New York, Feb 9, 2026, 17:05 EST — After-hours
- Lumentum climbed roughly 4.6% Monday, holding close to $577 after hours.
- That pushed optical and networking stocks—those linked to AI data-center expansion—even further along their recent rally.
- Eyes are on new demand cues and order backlog hints as the company heads into its March 17 investor briefing at OFC in Los Angeles.
Lumentum Holdings shares surged roughly 4.6% on Monday, with the stock hovering near $577 in after-hours moves. The advance adds to a run that’s made the optical-component maker one of the market’s more unpredictable AI-related plays.
Timing played a part here: the move landed on a day when investors shifted back toward growth and hardware stocks following a rocky patch, lifting the Nasdaq roughly 0.9% and the S&P 500 by around 0.5%.
Lumentum wasn’t the only name catching a bid: fiber, optics, and networking shares all rallied. Coherent jumped more than 6%, Ciena gained close to 7%, and Corning tacked on over 7% by late trading.
No new statements out of the company Monday. According to traders, price action mostly tracked momentum sparked by last week’s earnings and revised outlook, which shifted the short-term growth picture.
Lumentum reported fiscal Q2 revenue of $665.5 million on Feb. 3, with non-GAAP earnings hitting $1.67 per share. Looking ahead, the company is projecting fiscal third-quarter revenue in the $780 million to $830 million range, and expects non-GAAP EPS between $2.15 and $2.35.
The company’s focus has shifted toward optical links and switching, the backbone tech for handling surging data flows between server racks in today’s data centers. That demand has ramped up fastest among cloud players scaling up their AI infrastructure.
Chief Executive Michael Hurlston expects “over 85 percent year-over-year revenue growth,” according to the company’s outlook. He pointed to two product categories that he considers still in early stages. “In OCS, we are scaling rapidly… our backlog well beyond $400 million,” Hurlston said, citing optical circuit switches, which use light instead of electricity to route data. investor.lumentum.com
Hurlston noted that Lumentum secured an “incremental multi-hundred-million-dollar order” tied to co-packaged optics, or CPO. These are optical parts positioned nearer to chips, boosting bandwidth and slashing power demand. The order is slated for delivery in the first half of calendar 2027, he said. investor.lumentum.com
Wall Street’s tune has changed. “Lumentum reported better results and, most importantly, dramatically better guidance,” Susquehanna’s Christopher Rolland said in a note earlier this month, highlighting stronger mix and margins. Investors.com
Still, things can reverse quickly. The stock’s sharp climb has pushed valuations and hopes higher, so signs of softer cloud budgets, slower backlog turns, or fresh supply constraints could send shares sliding.
Lumentum is set to hold an investor briefing at the Optical Fiber Communication Conference in Los Angeles on March 17, using the OFC stage to update on demand, backlog and when production lines could move. Investors will be watching this as a pulse-check.
