Lumentum Holdings Inc
- Industry
- AI Optical Communications
- Exchange
- US
- Country
- USA
- IPO date
- Aug 4, 2015
- Employees
- 10,562
- Website
- www.lumentum.com
Composite valuation range · conservative $60–$120 / fair $120–$220 / optimistic $250–$400. At $711.96, Above the optimistic ceiling · future growth overdrawn.
At publication $890.09 (May 20, 2026)
Data from EODHD, shown in the reporting currency; for reference only, not investment advice.
Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. It operates through two segments, Cloud & Networking and Industrial Tech. The Cloud & Networking segment offers optical and photonic chips, components, modules, and subsystems supplied to cloud data center operators, AI/ML infrastructure providers, and network equipment manufacturer customers that are building cloud data centers and network infrastructures. Its Industrial Tech segment provides short-pulse solid-state lasers, kilowatt-class fiber lasers, diode lasers, and gas lasers that serves the semiconductor device, solar cell, display, and electric vehicle and battery manufacturing markets. The company was incorporated in 2015 and is headquartered in San Jose, California.
History
Lumentum Holdings Inc. was incorporated in 2015 and is headquartered in San Jose, California, completing its IPO on August 4, 2015. The company grew through acquisitions, buying NeoPhotonics for $934.4m in cash in 2022 and Cloud Light in 2023 for a total of $728.5m (about $705.0m in cash). In 2025 it transitioned leadership, with Michael Hurlston succeeding Alan Lowe as CEO. Through fiscal 2025 it reported in two segments, Cloud & Networking and Industrial Tech, then restructured to a single operating segment starting in fiscal 2026 Q1. In March 2026 it privately issued about 2,876,400 shares of Series A convertible preferred stock to NVIDIA at $695.31 per share, raising $2.0bn, alongside a multi-year, non-exclusive strategic agreement.
Industry position
Lumentum manufactures and sells optical and photonic products across the Americas, Asia-Pacific, Europe, the Middle East, and Africa, serving cloud data center, AI/ML infrastructure, communications, and industrial markets through Components (laser chips, components, optical line subsystems) and Systems (optical modules, optical circuit switching) revenue engines. The business has high customer concentration, with two customers accounting for 24% and 16% of revenue in the first nine months of fiscal 2026. Revenue ran $1.74bn in FY2021, $1.65bn in FY2025, and reached $2.01bn over the first nine months of fiscal 2026; the company employs 10,562 people. As of June 28, 2025 it held about 1,020 U.S. patents, 1,100 foreign patents, and about 780 pending applications. Named comparable competitors include Coherent, Applied Optoelectronics, nLIGHT, Fabrinet, and Ciena.