Lumentum Hldgs Inc Stock Price, News & Analysis

Lumentum Holdings Inc. (NASDAQ: LITE) showcased its innovative optical communication solutions at the 2023 Optical Fiber Communication Conference in San Diego, March 5-9, 2023. The company highlighted its expertise in photonics and introduced new products, including the TrueFlex® Micro Twin Wavelength Selective Switch (WSS) and the latest ROADM Node-on-a-Blade. Lumentum's 200G PAM4 Externally Modulated Lasers (EMLs) received the 2023 Lightwave Innovation Award. The company also demonstrated its vision for the future of fiber optic communications, emphasizing Carrier and Spatial Division Multiplexing (CSDM) as key to scaling data capacity.

On February 28, 2023, the Open XR Forum announced new members, including Hisense Broadband, KDDI, Lumentum (NASDAQ: LITE), and Viettel, to enhance software-configurable optical networks. These members contribute expertise to advance XR optics pluggable transceiver technology, driving interoperable solutions for high-bandwidth optical transport. The Forum aims to optimize 5G networks and improve cost-efficiency for operators. Tomohiro Otani of KDDI emphasized the potential for accelerated 5G deployment, while Lumentum's Wupen Yuen noted that XR optics could transform the market dynamics of coherent optical components.

Lumentum Holdings Inc. has appointed Pamela Fletcher as an independent member of its Board of Directors, expanding the board to nine members, eight of whom are independent. Fletcher, with over 30 years of experience in the automotive and transportation sectors, is currently the Chief Sustainability Officer at Delta Air Lines. Her expertise in sustainability and innovation is expected to benefit Lumentum's growth strategies in photonic solutions, particularly in cloud computing and advanced manufacturing. CEO Alan Lowe expressed confidence that Fletcher will enhance shareholder value as they capitalize on emerging trends.

Lumentum Holdings Inc. (NASDAQ: LITE) has announced its participation in key investor events. The company will present at the Morgan Stanley Technology, Media & Telecom Conference on March 9, 2023, at 8:35 a.m. Pacific Time. A webcast will be available here.

Additionally, Lumentum will take part in the Loop Capital Virtual Investor Conference on March 13, 2023, from 7:00 a.m. to 10:00 a.m. Eastern Time. Institutional investors are encouraged to contact their representatives for participation details.

Lumentum Holdings has received recognition for its 200G PAM4 externally-modulated lasers (EMLs) in the 2023 Lightwave Innovation Reviews, scoring 4.5 out of 5 in the optical components category. This marks the second industry acknowledgment for these EMLs, following an award from the European Conference on Optical Communication in 2022. The lasers are designed to help hyperscale data center operators scale up to 800G and 1.6T data rates. According to Nicolas Herriau, the team at Lumentum has significantly advanced performance and quality in the optical communications sector, further cements Lumentum's status as a leading innovator in optical and photonic products.

Lumentum Holdings reported strong fiscal Q2 2023 results, with net revenue of $506.0 million, a 13.3% increase year-over-year. The company achieved a GAAP gross margin of 32.8% and a non-GAAP gross margin of 44.9%. Despite a GAAP operating loss of $4.3 million, non-GAAP operating margin stood at 23.1%. Non-GAAP diluted earnings per share were $1.52, exceeding guidance. The company holds total cash and equivalents of $1,680.4 million, up $55.5 million from the previous quarter. For fiscal Q3 2023, Lumentum expects revenue between $430 million and $460 million and a non-GAAP operating margin of 17% to 19%.

Lumentum Holdings Inc. (NASDAQ: LITE) will host its LITE 2023: Lumentum Investor Technology Event during the 2023 Optical Fiber Communication Conference and Exhibition (OFC). Scheduled for March 7, 2023, from 7:00 – 9:45 a.m. Pacific Time, the event will take place at the Hard Rock Hotel San Diego, in the Celebrate Ballroom. Participants are encouraged to register online. A live webcast and presentation deck will also be available at Lumentum's investor website.

Lumentum Holdings Inc. (LITE) announced its fiscal second quarter 2023 financial results will be released on February 9, 2023, before market opens.

A conference call is scheduled for the same day at 5:30 a.m. PT/8:30 a.m. ET, with a live webcast available on the company's website.

Participants are encouraged to pre-register to receive unique dial-in information. A replay of the call will be accessible via telephone starting from February 9, 2023, through February 16, 2023.

For more information, visit the investor relations page.