New York, February 3, 2026, 12:24 EST — Regular session
Lumentum shares rose 4.9% to $444.23 by midday Tuesday, after fluctuating between $432.20 and $463.40. About 4.0 million shares have changed hands so far. (Lumentum Investor Relations)
Attention is back on Lumentum, a stock now tied to sky-high expectations. Shares have surged roughly 390% in the last year, turning every quarterly earnings announcement into a key moment for investors. (Barron’s)
Lumentum’s stock surged 8.1% on Monday, closing at $423.42, up from $391.84 on Friday, based on historical price data. (Investing.com)
The gain occurred despite a weaker broader market. The SPDR S&P 500 ETF Trust dropped 0.9%, and the Invesco QQQ Trust Series 1 slid 1.7%. Meanwhile, optical-focused rivals Coherent Corp and Ciena Corp. saw their shares rise.
Next up is guidance. In its last quarterly update, Lumentum forecasted fiscal second-quarter revenue between $630 million and $670 million, with a non-GAAP operating margin of 20% to 22%, and non-GAAP earnings per share ranging from $1.30 to $1.50. (“Non-GAAP” here excludes stock-based compensation and other charges.) CEO Michael Hurlston highlighted that the company is “well positioned to support the rapid expansion of AI compute.” (Lumentum Investor Relations)
A separate SEC filing revealed that director and interim chief procurement officer Harris Isaac Hosojiro received 629 shares from vested restricted stock units, a type of equity compensation. After 225 shares were withheld to cover taxes, he ended up with 12,009 shares. (SEC)
Bulls face a clear risk: expectations have soared following the stock’s sharp climb. A slip below the company’s previous guidance or a more cautious outlook on demand and margins might spark profit-taking.
Investors are holding tight for Tuesday’s post-close earnings and the follow-up conference call, looking for the next major catalyst—and any shift, up or down, in guidance.
