New York, Feb 22, 2026, 12:44 ET — Markets finished up for the session, with trading now closed.
- Lumentum wrapped up Friday at $667.77, climbing 5.1%. Shares have now booked gains for a second straight day.
- Management is set to address demand and margins in meetings on Feb. 26 and March 2, with investors watching those updates closely.
- Lumentum sees fiscal Q3 revenue coming in somewhere between $780 million and $830 million, while non-GAAP EPS is forecast at $2.15 to $2.35.
Lumentum Holdings Inc. shares jumped 5.1% to close at $667.77 on Friday, pushing the optical equipment maker’s rally even further. That leaves little room for missteps when the market opens again on Monday.
The stock has climbed about 12% over the last three sessions, buyers stepping back in after Thursday’s rally.
Lumentum wasn’t alone. Coherent jumped 6.8%, Ciena picked up 5.2%, and Applied Optoelectronics ran up 10% in the latest session, with investors sticking to networking and photonics names tied to data-center growth.
Lumentum’s new outlook is grabbing attention after the latest surge. CEO Michael Hurlston, in the Feb. 3 earnings release, pointed to revenue landing at the top end of guidance and flagged robust optical circuit switch demand that pushed backlog above $400 million.
Optical circuit switches handle traffic inside data centers. Lumentum, meanwhile, has highlighted co-packaged optics: this tech moves optical links closer to chips, aiming to cut power draw and boost speeds. Investors believe it’s catching on, especially as AI workloads accelerate.
Lumentum forecasts fiscal third-quarter net revenue between $780 million and $830 million. Non-GAAP operating margin is pegged at 30% to 31%, with non-GAAP diluted EPS projected in the $2.15 to $2.35 range. These figures strip out items like stock-based compensation and acquisition-related expenses to focus on core operations.
Quarterly results through Dec. 27, 2025, landed on Feb. 3, when the company also rolled out fresh investor materials.
It all comes down to timing. Lumentum is scheduled to connect with investors at Susquehanna’s tech conference this Thursday, Feb. 26. Then on Monday, March 2, the company heads to Morgan Stanley’s Technology, Media & Telecom gathering. That appearance will feature a webcast, kicking off at 11:30 a.m. Pacific.
After the Feb. 3 earnings release, Susquehanna analyst Christopher Rolland told Investors.com that Lumentum rolled out what he called “dramatically better guidance,” fueled by a jump in transceiver demand and, in his words, “new opportunities emerged.” Investors
The breakneck speed isn’t without risk. If cloud customers suddenly cut orders, or if backlogs lag turning into revenue—slower than traders anticipate—or margins get harder to protect as volumes swell, those recent gains could slip away in a hurry.
Investors are watching Monday’s open for hints on whether momentum carries forward, before turning to management updates at the Feb. 26 investor meetings and the March 2 company webcast. Backlog numbers, shifts in delivery timelines, and any confirmation of Lumentum’s fiscal Q3 targets are in focus.
