Peregrine Investment Management Inc. Decreases Position in Lumentum Holdings Inc. $LITE

Key Points

• Peregrine Investment Management Inc. reduced its stake in Lumentum Holdings by 21.8% during the second quarter, bringing its total to 69,700 shares, which now accounts for about 4.2% of their portfolio.
• Despite the reduction in holdings by some investors, several other hedge funds increased their positions in Lumentum, with notable increases up to 10,626.4% by GAMMA Investing LLC in the first quarter.
• Equities analysts have mixed ratings for Lumentum, with two analysts rating it a Strong Buy and others issuing a downgrade, highlighting a consensus rating of "Moderate Buy" and a target price of $133.36.

Peregrine Investment Management Inc. lessened its holdings in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 21.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,700 shares of the technology company's stock after selling 19,470 shares during the period. Lumentum makes up about 4.2% of Peregrine Investment Management Inc.'s portfolio, making the stock its 11th biggest holding. Peregrine Investment Management Inc. owned about 0.10% of Lumentum worth $6,626,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in LITE. ProShare Advisors LLC purchased a new stake in shares of Lumentum during the 4th quarter valued at $270,000. CWC Advisors LLC. acquired a new position in shares of Lumentum in the 4th quarter valued at $201,000. California State Teachers Retirement System increased its position in shares of Lumentum by 0.4% in the 4th quarter. California State Teachers Retirement System now owns 64,170 shares of the technology company's stock valued at $5,387,000 after acquiring an additional 251 shares during the period. GAMMA Investing LLC increased its position in shares of Lumentum by 10,626.4% in the 1st quarter. GAMMA Investing LLC now owns 127,859 shares of the technology company's stock valued at $7,971,000 after acquiring an additional 126,667 shares during the period. Finally, UMB Bank n.a. increased its position in shares of Lumentum by 132.9% in the 1st quarter. UMB Bank n.a. now owns 785 shares of the technology company's stock valued at $49,000 after acquiring an additional 448 shares during the period. Hedge funds and other institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $145.00 target price (up from $135.00) on shares of Lumentum in a research report on Wednesday, August 13th. Rosenblatt Securities upped their target price on Lumentum from $150.00 to $225.00 and gave the company a "buy" rating in a research report on Monday. Wall Street Zen downgraded Lumentum from a "buy" rating to a "hold" rating in a research report on Monday, September 15th. Stifel Nicolaus upped their target price on Lumentum from $100.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, August 13th. Finally, KGI Securities assumed coverage on Lumentum in a research report on Monday, August 18th. They issued an "outperform" rating on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Lumentum currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.36.

Insider Transactions at Lumentum

In related news, insider Vincent Retort sold 22,719 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $110.00, for a total value of $2,499,090.00. Following the transaction, the insider directly owned 121,747 shares of the company's stock, valued at approximately $13,392,170. This trade represents a 15.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Wajid Ali sold 2,526 shares of the firm's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $124.39, for a total transaction of $314,209.14. Following the completion of the transaction, the chief financial officer directly owned 77,087 shares in the company, valued at $9,588,851.93. This represents a 3.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,687 shares of company stock worth $6,628,952 in the last three months. 0.19% of the stock is owned by corporate insiders.

Lumentum Trading Down 0.4%

LITE stock opened at $163.99 on Wednesday. The firm has a market cap of $11.46 billion, a P/E ratio of 713.00 and a beta of 1.42. Lumentum Holdings Inc. has a 52-week low of $45.65 and a 52-week high of $173.38. The company's 50-day simple moving average is $127.83 and its 200-day simple moving average is $91.51. The company has a quick ratio of 3.18, a current ratio of 4.37 and a debt-to-equity ratio of 2.26.

Lumentum (NASDAQ:LITE - Get Free Report) last issued its quarterly earnings results on Tuesday, August 12th. The technology company reported $0.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.09. The firm had revenue of $480.70 million for the quarter, compared to analyst estimates of $465.27 million. Lumentum had a net margin of 1.57% and a negative return on equity of 3.02%. Lumentum's quarterly revenue was up 55.9% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. Lumentum has set its Q1 2026 guidance at 0.950-1.100 EPS. As a group, equities analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current fiscal year.

Lumentum Company Profile

Lumentum Holdings Inc manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates through two segments: Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables.

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