Peregrine Capital Management LLC Sells 30,237 Shares of Lumentum Holdings Inc. $LITE

Key Points

• Peregrine Capital cut its stake in Lumentum (NASDAQ:LITE) by 45.6% in Q4, selling 30,237 shares and now holding 36,024 shares worth about $13.28 million (~0.05% of the company).
• Company insiders have been sellers as well — Director Penny Herscher and CFO Wajid Ali sold shares recently, and insiders disposed of 65,775 shares valued at roughly $38.85 million in the last quarter, leaving insiders with about 0.43% ownership.
• Despite the selling, analysts lifted targets and the company reported strong results (Q EPS $1.67 vs. $1.41 estimate; revenue +65.5% year-over-year), management says demand is strong through 2027 for AI optics, and the consensus rating is a Moderate Buy with an average target of $757.25 (some targets up to $1,100).

Peregrine Capital Management LLC lowered its stake in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 45.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 36,024 shares of the technology company's stock after selling 30,237 shares during the period. Peregrine Capital Management LLC owned approximately 0.05% of Lumentum worth $13,278,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Lumentum by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 7,485,282 shares of the technology company's stock valued at $1,217,930,000 after purchasing an additional 41,975 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lumentum by 8,579.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,563,210 shares of the technology company's stock worth $254,350,000 after purchasing an additional 1,545,199 shares during the last quarter. Alliancebernstein L.P. increased its position in Lumentum by 4.4% in the 3rd quarter. Alliancebernstein L.P. now owns 1,085,119 shares of the technology company's stock valued at $176,560,000 after acquiring an additional 45,953 shares during the period. Assenagon Asset Management S.A. increased its holdings in Lumentum by 707.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 994,478 shares of the technology company's stock valued at $366,555,000 after purchasing an additional 871,249 shares during the period. Finally, Holocene Advisors LP acquired a new stake in shares of Lumentum in the third quarter valued at about $136,401,000. 94.05% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Penny Herscher sold 4,849 shares of the stock in a transaction on Friday, February 6th. The stock was sold at an average price of $535.48, for a total value of $2,596,542.52. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Wajid Ali sold 5,302 shares of the business's stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $691.13, for a total value of $3,664,371.26. Following the transaction, the chief financial officer owned 66,287 shares of the company's stock, valued at approximately $45,812,934.31. The trade was a 7.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 65,775 shares of company stock valued at $38,851,343 in the last quarter. 0.43% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on LITE shares. Rosenblatt Securities reissued a "buy" rating and set a $900.00 target price on shares of Lumentum in a research note on Wednesday, March 18th. Bank of America upped their target price on Lumentum to $520.00 and gave the stock a "neutral" rating in a research report on Wednesday, February 4th. TD Cowen raised their price target on shares of Lumentum from $675.00 to $875.00 and gave the company a "hold" rating in a research report on Friday, April 10th. Barclays lifted their price objective on shares of Lumentum to $750.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 3rd. Finally, Citigroup boosted their target price on Lumentum from $800.00 to $1,100.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $757.25.

Lumentum Stock Performance

LITE traded down $7.22 on Thursday, hitting $866.38. The company's stock had a trading volume of 829,939 shares, compared to its average volume of 5,900,335. Lumentum Holdings Inc. has a 12 month low of $55.00 and a 12 month high of $960.00. The company's 50 day simple moving average is $728.12 and its 200-day simple moving average is $454.81. The company has a quick ratio of 0.45, a current ratio of 0.61 and a debt-to-equity ratio of 0.06. The firm has a market cap of $61.86 billion, a P/E ratio of 265.46 and a beta of 1.38.

Lumentum (NASDAQ:LITE - Get Free Report) last released its quarterly earnings data on Tuesday, February 3rd. The technology company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.26. Lumentum had a return on equity of 17.27% and a net margin of 11.95%.The company had revenue of $665.50 million for the quarter, compared to analyst estimates of $646.74 million. During the same period in the previous year, the company posted $0.42 EPS. The firm's revenue for the quarter was up 65.5% compared to the same quarter last year. Lumentum has set its Q3 2026 guidance at 2.150-2.350 EPS. Analysts forecast that Lumentum Holdings Inc. will post 5.87 EPS for the current year.

Lumentum News Roundup

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: Multiple major firms pushed up price targets and maintained buy ratings, signaling stronger Street conviction in LITE’s growth outlook — notable moves include Citigroup, Needham, Susquehanna and Morgan Stanley. These raises reflect higher revenue/earnings expectations tied to AI optics demand. MarketScreener Citi PT Needham PT Susquehanna PT
• Positive Sentiment: Northland Securities sharply raised FY2027 EPS forecasts (to $14.59 from $10.69) and issued higher quarterly EPS estimates — this materially lifts forward earnings expectations and supports a more bullish valuation trajectory.
• Positive Sentiment: Company commentary and coverage highlight AI optics and large customer commitments (including Nvidia-related demand), capacity expansion and index attention — a structural demand story that underpins revenue visibility through 2027. Yahoo Finance AI optics Zacks AI networking
• Positive Sentiment: Management has said the company is effectively “sold out” through 2027 due to surging demand — this reduces near‑term execution risk and supports higher throughput/revenue assumptions. Yahoo Sold Out
• Negative Sentiment: Tradr launched a Cboe‑listed 2x inverse ETF on Lumentum (LITZ) that delivers -200% of daily LITE performance — this product makes highly leveraged short exposure directly tradable, which can amplify downward pressure, increase volatility and enable larger, faster short flows. BusinessWire Tradr short ETF

About Lumentum

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.

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