Pinnacle Associates Trims Lumentum Holdings Stake

Institutional investor reduces position in tech company by over 22%

Published on Mar. 9, 2026

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Pinnacle Associates Ltd., an institutional investor, has reduced its stake in Lumentum Holdings Inc. (NASDAQ:LITE) by 22.4% during the third quarter, according to a filing with the Securities and Exchange Commission. The firm now owns 193,445 shares of the technology company's stock, valued at $31,475,000.

Why it matters

Lumentum is a leading provider of photonic technologies for high-speed optical communication networks and industrial applications. Institutional investors closely monitor and adjust their positions in companies like Lumentum, which can provide insights into market sentiment and the stock's performance.

The details

Pinnacle Associates sold 55,826 shares of Lumentum during the third quarter, reducing its overall position in the company. The firm now owns a 0.27% stake in Lumentum, down from 0.35% previously. Lumentum's stock has seen significant volatility in recent months, with shares trading between $45.65 and $783.80 over the past year.

  • Pinnacle Associates reduced its Lumentum stake during the third quarter of the year.

The players

Pinnacle Associates Ltd.

An institutional investor that manages a portfolio of stocks and other assets.

Lumentum Holdings Inc.

A leading provider of photonic technologies for high-speed optical communication networks and industrial applications.

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The takeaway

The reduction in Pinnacle Associates' Lumentum stake suggests the firm may have concerns about the stock's performance or the broader market conditions. However, Lumentum remains a key player in the photonics and optical communications industries, and its stock continues to be closely watched by institutional investors.