Peregrine Capital Management LLC Has $9.70 Million Stake in Lumentum Holdings Inc. (NASDAQ:LITE)

Peregrine Capital Management LLC reduced its position in Lumentum Holdings Inc. (NASDAQ:LITE - Free Report) by 17.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 115,583 shares of the technology company's stock after selling 24,011 shares during the period. Peregrine Capital Management LLC owned about 0.17% of Lumentum worth $9,703,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in LITE. Creative Planning grew its position in Lumentum by 36.0% during the 3rd quarter. Creative Planning now owns 6,914 shares of the technology company's stock worth $438,000 after purchasing an additional 1,831 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new stake in shares of Lumentum in the third quarter worth $259,000. Signaturefd LLC grew its holdings in shares of Lumentum by 13.8% during the third quarter. Signaturefd LLC now owns 1,302 shares of the technology company's stock valued at $83,000 after buying an additional 158 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in Lumentum during the third quarter valued at $1,632,000. Finally, International Assets Investment Management LLC lifted its stake in Lumentum by 6,238.0% in the 3rd quarter. International Assets Investment Management LLC now owns 21,169 shares of the technology company's stock worth $1,342,000 after acquiring an additional 20,835 shares in the last quarter. Institutional investors and hedge funds own 94.05% of the company's stock.

Insider Buying and Selling at Lumentum

In other Lumentum news, CFO Wajid Ali sold 2,172 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $78.34, for a total value of $170,154.48. Following the sale, the chief financial officer now owns 51,976 shares of the company's stock, valued at $4,071,799.84. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Vincent Retort sold 41,710 shares of the firm's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $89.52, for a total transaction of $3,733,879.20. Following the transaction, the insider now directly owns 147,515 shares of the company's stock, valued at $13,205,542.80. The trade was a 22.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,769 shares of company stock valued at $6,446,222 in the last quarter. Corporate insiders own 0.19% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LITE. Barclays raised Lumentum from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $80.00 to $125.00 in a research note on Friday, January 17th. Stifel Nicolaus raised their price target on shares of Lumentum from $95.00 to $105.00 and gave the stock a "buy" rating in a report on Friday, February 7th. UBS Group upped their price objective on shares of Lumentum from $93.00 to $96.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Northland Securities lifted their target price on shares of Lumentum from $60.00 to $70.00 and gave the company a "market perform" rating in a research note on Friday, February 7th. Finally, Raymond James boosted their price target on shares of Lumentum from $94.00 to $96.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Lumentum has a consensus rating of "Hold" and an average price target of $88.07.

Lumentum Stock Performance

NASDAQ:LITE traded down $2.99 during trading hours on Friday, hitting $73.35. 1,987,567 shares of the company traded hands, compared to its average volume of 2,403,295. The company has a current ratio of 4.76, a quick ratio of 3.60 and a debt-to-equity ratio of 2.94. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -9.54 and a beta of 0.94. The firm has a 50-day moving average of $85.22 and a 200 day moving average of $73.46. Lumentum Holdings Inc. has a twelve month low of $38.28 and a twelve month high of $104.00.

Lumentum (NASDAQ:LITE - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The technology company reported ($0.14) EPS for the quarter, missing analysts' consensus estimates of $0.27 by ($0.41). Lumentum had a negative net margin of 36.98% and a negative return on equity of 7.25%. On average, analysts forecast that Lumentum Holdings Inc. will post 0.03 EPS for the current year.

About Lumentum

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.