Lumentum (LITE) Soars to All-Time High on Strong Earnings

We recently published 10 Stocks Withstanding Market Turbulence. Lumentum Holdings Inc. (NASDAQ:LITE) was one of the best performers on Thursday.

Lumentum extended its winning streak to a 5^th consecutive day on Thursday, hitting a new all-time high as investors digested its strong earnings performance in the second quarter of fiscal year 2026.

At intra-day trading, the stock surged to its highest price of $507.55 before paring gains to finish the session just up by 8.35 percent at $504.42 apiece.

In an updated report, Lumentum Holdings Inc. (NASDAQ:LITE) said that it swung to a net profit of $78.2 million during the period from a $60.9 million loss in the same period a year earlier. Net revenues surged by 65 percent to $665.5 million from $402.2 million year-on-year.

Revenues hit the high-end of its earlier guidance, while profitability and earnings per share exceeded its previous outlook.

“Our forward guidance calls for over 85 percent year-over-year revenue growth, yet we are only at the starting line for two substantial opportunities: optical circuit switches (OCS) and co-packaged optics (CPO). In OCS, we are scaling rapidly to meet extraordinary customer demand that has already driven our backlog well beyond $400 million. In CPO, we received an incremental multi-hundred-million-dollar order, deliverable in first half calendar 2027. Our results continue to highlight the strength of our roadmaps for both optical components and systems, which make us mission-critical to the world’s AI leaders,” said Lumentum Holdings Inc. (NASDAQ:LITE) President and CEO Michael Hurlston.

For the third quarter, Lumentum Holdings Inc. (NASDAQ:LITE) is targeting revenues between $780 million and $830 million, or an implied growth of 83 percent to 95 percent from the $425.2 million reported in the same quarter last year.

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Disclosure: None. This article is originally published at Insider Monkey.