Perseverance Asset Management International Invests $17.57 Million in Lumentum Holdings Inc. $LITE

Perseverance Asset Management International acquired a new position in shares of Lumentum Holdings Inc. (NASDAQ:LITE) in the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 25,000 shares of the technology company’s stock, valued at approximately $17,569,000. Lumentum accounts for approximately 1.9% of Perseverance Asset Management International’s investment portfolio, making the stock its 12th largest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership boosted its position 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 buying an additional 1,545,199 shares during the period. Norges Bank purchased a new stake in shares of Lumentum in the 4th quarter valued at $474,495,000. Value Aligned Research Advisors LLC purchased a new stake in shares of Lumentum in the 4th quarter valued at $432,062,000. Situational Awareness LP lifted its stake in Lumentum by 210.9% during the 4th quarter. Situational Awareness LP now owns 1,298,400 shares of the technology company’s stock worth $478,577,000 after acquiring an additional 880,800 shares in the last quarter. Finally, Aspex Management HK Ltd acquired a new position in Lumentum during the 4th quarter worth about $251,363,000. Hedge funds and other institutional investors own 94.05% of the company’s stock.

Wall Street Analyst Weigh In

LITE has been the subject of several research reports. Citic Securities lifted their target price on Lumentum from $620.00 to $1,186.00 in a research report on Monday, May 11th. BNP Paribas Exane increased their price target on shares of Lumentum from $1,040.00 to $1,300.00 in a research report on Wednesday, May 6th. Craig Hallum raised their price objective on shares of Lumentum from $900.00 to $1,150.00 in a research note on Wednesday, May 6th. Zacks Research cut shares of Lumentum from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Rosenblatt Securities upped their target price 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. Fourteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,012.67.

Insider Activity

In related news, SVP Jae Kim sold 1,422 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $953.95, for a total transaction of $1,356,516.90. Following the sale, the senior vice president directly owned 32,333 shares in the company, valued at approximately $30,844,065.35. This represents a 4.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $58,144,206.45. This trade represents a 3.92% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last three months, insiders sold 41,260 shares of company stock valued at $38,859,220. 0.43% of the stock is owned by corporate insiders.

Lumentum Trading Up 0.5%

LITE opened at $833.64 on Friday. Lumentum Holdings Inc. has a 12 month low of $101.22 and a 12 month high of $1,085.68. The stock has a market capitalization of $64.86 billion, a price-to-earnings ratio of 154.38 and a beta of 1.48. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.14 and a quick ratio of 0.97. The business has a fifty day moving average price of $848.84 and a 200 day moving average price of $725.62.

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

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.