Lumentum Holdings Inc. - LITE STOCK NEWS

Lumentum Holdings (NASDAQ: LITE) has announced preliminary financial results for its fiscal third quarter ending April 1, 2023. Revenue is projected to be between $380 and $384 million, significantly lower than the previous guidance of $430 to $460 million. This decrease is attributed to a major customer, representing over 10% of fiscal second quarter revenue, deciding not to accept projected shipments due to inventory management issues. Despite the shortfall, Lumentum maintains a strong relationship with this customer and expects similar shipment levels in fiscal Q4. Additionally, the board approved increasing the share repurchase program by $1.2 billion through May 2025, with $615.5 million already utilized for share buybacks.

Lumentum Holdings Inc. (NASDAQ: LITE) received the 2022 Excellent Core Partner Award from FiberHome Telecommunications Technologies Co. Ltd. for outstanding business performance. This accolade, given to a select few from over 1000 suppliers, highlights Lumentum's pivotal role in providing innovative optical technology for high-speed communications networks. Their solutions include wavelength selective switching and advanced modules for flexible network management. This recognition reinforces their commitment to advancing digital connections globally. Lumentum operates from San Jose, California, supporting telecom, enterprise, and data center networks.

Lumentum Holdings Inc. has received the prestigious 2022 Excellent Core Partner Award from FiberHome Telecommunications Technologies. This award recognizes outstanding performance among FiberHome's 1000+ suppliers, with Lumentum being one of only seven acknowledged in the telecom optical components sector. The award underscores Lumentum's role as a key supplier of innovative optical products essential for high-speed communications networks. Lumentum provides FiberHome with various solutions, including 100G to 800G modules and wavelength selective switching technology, vital for enabling high-speed data networks globally.

Lumentum Holdings has announced the live demonstration of its full band optical tunable transceivers at the Optical Fiber Communication Conference (OFC) from March 5-9, 2023, in San Diego. The showcased products include the 10G OTN SFP+, 25G T-SFP28, and 100G coherent CFP2-DCO bi-directional transceiver modules. These innovations are aimed at enhancing 5G deployments and facilitating cost-effective solutions for network operators. The 25G T-SFP28 will enter production by the end of March 2023. The new 100G BiDi transceiver allows for increased capacity using a single fiber, while the 10G OTN SFP+ offers extended reach capabilities.

Lumentum Holdings (NASDAQ: LITE) announced its participation in the Optical Fiber Communication Conference (OFC) from March 5-9, 2023, in San Diego, California. Key speakers from Lumentum will engage in discussions focused on transitioning to 800G technologies, enhancing performance, and revenue in coherent optical networks. Presentations include:

• 225-Gbps PAM4 Operation - March 6, 11:00 am PST
• Ultrahigh Speed EA-DFB Lasers - March 6, 11:45 am PST
• LITE 2023 Investor Technology Event - March 7, 7:00 am PST

This event underscores Lumentum's role in driving innovation in optical networking and laser applications.

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.