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

Peregrine Investment Management Inc. decreased its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE) by 35.2% in the 3rd quarter, according to the company in its most recent 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 approximately 3.6% of Peregrine Investment Management Inc.’s holdings, making the stock its 14th largest position. Peregrine Investment Management Inc. owned about 0.06% of Lumentum worth $7,353,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Advisors Asset Management Inc. lifted its holdings in shares of Lumentum by 592.6% during the third quarter. Advisors Asset Management Inc. now owns 7,778 shares of the technology company’s stock worth $1,266,000 after buying an additional 6,655 shares during the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Lumentum in the third quarter worth $1,121,000. Wesbanco Bank Inc. bought a new position in Lumentum during the third quarter worth $331,000. Profund Advisors LLC acquired a new position in Lumentum during the 3rd quarter valued at $261,000. Finally, Oppenheimer & Co. Inc. bought a new stake in Lumentum in the 3rd quarter valued at $515,000. Institutional investors and hedge funds own 94.05% of the company’s stock.

Lumentum Stock Up 1.6%

Shares of NASDAQ LITE opened at $583.46 on Friday. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $603.83. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.45 and a current ratio of 0.61. The business has a fifty day moving average of $388.56 and a two-hundred day moving average of $250.64. The stock has a market cap of $41.66 billion, a PE ratio of 178.98 and a beta of 1.51.

Lumentum (NASDAQ:LITE) last announced its earnings results 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. Lumentum had a net margin of 11.95% and a return on equity of 17.27%. The business had revenue of $665.50 million during the quarter, compared to analysts’ expectations of $646.74 million. During the same quarter last year, the company posted $0.42 EPS. The firm’s revenue for the quarter was up 65.5% on a year-over-year basis. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. As a group, equities research analysts expect that Lumentum Holdings Inc. will post 0.03 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Jae Kim sold 1,367 shares of Lumentum stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $234.14, for a total value of $320,069.38. Following the completion of the transaction, the senior vice president directly owned 38,570 shares of the company’s stock, valued at $9,030,779.80. The trade was a 3.42% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Penny Herscher sold 4,849 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $535.48, for a total transaction of $2,596,542.52. Following the transaction, the director owned 6,057 shares in the company, valued at approximately $3,243,402.36. This trade represents a 44.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 12,029 shares of company stock worth $4,444,022. 0.43% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LITE has been the topic of several research reports. B. Riley Securities upgraded shares of Lumentum from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $147.00 to $526.00 in a report on Wednesday, February 4th. Barclays boosted their price objective on Lumentum to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, February 5th. UBS Group raised 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. Mizuho boosted their price target on shares of Lumentum to $525.00 and gave the company an “outperform” rating in a report on Wednesday, February 4th. Finally, B.Riley Securit raised shares of Lumentum from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 4th. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $444.94.

Lumentum Company 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.