Peregrine Investment Management Inc. Sells 24,510 Shares of Lumentum Holdings Inc. $LITE

Peregrine Investment Management Inc. lessened its position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 35.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,190 shares of the technology company’s stock after selling 24,510 shares during the quarter. Lumentum comprises about 3.6% of Peregrine Investment Management Inc.’s investment portfolio, making the stock its 14th largest position. Peregrine Investment Management Inc.’s holdings in Lumentum were worth $7,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Lumentum during the 2nd quarter valued at about $38,000. MAI Capital Management boosted its stake in Lumentum by 27.0% in the second quarter. MAI Capital Management now owns 452 shares of the technology company’s stock valued at $43,000 after acquiring an additional 96 shares during the last quarter. Steigerwald Gordon & Koch Inc. acquired a new stake in Lumentum during the 3rd quarter worth $49,000. Cullen Frost Bankers Inc. bought a new stake in shares of Lumentum during the 3rd quarter valued at $49,000. Finally, Advisors Asset Management Inc. raised its position in shares of Lumentum by 36.8% during the 1st quarter. Advisors Asset Management Inc. now owns 945 shares of the technology company’s stock valued at $59,000 after acquiring an additional 254 shares during the last quarter. 94.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LITE. UBS Group boosted their target price on Lumentum from $215.00 to $455.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 4th. JPMorgan Chase & Co. upped their price objective on shares of Lumentum to $565.00 and gave the company an “overweight” rating in a research report on Wednesday, February 4th. Stifel Nicolaus lifted their target price on Lumentum to $480.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Susquehanna boosted their target price on Lumentum to $550.00 and gave the company a “positive” rating in a research note on Wednesday, February 4th. Finally, Raymond James Financial lowered Lumentum from a “strong-buy” rating to an “outperform” rating and set a $220.00 price target on the stock. in a research report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $444.94.

Insider Buying and Selling at Lumentum

In related news, insider Yuen Wupen sold 822 shares of the firm’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $258.96, for a total value of $212,865.12. Following the completion of the transaction, the insider owned 95,077 shares of the company’s stock, valued at approximately $24,621,139.92. This trade represents a 0.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pamela Fletcher sold 3,421 shares of the business’s stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $273.53, for a total transaction of $935,746.13. Following the sale, the director directly owned 10,561 shares in the company, valued at $2,888,750.33. This trade represents a 24.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 12,029 shares of company stock worth $4,444,022. Company insiders own 0.43% of the company’s stock.

Lumentum Stock Performance

LITE opened at $583.46 on Friday. The company has a market capitalization of $41.66 billion, a price-to-earnings ratio of 178.98 and a beta of 1.51. The business’s 50-day moving average price is $388.56 and its two-hundred day moving average price is $250.64. Lumentum Holdings Inc. has a 1 year low of $45.65 and a 1 year high of $603.83. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.61 and a quick ratio of 0.45.

Lumentum (NASDAQ:LITE) last posted its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.41 by $0.26. The business had revenue of $665.50 million during the quarter, compared to the consensus estimate of $646.74 million. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.Lumentum’s quarterly revenue was up 65.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Equities analysts expect that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Lumentum Profile

Lumentum Holdings Inc, headquartered in San Jose, California, is a leading provider of photonic technologies that enable high-speed optical communication networks and advanced industrial applications. The company designs and manufactures a broad range of lasers, optical modules and subsystems tailored to the evolving requirements of telecommunications carriers, cloud data centers and enterprise networking.

Its core product portfolio includes tunable and fixed-wavelength laser transmitters, coherent optical engines, transceivers for long-haul, metro and data center interconnects, as well as test and measurement instruments.