The Latest Breaking News from Lumentum

Down more than 20% from all-time highs, Lumentum is a manufacturing company that develops products for growth markets such as data centers and AI.

Boosted by Lumentum and Applied Optoelectronics earnings reports, IBD's Telecom-Fiber Optics group has climbed to No. 3 out of 197 industries tracked.

Lumentum, a maker of fiber-optic components, pre-announced weak March quarter results tied to an order cancellation analysts believe involved Ciena.

Lumentum on Tuesday reported fiscal fourth-quarter earnings and sales that topped estimates. But shares fell as guidance came in below views.

Stock market indexes traded mostly lower ahead of the Federal Reserve's policy statement this afternoon, while earnings reports sparked some outsize moves.

Lumentum Holdings Inc (NASDAQ:LITE) reported third-quarter FY22 revenue of $395.4 million, down 5.7% year-on-year, in line with the consensus. Optical Communications revenue declined 11.3% Y/Y to $344.2 million, and Lasers revenue rose 62% Y/Y to $51.2 million. Margins: The non-GAAP gross margin contracted 40 bps to 49.5%. The non-GAAP operating margin compressed 140 bps…

Lumentum Holdings Inc (NASDAQ:LITE) reported second-quarter FY22 revenue of $446.7 million, down 6.7% year-on-year, beating the consensus of $445.5 million. Optical Communications revenue declined 11.5% Y/Y to $397.4 million, and Lasers revenue rose 66% Y/Y to $49.3 million. The non-GAAP gross margin contracted 240 bps to 51%. The non-GAAP operating margin compressed 380…