New York, February 2, 2026, 11:20 (EST) — Regular session
- Lumentum shares jumped roughly 12% in late morning trading, beating most tech hardware stocks.
- After the close on Tuesday, the company is set to release its fiscal second-quarter results.
- Investors are zeroing in on demand from AI-driven data centers and if margins can keep up.
Lumentum Holdings Inc shares climbed 12.2% to $439.52 in late morning trading on Monday, after fluctuating between $384.08 and $444.80. The stock gained $47.68 from its previous close of $391.84, with roughly 2.6 million shares changing hands.
The move is timed ahead of a major event. Lumentum, listed on Nasdaq as LITE, will report its fiscal second-quarter results after markets close Tuesday and hold a webcast at 5 p.m. ET. (Lumentum Investor Relations)
The reason it matters now is straightforward: the stock’s been driven by expectations more than actual results. Tuesday’s report will be the first real test to see if demand for high-speed optical gear in data center connections is turning into solid earnings — and if management keeps a confident stance.
In its previous earnings report, Lumentum projected fiscal Q2 revenue between $630 million and $670 million, with adjusted (non-GAAP) EPS in the range of $1.30 to $1.50. CEO Michael Hurlston stated the firm is “well positioned to support the rapid expansion of AI compute.” (Business Wire)
Peers climbed as well. Coherent Corp jumped around 6.5%, while Ciena Corp. added about 6.7%. The gains suggest the buying wasn’t limited to just one stock.
Traders are zeroing in on whether the results hit the top or bottom of the company’s forecast range, and what that reveals about demand in cloud networking. Non-GAAP figures strip out costs like stock-based compensation and some acquisition-related expenses.
Investors will be tuning in for updates on product ramps the company has previously highlighted, like optical circuit switches — hardware that routes light signals directly, skipping electrical conversion — and co-packaged optics, which places optics near the chips to reduce power use and increase speed.
The setup carries risk. A stock that jumps $60 in a single session can just as quickly tumble if the earnings report is only “fine” or if guidance comes in conservative amid a market already priced for gains.
Lumentum also offers lasers for industrial applications, a segment more closely tied to manufacturing spending and production cycles than to cloud capex. (Reuters)
Tuesday’s earnings report after the bell is the next major event. Management will follow up with a webcast and Q&A at 5 p.m. ET. Investors will zero in on updated targets and any changes in the outlook for data center demand and profitability.
