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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.
Lumentum Holdings Inc. (NASDAQ: LITE) announced a pricing of $750 million in convertible senior notes due 2028. The offering includes a 13-day option for initial purchasers to acquire an additional $112.5 million. Lumentum expects net proceeds of approximately $743.2 million, with plans to use $200 million for stock repurchases and the remainder for general corporate purposes. The notes will have a 0.50% annual interest rate, maturing on June 15, 2028, and will be convertible into common stock at a rate of 7.6319 shares per $1,000. The offering is scheduled to settle on March 8, 2022.
Lumentum Holdings has authorized a significant increase in its share repurchase program to $1 billion, set to expire in May 2024. This new program replaces the previous $700 million plan initiated in May 2021. The company's CEO, Alan Lowe, emphasizes the favorable growth outlook and expected double-digit revenue growth as key factors behind this decision, which aims to enhance shareholder value.
Lumentum Holdings Inc. (NASDAQ: LITE) announced plans to offer $750 million in convertible senior notes due in 2028. This offering is subject to market conditions and will be available to qualified institutional buyers. There is also an option for initial purchasers to buy an additional $112.5 million. Lumentum intends to use around $250 million of the proceeds to repurchase its common stock and the rest for general corporate purposes. The notes will be unsecured and convertible into cash or stock, with specific terms to be determined at pricing.
Lumentum Holdings announces participation in the Optical Fiber Communication Conference (OFC) 2022, taking place March 6-10 in San Diego, California. Several executives, including CTO Brandon Collings and CEO Alan Lowe, will lead discussions on the future of optical communications and supply chain resilience in a post-COVID world. Key presentations will cover topics such as cost reduction trends, the transition to co-packaged optics, and challenges in developing high-capacity coherent transceivers. Lumentum is known for its innovative optical and photonic products and is listed under NASDAQ: LITE.
Lumentum will host an Investor and Analyst Briefing at the 2022 Optical Fiber Communication Conference (OFC) on March 8, 2022, at 9:00 a.m. Pacific Time. The event will take place at the Marriott Marquis San Diego, San Diego Ballroom A, providing an overview of Lumentum's business and products. Attendees can register through the provided link, and a live webcast will be available on the company's investor relations website. Lumentum, traded under the ticker LITE, specializes in optical and photonic products for various networking applications.
Lumentum Holdings announced participation in two upcoming virtual investor events. The first event is the JP Morgan 5G Tech meetings on March 1, 2022, at 10:00 a.m. ET. The second is the Susquehanna Virtual Technology Conference, scheduled for March 4, 2022, with availability from 9:20 a.m. to 2:55 p.m. ET. These events will not be webcast, and interested institutional investors should contact their representatives or email investor relations.
Lumentum Holdings Inc. (LITE) has been awarded the prestigious 2021 Prime Minister's Industry Award in the Productivity category by Thai Prime Minister Prayut Chan-o-cha. This accolade acknowledges Lumentum's excellence in manufacturing efficiency at its Thailand facility. The award follows another recognition in 2020 for Outstanding Achievement in Quality Management, affirming the company's commitment to continuous improvement and high-quality production. The Prime Minister's Industry Award celebrates enterprises that contribute significantly to Thailand's economy and society.
Lumentum Holdings reported fiscal Q2 2022 net revenue of $446.7 million, down 0.4% quarter-over-quarter and 6.7% year-over-year. GAAP net income was $56.7 million or $0.75 per diluted share. Supply shortages, worsened by COVID-19, are expected to impact Q3 revenue by over $65 million, but Lumentum anticipates a revenue increase in Q4. The company expects Q3 revenue between $375 million and $405 million, with non-GAAP diluted EPS of $1.01 to $1.19.
NeoPhotonics Corporation (NYSE: NPTN) announced that its stockholders have overwhelmingly approved the merger with Lumentum Holdings Inc. (NASDAQ: LITE), with 99.5% of votes in favor, representing 76.3% of outstanding common stock. The merger is contingent on customary closing conditions and requires approval from the State Administration for Market Regulation in China. The transaction is expected to finalize in the second half of 2022.
Lumentum Holdings (NASDAQ: LITE) and NeoPhotonics Corporation (NYSE: NPTN) announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, a significant step toward finalizing their merger agreement previously announced on November 3, 2021. The transaction is pending other customary conditions, including NeoPhotonics stockholder approval and clearance from the State Administration for Market Regulation in China. The deal is anticipated to close in the second half of 2022.
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