Welcome to our dedicated page for Lumentum Holdings news (Ticker: LITE), a resource for investors and traders seeking the latest updates and insights on Lumentum Holdings stock.
Lumentum Holdings Inc. (NASDAQ: LITE) is a leading manufacturer of innovative optical and photonic products, catering to both optical networking and commercial laser customers globally. Headquartered in Milpitas, California, with R&D, manufacturing, and sales offices worldwide, Lumentum is at the forefront of the technology sector.
Lumentum's business is divided into two key segments: Optical Communications (OpComms) and Commercial Lasers. The OpComms segment is responsible for the majority of the company's revenue, offering a wide array of components, modules, and subsystems that are essential for telecom, enterprise, and data center networks. These products support carrier networks for access, metro, long-haul, and submarine applications.
In the Commercial Lasers segment, Lumentum's innovative lasers are used in advanced manufacturing, inspection processes, and life-science labs. The company's commercial lasers are also pivotal in the development of next-generation 3D sensing capabilities, enhancing consumer electronics and various industrial applications.
Lumentum has recently been expanding into new optical applications, notably with its 3-D sensing laser diodes for consumer electronics. Its commitment to innovation and quality has positioned it as a market leader, providing critical technology that supports the infrastructure of modern communication and advanced manufacturing.
For more detailed information on Lumentum Holdings Inc. and the latest updates, visit their official website at www.lumentum.com.
Lumentum Holdings announced its participation in the Optical Fiber Communication Conference from June 7 to 11, 2021. The company will showcase innovations in telecom, 5G, cable, and data center networks, featuring products like high-performance 400G CFP2-DCO coherent transmission modules and 100G PAM4 DML lasers. These advancements focus on improving data center interconnects and enhancing capabilities for next-generation networks. Lumentum's TrueFlex solutions will also be highlighted, catering to the needs of modern optical networks.
Lumentum Holdings reported fiscal Q3 2021 results, with net revenue of $419.5 million, a 12.4% decrease from the prior quarter but a 4.1% increase year-over-year. GAAP net income was $225.5 million or $2.85 per diluted share. The company highlighted a cash balance of $2,054.6 million, up $354.3 million quarter-over-quarter. Despite deferring $14.8 million in revenue due to 5G deployment delays in China, Lumentum's gross margin improved by 490bps year-over-year. For Q4, guidance estimates net revenue between $360 million to $400 million.
Lumentum Holdings announced its participation in several upcoming virtual investor events. Key events include the J.P. Morgan 49th Annual Global Technology, Media and Communications Conference on May 25, 2021, and the Craig Hallum 18th Annual Institutional Investor Conference on June 2, 2021. Each event provides a platform for management to engage with investors. A webcast of each presentation will be available on Lumentum's investor relations website. Lumentum is a leader in optical technologies, traded on NASDAQ under the symbol LITE.
Lumentum Holdings will announce its fiscal third quarter 2021 financial results on May 12, 2021, before market opening. The results pertain to the period ended April 3, 2021. A conference call is scheduled for the same day at 5:30 a.m. PT / 8:30 a.m. ET, and will be accessible via webcast on the company's investor site. A replay will be available from May 12 to May 19, 2021. Lumentum specializes in optical and photonic products for telecom and manufacturing applications, reinforcing its position in the market.
Coherent, Inc. has accepted an acquisition proposal from II-VI Incorporated, deemed a "Company Superior Proposal" over Lumentum Holdings. Coherent's board evaluated both proposals and opted to terminate the merger agreement with Lumentum, incurring a $217.6 million termination fee. Under the new agreement with II-VI, each Coherent share will convert to $220 in cash and 0.91 shares of II-VI stock. The deal awaits stockholder and regulatory approval, with closing expected in Q4 2021.
Lumentum Holdings Inc. announced the termination of its merger agreement with Coherent, Inc., which requires Coherent to pay a $217.6 million termination fee. Coherent's Board opted for an inferior offer from II-VI Incorporated, whose proposal was valued at $281.21, compared to Lumentum's superior bid worth $283.12. Lumentum's offer included $230 in cash and stock, while II-VI's consisted of $220 in cash and shares. The news emphasizes Lumentum's commitment to pursuing strategic acquisitions amid competitive offers.
Lumentum Holdings Inc. (LITE) announced recognition for its 100G PAM4 uncooled electro-absorption modulated lasers in the 2021 Lightwave Innovation Reviews. This honor highlights the lasers' high performance and low power consumption, crucial for next-generation hyperscale data centers. The company aims to support digital transformation while minimizing climate impact. Senior VP Walter Jankovic emphasized the significance of their first-to-market EML chips in enabling efficient data transmission. Lumentum's innovations continue to lead the optical communications sector.
Lumentum Holdings has presented a revised acquisition proposal for Coherent involving $230.00 per share in cash and 0.6724 shares of Lumentum stock, totaling approximately $287.50 per Coherent share. The proposal remains open until March 24, 2021. Lumentum plans to finance the cash component through available cash, a new $3.25 billion debt facility, and a $1 billion equity investment from Silver Lake. The acquisition awaits stockholder and regulatory approvals, aiming for closure in H2 2021.
On March 23, 2021, Coherent announced a new acquisition proposal from Lumentum, offering $230 in cash and 0.6724 shares of Lumentum per share of Coherent. This proposal follows II-VI's superior offer of $220 and 0.91 shares per Coherent share, received on March 17, 2021. Coherent's board will review Lumentum's offer against II-VI's. The transaction is subject to stockholder and regulatory approvals in China and South Korea. The Hart-Scott-Rodino waiting period has expired, but no assurance exists that Coherent will accept Lumentum's proposal.
Lumentum Holdings received notice from Coherent's Board that an acquisition proposal from II-VI is deemed a 'Company Superior Proposal' under their merger agreement from March 9, 2021. Coherent plans to terminate this agreement, which would incur a $217.6 million termination fee to Lumentum. Lumentum has until March 22, 2021, to amend or waive its rights concerning the proposal. Despite this situation, Lumentum's Board continues to recommend the merger with Coherent.
FAQ
What is the current stock price of Lumentum Holdings (LITE)?
What is the market cap of Lumentum Holdings (LITE)?
What does Lumentum Holdings Inc. specialize in?
Where is Lumentum Holdings Inc. headquartered?
What are the main segments of Lumentum's business?
What products are included in the OpComms segment?
What applications do Lumentum's commercial lasers support?
How does Lumentum generate most of its revenue?
Is Lumentum expanding into new markets?
What makes Lumentum a market leader?
Where can I find more information about Lumentum?
What industries benefit from Lumentum's products?
