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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.
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.
Lumentum Holdings will announce its fiscal second quarter 2022 financial results on February 3, 2022, before the market opens. A conference call is scheduled for 5:30 a.m. PT / 8:30 a.m. ET on the same day, with a live webcast available on their website. Participants are advised to dial in 10 minutes early and can pre-register for immediate access. A replay will be available from February 3 to February 10. Lumentum, listed under NASDAQ: LITE, specializes in optical and photonic products for various applications.
Hesai and Lumentum have announced a partnership to develop hybrid solid-state LiDAR solutions for advanced driver-assistance systems (ADAS). This collaboration aims to enhance the cost-effectiveness and scalability of LiDAR technology, crucial for autonomous vehicles. Lumentum's VCSEL array technology will be integrated into Hesai's AT128 LiDAR, promising improved affordability and automotive-grade reliability. High-volume shipments of the AT128 are expected to begin in 2022, addressing industry demands for advanced sensing capabilities.
Lumentum Holdings Inc. has been awarded the Best Comprehensive Performance Award by ZTE Corporation during the 2022 ZTE Global Partners Day. This recognition highlights Lumentum's overall quality, leading technology, and timely delivery of optical transport and transmission components for telecom and data center applications. Lumentum's Vice President of Sales, T.J. Lu, expressed pride in the achievement, affirming the company’s commitment to innovation and customer satisfaction. The award reflects Lumentum's robust portfolio and its ability to meet evolving customer needs in the optical communications sector.
Lumentum Holdings has announced its participation in several upcoming virtual investor events scheduled for late November and December 2021. Key events include the Nasdaq 45th London Investor Conference on November 30 at 12:30 p.m. ET, the Raymond James 2021 Technology Investors Conference on December 6 at 9:40 a.m. ET, and the Barclays Global Technology Conference on December 7 at 9:10 a.m. ET. Additionally, Lumentum will be available at the D.A. Davidson Semicap, Laser & Optical Conference on December 15 from 9:00 a.m. to 1:45 p.m. ET. Webcasts will be accessible on their investor relations website.
Lumentum, a leading provider of VCSEL arrays, announced the expansion of its offerings with high-performance 1D and 2D addressable arrays aimed at LiDAR and 3D sensing applications. These arrays enhance optical power density and efficiency, essential for longer-range applications like autonomous vehicles. The new technology, expected to launch in Q4 2022, eliminates mechanical beam scanning, paving the way for innovative solutions in various industries.
Lumentum Holdings announced participation in two upcoming virtual investor events. The first is the Needham Virtual Security, Networking, & Communications Conference on November 16, 2021, where they will present at 10:15 a.m. Eastern Time. The second is the Virtual Best Ideas Conference by MKM Partners on November 17, 2021, with a presentation at 9:50 a.m. Eastern Time. Webcasts for both events will be available on the investor relations section of their website.
Lumentum Holdings reported fiscal Q1 2022 results, with net revenue of $448.4 million, up 14.4% from Q4 2021 but down 0.9% year-over-year. GAAP net income was $81.5 million or $1.08 per diluted share. The company's cash reserves decreased by $61.4 million to $1,884.6 million. Lumentum expects Q2 2022 revenue between $435 million and $455 million. Despite strong demand particularly in Telecom, a semiconductor shortage may impact supply levels more significantly in the upcoming quarter.
Lumentum Holdings (NASDAQ: LITE) has announced its acquisition of NeoPhotonics (NYSE: NPTN) for $16.00 per share in cash, totaling approximately $918 million. This strategic acquisition aims to enhance Lumentum's capabilities within the rapidly expanding $10 billion optical components market, particularly for cloud and telecom networks. The deal, which provides a 39% premium over NeoPhotonics' stock price on November 3, 2021, is expected to yield over $50 million in annual run-rate synergies within 24 months and immediately boost non-GAAP earnings per share upon closing.
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