Perigon Wealth Management LLC Takes Position in Lumentum Holdings Inc. $LITE

Key Points

• Perigon Wealth Management initiated a position in Lumentum, buying 1,172 shares valued at approximately $1.005 million. Institutional investors collectively own 94.05% of the company.
• Lumentum reported stronger-than-expected quarterly results, with EPS of $3.23 versus the $2.97 consensus and revenue of $1.01 billion, up 109.3% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $1,044.67.
• The stock recently fell nearly 10% amid broader concerns about AI hardware demand and elevated valuation. Recent insider sales were conducted under pre-arranged trading plans, including sales to cover tax obligations.

Perigon Wealth Management LLC bought a new stake in shares of Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,172 shares of the technology company's stock, valued at approximately $1,005,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Nomura Asset Management Co. Ltd. grew its stake in Lumentum by 45.0% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 369,804 shares of the technology company's stock worth $136,306,000 after buying an additional 114,714 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Lumentum in the first quarter worth $2,046,000. Styrax Capital LP lifted its stake in Lumentum by 3.6% in the first quarter. Styrax Capital LP now owns 140,000 shares of the technology company's stock valued at $98,386,000 after buying an additional 4,837 shares during the last quarter. Whittier Trust Co. lifted its stake in Lumentum by 21,806.5% in the first quarter. Whittier Trust Co. now owns 74,044 shares of the technology company's stock valued at $57,183,000 after buying an additional 73,706 shares during the last quarter. Finally, Andar Capital Management HK Ltd acquired a new position in shares of Lumentum during the fourth quarter valued at $4,325,000. Institutional investors own 94.05% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho upped their target price on shares of Lumentum from $1,100.00 to $1,140.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 12th. TD Cowen lifted their price target on Lumentum from $800.00 to $820.00 and gave the company a "hold" rating in a report on Wednesday, August 12th. JPMorgan Chase & Co. boosted their price objective on Lumentum from $1,165.00 to $1,280.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 12th. Bank of America decreased their price objective on Lumentum from $1,100.00 to $1,000.00 and set a "neutral" rating for the company in a report on Wednesday, August 12th. Finally, Citic Securities raised their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,044.67.

Lumentum Trading Down 9.9%

Lumentum stock opened at $873.31 on Wednesday. The firm has a market cap of $67.94 billion, a price-to-earnings ratio of -10.62 and a beta of 1.50. Lumentum Holdings Inc. has a 1 year low of $111.20 and a 1 year high of $1,085.68. The firm's 50 day moving average price is $811.58 and its two-hundred day moving average price is $783.10. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.40 and a current ratio of 1.68.

Lumentum (NASDAQ:LITE - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The technology company reported $3.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.26. Lumentum had a positive return on equity of 26.34% and a negative net margin of 230.15%.The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $987.70 million. During the same quarter in the previous year, the company earned $0.88 EPS. The business's revenue for the quarter was up 109.3% compared to the same quarter last year. Lumentum has set its Q1 2027 guidance at 4.050-4.350 EPS. On average, research analysts predict that Lumentum Holdings Inc. will post 16.97 EPS for the current fiscal year.

Insider Activity at Lumentum

In related news, insider Vincent Retort sold 3,183 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $909.43, for a total value of $2,894,715.69. Following the completion of the sale, the insider owned 114,495 shares of the company's stock, valued at approximately $104,125,187.85. The trade was a 2.70% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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, Director Isaac Hosojiro Harris sold 1,416 shares of the stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $1,000.08, for a total transaction of $1,416,113.28. Following the transaction, the director owned 6,984 shares in the company, valued at approximately $6,984,558.72. This trade represents a 16.86% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 14,919 shares of company stock valued at $13,293,529 over the last ninety days. 0.43% of the stock is owned by company insiders.

Key Lumentum News

Here are the key news stories impacting Lumentum this week:

• Positive Sentiment: AI-driven growth remains the bullish case. Lumentum’s exposure to optical components used in AI data-center networks, along with expectations for rising margins and stronger fiscal 2027 earnings, continues to support the long-term growth narrative. Lumentum Stock Is Overvalued at 11.4X P/S: Should You Still Buy It?
• Positive Sentiment: Broker sentiment remains constructive. Analysts collectively assign Lumentum an average “Moderate Buy” rating, providing ongoing support despite the recent volatility. Lumentum Receives Average Rating of Moderate Buy
• Neutral Sentiment: Valuation is a central debate. At approximately 11.4 times sales, Lumentum trades at a demanding multiple after substantial multi-year gains. While a discounted-cash-flow analysis indicates potential upside, market-based valuation measures suggest the stock may already reflect considerable optimism. Lumentum Stock Looks Fully Priced Despite Cash Flow Upside
• Negative Sentiment: Risk aversion is weighing on optics stocks. Reports concerning Anthropic and a Wall Street Journal article have triggered a selloff across AI hardware names, with Lumentum among the affected optics companies. The move indicates investors are taking profits and questioning near-term AI spending or demand expectations. Optics Stocks Drop on Anthropic News
• Negative Sentiment: The recent rally has increased downside sensitivity. Lumentum had rallied alongside Coherent and AXT after indium phosphide price hikes, but the reversal shows how quickly sentiment can change when sector-wide AI concerns emerge. Optics Stocks Rally on Indium Phosphide Price Hikes

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.

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