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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.
Coherent, Inc. (NASDAQ: COHR) announced a revised merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE) on March 10, 2021. The agreement states that each share of Coherent common stock will be exchanged for $175.00 in cash and 1.0109 shares of Lumentum stock at closing. The deal requires approval from both companies' stockholders and regulatory approvals in China and South Korea. Coherent's board recommends shareholders vote in favor of the merger, expected to close in the second half of 2021.
Lumentum Holdings Inc. received notice from Coherent, Inc. regarding an unsolicited acquisition proposal from II-VI Incorporated, which Coherent's Board deemed a "Company Superior Proposal" under its existing merger agreement with Lumentum. Coherent intends to terminate the merger agreement, requiring a $217.6 million termination fee if it proceeds with II-VI. Lumentum will review the proposal, having four business days to respond. Despite this, Lumentum's Board continues to recommend the merger with Coherent to its stockholders.
Lumentum Holdings announces the launch of new high-power, high-efficiency five and six junction VCSEL arrays for 3D sensing and LiDAR applications. These innovations achieve over 800 W of peak power in a compact form, enhancing performance in consumer electronics, automotive, and industrial sectors. Dr. André Wong emphasizes that these advancements are crucial for increased LiDAR functionality. The arrays are designed for high-volume production, leveraging established manufacturing capabilities. Lumentum will showcase these products at the SPIE Photonics West 2021 Digital Forum, happening March 6-11, 2021.
Lumentum Holdings announced participation in three significant industry events to showcase its advanced solutions for 3D sensing and laser markets. The events include the SPIE Photonics West 2021 from March 6-11, where Lumentum experts will present innovative photonic technologies, the LASER World of PHOTONICS CHINA 2021 from March 17-19, featuring their latest laser innovations, and the SPIE AR, VR, MR Digital Forum from March 28-31, focusing on augmented and virtual reality. Lumentum aims to highlight its role in next-generation 3D sensing applications across various sectors.
Lumentum Holdings announced its participation in several upcoming virtual investor events. Key events include:
- Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021, at 9:30 a.m. ET.
- Raymond James 41st Annual Institutional Investors Conference on March 3, 2021, at 10:50 a.m. ET.
- Susquehanna Tenth Annual Technology Conference on March 9, 2021, from 9:40 a.m. to 4:15 p.m. ET.
- Loop Capital's Inaugural Investor on March 12, 2021, from 9:30 a.m. to 3:00 p.m. ET.
Webcasts will be available on Lumentum's investor relations website.
Lumentum announced that its San José headquarters will now run on San José Clean Energy's 100% renewable energy service, TotalGreen. This partnership reflects Lumentum's commitment to sustainability, aiming for net-zero emissions globally by 2030. The initiative aligns with the City of San José's goal of achieving 100% renewable energy by 2050. Lumentum plans to release its first external sustainability report in 2021, outlining its Environmental, Social, and Corporate Governance (ESG) objectives.
Lumentum Holdings has issued a statement regarding MKS Instruments' unsolicited acquisition proposal for Coherent, asserting that the proposal is misleading and fraught with regulatory risks. Lumentum emphasizes that its agreed merger with Coherent provides a more secure path to completion, promising to tackle antitrust regulations effectively. MKS's proposal lacks necessary commitments to mitigate significant overlaps, which could lead to value loss for Coherent shareholders. The definitive agreement between Lumentum and Coherent includes a $100.00 cash payment and 1.1851 Lumentum shares per Coherent share, anticipated to finalize in the latter half of 2021.
Lumentum Holdings has announced its definitive agreement to acquire Coherent, which is expected to create a leading photonics technology company. Coherent shareholders will receive $100 per share plus 1.1851 shares of Lumentum common stock. The transaction, anticipated to close in the second half of 2021, seeks regulatory and shareholder approvals. Lumentum aims to innovate and expand in the photonics sector, contrasting MKS Instruments' proposal with a clearer path to completion. Deutsche Bank is advising Lumentum on this strategic move.
Coherent, Inc. (NASDAQ: COHR) announced it received an unsolicited acquisition proposal from MKS Instruments, Inc. (NASDAQ: MKSI) offering $115 in cash and 0.7473 of an MKS share per Coherent share. This proposal is subject to closing conditions such as antitrust approvals. On January 19, Coherent entered a merger agreement with Lumentum Holdings Inc. (NASDAQ: LITE), offering $100 in cash and 1.1851 Lumentum shares per Coherent share. Coherent's board is evaluating the MKS proposal, recognizing it could be superior to Lumentum's offer but continues to recommend the Lumentum merger to shareholders.
Lumentum Holdings Inc. reported fiscal second-quarter results for 2021, showing net revenue of $478.8 million, up 5.8% from the previous quarter. GAAP net income reached $83.2 million, or $1.06 per diluted share, compared to $67.1 million in Q1. Non-GAAP net income was $155.7 million, or $1.99 per diluted share. The company held $1,700.3 million in cash and equivalents, an increase of $89.6 million from the prior quarter. Lumentum also anticipates revenue between $425 million and $440 million for Q3.
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