Perseverance Asset Management International Makes New Investment in Lumentum Holdings Inc. $LITE

Perseverance Asset Management International acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the 1st quarter, HoldingsChannel reports. The fund acquired 25,000 shares of the technology company’s stock, valued at approximately $17,569,000. Lumentum comprises approximately 1.9% of Perseverance Asset Management International’s holdings, making the stock its 12th biggest position.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in Lumentum by 18.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,854,801 shares of the technology company’s stock worth $683,661,000 after purchasing an additional 291,591 shares during the last quarter. Geode Capital Management LLC increased its stake in Lumentum by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 1,412,213 shares of the technology company’s stock valued at $521,563,000 after purchasing an additional 123,265 shares during the last quarter. Situational Awareness LP increased its stake in Lumentum by 210.9% in the fourth quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock valued at $478,577,000 after purchasing an additional 880,800 shares during the last quarter. Norges Bank acquired a new stake in Lumentum during the fourth quarter worth approximately $474,495,000. Finally, Value Aligned Research Advisors LLC acquired a new stake in Lumentum during the fourth quarter worth approximately $432,062,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Lumentum Price Performance

Shares of NASDAQ LITE opened at $833.64 on Friday. The stock has a market cap of $64.86 billion, a P/E ratio of 154.38 and a beta of 1.48. Lumentum Holdings Inc. has a twelve month low of $101.22 and a twelve month high of $1,085.68. The stock has a 50 day moving average of $848.84 and a two-hundred day moving average of $725.62. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.01.

Lumentum (NASDAQ:LITE) last announced its earnings results on Tuesday, May 5th. The technology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.27 by $0.10. The business had revenue of $808.40 million for the quarter, compared to analyst estimates of $810.21 million. Lumentum had a net margin of 17.61% and a return on equity of 24.81%. The company’s revenue for the quarter was up 90.1% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. Lumentum has set its Q4 2026 guidance at 2.850-3.050 EPS. On average, research analysts forecast that Lumentum Holdings Inc. will post 6.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LITE. TD Cowen lowered their target price on shares of Lumentum from $995.00 to $800.00 and set a “hold” rating for the company in a report on Monday, July 13th. Rosenblatt Securities lifted their price target on shares of Lumentum from $900.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Wednesday, May 6th. Loop Capital boosted their price target on shares of Lumentum from $900.00 to $1,400.00 and gave the company a “buy” rating in a research report on Tuesday, May 5th. UBS Group upped their price objective on shares of Lumentum from $455.00 to $960.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Finally, Craig Hallum raised their price objective on Lumentum from $900.00 to $1,150.00 in a report on Wednesday, May 6th. Fourteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, Lumentum presently has a consensus rating of “Moderate Buy” and an average target price of $1,012.67.

Insider Activity

In other Lumentum news, insider Vincent Retort sold 3,183 shares of Lumentum stock in a transaction on Monday, May 18th. The shares were sold at an average price of $953.95, for a total value of $3,036,422.85. Following the transaction, the insider directly owned 89,563 shares in the company, valued at approximately $85,438,623.85. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Wajid Ali sold 2,487 shares of the company’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $2,372,473.65. Following the completion of the sale, the chief financial officer directly owned 60,951 shares of the company’s stock, valued at $58,144,206.45. The trade was a 3.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 41,260 shares of company stock worth $38,859,220 over the last 90 days. 0.43% of the stock is owned by corporate insiders.

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.