Lumentum HoldingsNASDAQ: LITE

SAN JOSE, Calif.--(BUSINESS WIRE)--Lumentum Holdings Inc. ("Lumentum"), a market-leading designer and manufacturer of innovative optical and photonic products, today announced publication of its fourth annual Fiscal 2024 Corporate Sustainability Report, showcasing the company's environmental, social, and governance achievements. Highlights from the report include: Planet – Continued Momentum and Expansion of Climate Change Initiatives Lumentum made notable advances over the past fiscal year tow.

I maintain a buy rating for Lumentum Holdings due to its positive growth potential and recent developments. LITE's 4Q24 performance and 1Q25 guidance suggest the first y/y growth after six consecutive quarters of decline, boosting confidence in future growth. Key developments include a new 800G transceiver deal with a major cloud provider and expanding EML manufacturing capacity to meet AI-driven demand.

Shares of Lumentum Holdings Inc (LITE, Financial) surged 5.20% in mid-day trading on Oct 2. The stock reached an intraday high of $64.82, before settling at $64.69, up from its previous close of $61.49.

Ecosystem Enables Cloud Operators to Optimally Scale Regional Data Center Connectivity  for the AI Era SANTA CLARA, Calif. , Sept. 5, 2024 /PRNewswire/ -- Marvell Technology, Inc. (NASDAQ: MRVL), a leader in data infrastructure semiconductor solutions, Lumentum Holdings Inc., a market-leading designer and manufacturer of innovative optical and photonic products, and Coherent Corp., a leader in compound semiconductors and high-speed optical networking technology today announced the successful interoperability demonstration of 800G ZR/ZR+ optical modules over transmission links up to 500km.

Investors hurried to buy back Lumentum stock after the company posted quarterly results. Lumentum Holdings saw a V-shaped rebound last week, with shares up 20% for the week. The company reported Q4 revenue and non-GAAP EPS that exceeded its guidance.

Lumentum Holdings Inc. LITE shares are trading higher after the company reported fourth-quarter results and several analysts raised the price target on the stock.

Optical-components maker Lumentum reported strong earnings for the quarter ended June. The company also provided upbeat guidance.

Lumentum Holdings Inc. (NASDAQ:LITE ) Q4 2024 Earnings Conference Call August 14, 2024 5:30 PM ET Company Participants Kathy Ta - Vice President, Investor Relations Alan Lowe - President & Chief Executive Officer Wajid Ali - Executive Vice President & Chief Financial Officer Chris Coldren - Senior Vice President, Chief Strategy & Corporate Development Officer Conference Call Participants Samik Chatterjee - JP Morgan Alex Henderson - Needham and Company Simon Leopold - Raymond James. George Notter - Jefferies Meta Marshall - Morgan Stanley Tom O'Malley - Barclays Ruben Roy - Stifel Vivek Arya - Bank of America Karl Ackerman - BMP Paribas Ananda Baruah - Loop Capital Tim Savageaux - Northland Capital Markets Richard Shannon - Craig-Hallum.

Lumentum (LITE) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of $0.03 per share. This compares to earnings of $0.59 per share a year ago.