New York, Feb 22, 2026, 12:44 ET — The session wrapped with markets closed.
- Lumentum finished Friday’s session at $667.77, up 5.1%. That marks two days of strong gains for the stock.
- Investors are eyeing management’s updates on demand and margins during meetings scheduled for Feb. 26 and March 2.
- Lumentum is projecting fiscal Q3 revenue to land between $780 million and $830 million, with non-GAAP EPS expected in the $2.15 to $2.35 range.
Shares of Lumentum Holdings Inc. finished Friday’s session up 5.1% at $667.77, as the optical equipment maker extends a rally—leaving scant margin for error when markets open Monday.
Shares are up roughly 12% across the past three sessions, as buyers returned following Thursday’s rally. (Investing.com)
Lumentum wasn’t the only mover. Coherent rallied 6.8%, Ciena climbed 5.2%, and Applied Optoelectronics surged 10% during the latest session, as attention stayed fixed on networking and photonics stocks connected to data-center expansion.
The surge has investors zeroed in on Lumentum’s latest forecast. “Revenue hit the high end of our guidance range,” CEO Michael Hurlston said in the Feb. 3 earnings release, highlighting strong optical circuit switch demand that sent backlog past $400 million. (Business Wire)
Inside data centers, optical circuit switches route traffic. Lumentum has also pointed to co-packaged optics, which brings optical links nearer to chips to reduce power usage and increase speeds—a technology investors see gaining ground as AI workloads ramp up.
Lumentum is projecting net revenue between $780 million and $830 million for its fiscal third quarter, with a non-GAAP operating margin expected to land in the 30% to 31% range. The company sees non-GAAP diluted EPS coming in at $2.15 to $2.35. These non-GAAP numbers exclude items like stock-based pay and acquisition costs, aiming to highlight the company’s core operating performance. (Lumentum Investor Relations)
The company on Feb. 3 filed quarterly results covering the period through Dec. 27, 2025, and published investor materials at the same time. (SEC)
Timing is the key factor here. Lumentum plans to meet with investors at Susquehanna’s technology conference this Thursday, Feb. 26, before appearing at Morgan Stanley’s Technology, Media & Telecom conference on Monday, March 2. The Morgan Stanley event will include a webcast, set for 11:30 a.m. Pacific. (Lumentum Investor Relations)
Following the Feb. 3 release, Susquehanna’s Christopher Rolland noted in an Investors.com piece that Lumentum issued “dramatically better guidance” on the back of transceiver growth and “new opportunities emerged,” as he put it. (Investors)
The rapid pace carries its own dangers. Should cloud clients pull back on orders, or backlog take longer turning into revenue than traders are betting on, or if maintaining margin targets gets tougher as volumes climb, those fresh gains could vanish fast.
Looking to the coming week, investors are eyeing Monday’s open for signs of continued momentum, then shifting attention to updates from management at the Feb. 26 investor meetings and the company’s March 2 webcast. Backlog figures, changes to delivery schedules, and any reaffirmation of Lumentum’s fiscal Q3 targets will be key points. (Nasdaq)
