable to the non-GAAP net income of USD$155.7 million for the fiscal second quarter of 2021, coming out to USD$1.99 per diluted share. The third fiscal quarter of the previous year saw LITE reporting non-GAAP net income of USD$98 million, or USD$1.26 per diluted share.

Solid Liquidity Position

LITE reported a very strong liquidity position at the end of its 14-week third fiscal quarter of 2021. The company disclosed total cash, cash equivalents, and short-term investments amounting to USD$2054.6 million at the end of the fiscal third quarter of 2021. This is a significant USD$354.3 million reported at the end of the second fiscal quarter of 2021.

Share Buyback Program

Signaling confidence in the company’s long-term outlook, and as a result of a cash balance that’s increased by USD$600 million over the previous 12 months, the LITE Board of Directors approved a share buyback program. The program will see the reacquisition of USD$700 million worth of shares over the course of the next 2 years.

Future Outlook for LITE

LITE is pleased to announce that its financial reports are within its guidance ranges, indicating strong growth and efficient profitability. With the display of adequate foresight in the deferral of revenues, the company is poised to leverage its resources to usher in significant and sustained increases in shareholder value.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Tyme Technologies, Inc. (TYME) Stock Trends downwards Following Strong Q4 2021 Financials and Progress in OASIS Trial

Tyme Technologies, Inc. (TYME) stock prices was down by -6.92% shortly after market trading commenced on June 11th, 2021, bringing the price per share...

Prophase Labs Inc. (PRPH) stock surged during pre-market trading session. Let’s figure out why?

Prophase Labs Inc. (NASDAQ: PRPH) stock soared by 5.87% at last close as well as the PRPH stock price has been observed rising by...

Why Surgalign Holdings, Inc. (SRGA) stock is gloomy today?

Surgalign Holdings, Inc. (SRGA) stock announced the $50 million registered direct offering priced at the market under Nasdaq rules today on June 10, 2021,...

Exela Technologies Inc. (XELA) stock soars during pre-market. Here’s what you should know?

Exela Technologies Inc. (NASDAQ: XELA) stock gained by 8.28% at last close while the XELA stock price rises in the pre-market as well, by...

Atossa Therapeutics, Inc. (ATOS) stock gains during pre-market trading. Here’s to know why?

Atossa Therapeutics, Inc. (NASDAQ: ATOS) stock declined by 27.51% at the last close while the ATOS stock price rises further by 9.09% in the...

Magnachip Semiconductor Corporation (MX) stock is Popping High today: Why is it so?

Shares of the Magnachip Semiconductor Corporation (MX) stock were popping high after the announcement of its receival of unsolicited buyout bid from Cornucopia Investment...

Why is Autolus Therapeutics plc (AUTL) stock rising today?

Shares of  Autolus Therapeutics plc (AUTL) stock were rising today on June 11, 2021, following the release of the presentation data related to obe-cel...

Mustang Bio, Inc. (MBIO) stock is climbing today: Here is to know why.

Mustang Bio, Inc. (MBIO) stock announced the updated interim data from Phase 1/2 clinical trial of its MB-106 CD20-targeted, autologous CAR T today on...

Related News

Lucira Health Inc. (NASDAQ:LHDX) stock rallied today in the current trading session; here’s why

In the current trading session at last check, Lucira Health Inc. (LHDX) shares had surged by 15.32% to the price of $5.87. LHDX's stock...

Comstock Mining Inc. (NASDAQ:LODE) stock plunged in the current trading session; here’s why

In the current trading session at the last check, Comstock Mining Inc. (LODE) stock had plunged -3.25% to trade at $3.21. LODE stock previously...

Greenpro Capital Corp. (GRNQ) Stock Price Is Rising Immensely, Here is What You Need to Know

Greenpro Capital Corp. (NASDAQ: GRNQ) a leading company primarily focused on the provision of cloud system resolution, financial consulting services, and corporate accounting services,...

Tilray Inc. (NASDAQ: TLRY) stock rises during current market trading. What is driving it high?

Tilray Inc. (NASDAQ: TLRY) stock gains by 17.17% in the current market trading. Tilray is a world leader in cannabis and cannabinoid research, cultivation,...

Regional Health Properties, Inc. (RHE) Stock Skyrockets Following Trading of Exponential Volume of Shares

Regional Health Properties, Inc. (RHE) stock prices soared by 31.4% during early market hours on May 7th 2021, bringing the price per share up...


Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

We do not sell or share your information with anyone.

Get Notified Of Insider Trades, Analyst Upgrades & Downgrades, Earnings Updates & Best Stocks To Trade Every Single Morning

100% free. stop anytime no spam