Lumentum Hldgs Inc - LITE STOCK NEWS

Lumentum Holdings has unveiled the FemtoBlade, a new femtosecond laser system, enhancing its portfolio of ultrafast industrial lasers. This innovative laser offers a modular design, providing high power and improved throughput, making it ideal for applications in OLED, PCB, and solar cell processing. The FemtoBlade, which can operate at varying power levels from 12 W to 200 W, will debut at the LASER World of PHOTONICS Munich from April 26-29, 2022. With features like FlexBurst and AccuTrig, it promises to deliver faster processing times and precise control.

Lumentum has achieved LEED Silver certification for its San Jose headquarters, reinforcing its commitment to sustainability. This certification, awarded by the U.S. Green Building Council, recognizes buildings with reduced environmental impact and improved health outcomes. Lumentum's initiatives include energy-efficient systems and enhanced indoor air quality, contributing to 34% lower CO2 emissions and 25% less energy consumption. The company aims for net-zero carbon emissions by 2030, following its announcement of using 100% renewable electricity in 2021.

Lumentum Holdings announced it will release its fiscal third quarter 2022 financial results on May 4, 2022, before markets open. A conference call will follow at 5:30 a.m. PT (8:30 a.m. ET) that day, available via live webcast on the company's website. Participants are encouraged to pre-register for the call. The earnings press release will be posted in the 'Financial News Releases' section of the website. Lumentum is a leading designer and manufacturer of optical and photonic products, traded under the ticker symbol LITE.

Lumentum has launched the M Series multi-junction VCSEL arrays, designed for automotive and industrial LiDAR and 3D sensing applications. The first product, the M51-100, features a compact design with a peak power of 70 W, ensuring reliability comparable to single junction VCSELs. These arrays allow for flexible integration into existing systems, enhancing efficiency and scalability. With ongoing advancements, Lumentum aims to reinforce its leadership in multi-junction technology, catering to the growing demand in automotive safety and factory automation.

Lumentum Holdings has announced a strategic collaboration with Ayar Labs to produce CW-WDM MSA compliant external laser sources that will support Ayar’s optical I/O solutions. This partnership aims to enhance bandwidth, energy efficiency, and reduce latency compared to traditional copper connections. The collaboration also addresses the growing market for co-packaged optics, with both companies poised to leverage their technologies and manufacturing capabilities.

Lumentum Holdings is set to showcase its innovative optical and photonic products at the Optical Fiber Communication Conference (OFC) 2022, held from March 8-10 in San Diego. Key highlights include live demonstrations of 400G coherent transmission and high-power laser technology. The company will also introduce new 25G T-SFP28 tunable transceivers, supported by the SmartTunable Multi-Source Agreement to enhance interoperability. Lumentum aims to address growing demands in telecommunications, particularly with its expanded production capacities for advanced laser chips.

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.