Lumentum Holdings reported second quarter fiscal 2026 results on February 3, 2026, with net revenue of $665.5 million, representing 65 percent year-over-year growth. The company reported GAAP diluted net income per share of $0.89 and non-GAAP diluted net income per share of $1.67, exceeding prior guidance. Management provided forward guidance calling for over 85 percent year-over-year revenue growth. The company reported a backlog exceeding $400 million in optical circuit switches and received an incremental multi-hundred-million-dollar order in co-packaged optics deliverable in first half calendar 2027. Several analysts raised price targets following the earnings announcement, including Susquehanna to $550, Mizuho to $645, and B. Riley Financial to $526. The stock traded at $752.75 on February 25, 2026, up 9.4 percent during that session.
Read full analysisLumentum Holdings reported second quarter fiscal 2026 results on February 3, 2026, with net revenue of $665.5 million, representing 65 percent year-over-year growth. The company reported GAAP diluted net income per share of $0.89 and non-GAAP diluted net income per share of $1.67, exceeding prior guidance. Management provided forward guidance calling for over 85 percent year-over-year revenue growth. The company reported a backlog exceeding $400 million in optical circuit switches and received an incremental multi-hundred-million-dollar order in co-packaged optics deliverable in first half calendar 2027. Several analysts raised price targets following the earnings announcement, including Susquehanna to $550, Mizuho to $645, and B. Riley Financial to $526. The stock traded at $752.75 on February 25, 2026, up 9.4 percent during that session.
Lumentum Holdings designs and manufactures optical and photonic products used in telecommunications, data centers, and industrial applications. The company has emerged as a key supplier of optical components for AI infrastructure, with a backlog exceeding $400 million in optical circuit switches and a multi-hundred-million-dollar order for co-packaged optics. Its stock has surged on AI-driven demand, though it now trades well above analyst consensus targets amid questions about balance sheet risks tied to convertible notes.