Lumentum
Builds laser components and optical systems for AI data centers, telecom networks, and industrial uses.
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Profile
Sells photonic components and complete optical systems for AI data centers, cloud and telecom networks, consumer sensing, and industrial processing. Revenue comes from laser chips, transceivers, wavelength-management products, circuit switches, and industrial lasers, with several large customers and a single integrated operating structure.
Supplies optical and photonic building blocks and finished systems for AI and cloud data centers, telecom networks, consumer sensing, and precision manufacturing. Components include semiconductor laser chips, laser subassemblies, coherent transmission parts, and wavelength-management products; systems include high-speed transceivers, optical modules, circuit switches, and industrial lasers. Its in-house laser and photonic-integration capabilities support sales of both critical inputs and deployable products across data-center and carrier networks.
Operates as a single integrated segment after replacing its prior segment structure. Customers and facilities span the Americas, Asia-Pacific, and Europe, with most shipments outside the United States. A nonexclusive multiyear NVIDIA agreement adds a purchase commitment and capacity rights for advanced lasers. Revenue is concentrated among several large customers, while manufacturing capacity and global trade controls remain key dependencies.
Company facts
Key statistics
Year to date +132% · Average volume (30d) 4.8M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 12, 2026 | UBS | Target | $960 | $820 | |
| Aug 12, 2026 | Raymond James | Reiterate | Outperform | $1,014 | $1,036 |
| Aug 12, 2026 | Needham | Reiterate | Buy | $550 | $1,040 |
| Aug 12, 2026 | Mizuho Securities | Target | $1,100 | $1,140 | |
| Aug 12, 2026 | Morgan Stanley | Reiterate | Outperform | $900 | $1,000 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 11, 2026Q4 FY26 | $2.97 | $3.23 | +8.8% | $987.7M | $1.01B | +1.9% | +13.63% |
| May 5, 2026Q3 FY26 | $2.27 | $2.37 | +4.4% | $810.2M | $808.4M | −0.2% | −5.06% |
| Feb 3, 2026Q2 FY26 | $1.41 | $1.67 | +18.4% | $652.1M | $665.5M | +2.1% | +7.00% |
| Nov 4, 2025Q1 FY26 | $1.03 | $1.10 | +6.8% | $526.5M | $533.8M | +1.4% | +23.57% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $425.2M | $480.7M | $533.8M | $665.5M | $808.4M | $1.01B | |
| Gross profit | $122.5M | $159.9M | $181.5M | $240.1M | $357.0M | $477.3M | |
| Operating income | −$65.4M | −$3.2M | $15.0M | $63.9M | $175.6M | $270.3M | |
| Net income | −$44.1M | $213.3M | $4.2M | $78.2M | $144.2M | −$7.16B | |
| Diluted EPS | −$0.64 | $2.96 | $0.05 | $0.89 | $1.50 | −$95.40 | |
| Gross margin | 28.8% | 33.3% | 34.0% | 36.1% | 44.2% | 47.4% | |
| Operating margin | -15.4% | -0.7% | 2.8% | 9.6% | 21.7% | 26.9% |
Fiscal years (4-quarter sums)FY22 $1.71B · FY23 $1.77B · FY24 $1.27B · FY25 $1.65B · FY26 $3.01B
Revenue by product · Q4 FY26
Revenue by geography · Q4 FY26
Balance sheet, Jun 27, 2026Cash & short-term investments $2.74B · Total debt $1.67B · Total assets $7.31B · Shareholders' equity $4.64B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 77.80M · Float 71.17M · 91.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 9.18M | 11.80% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 5.08M | 6.53% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 4.09M | 5.26% | 13F | Aug 13, 2026 |
| JPMorgan Chase & Co | 4.06M | 5.22% | 13F | Aug 12, 2026 |
| FMR LLC | 3.52M | 4.52% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Jae Kim | officer: SVP, GENERAL COUNSEL | −12,000 | $852.58 |
| Aug 25, 2026 | Vincent Retort | officer: SEE REMARKS | −38,663 | $852.59 |
| Aug 27, 2026 | Yuen Wupen | officer: PRESIDENT, GLOBAL BUS. UNITS | −500 | $958.66 |
| Aug 27, 2026 | Michael E. Hurlston | director, officer: President and CEO | −548 | $958.66 |
| Aug 26, 2026 | Yuen Wupen | officer: PRESIDENT, GLOBAL BUS. UNITS | −500 | $882.15 |
Peers
- Coherent
Full-stack photonics peer across coherent, transceivers, VCSELs, and lasers.
- Broadcom
Co-packaged optics leader and optical-component rival for AI networking silicon.
- Marvell Technology
PAM4 / coherent DSP silicon for transceivers, expanding into CPO light engines.
- Ciena
Coherent optical systems with embedded DSP modules competing for DCI customers.
- Cisco Systems
Acacia coherent optics competing for the same DCI pluggable transceiver sockets.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Lumentum | $895.00 | +0.03% | $69.63B | — | 41.5 | 23.1 | +136.7% |
| Coherent | $279.00 | −0.02% | $54.62B | 67.9 | 29.8 | 7.7 | +33.7% |
| Broadcom | $369.12 | +0.12% | $1.75T | 61.5 | 23.5 | 23.2 | +47.9% |
| Marvell Technology | $216.40 | −0.10% | $189.71B | 71.8 | 42.3 | 20.1 | +36.6% |
| Ciena | $379.00 | +0.24% | $53.57B | 126.1 | 48.3 | 9.6 | +39.5% |
| Cisco Systems | $109.95 | +0.01% | $433.28B | 33.0 | 21.4 | 6.8 | +17.6% |
| Median | 67.9 | 29.8 | 9.6 | +36.6% |