Lumentum Holdings Inc.


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Lumentum Holdings Inc. exceeded analyst expectations in terms of revenue as well as earnings, reporting net revenue of $317.6 million, depicting a sequential decrease of 14% and a year-on-year decline of 37%. Lumentum strategically strengthened its position as a photonics provider to cloud operators by incorporating Cloud Light’s products into its portfolio. This move aligns with the current surge in artificial intelligence, propelling growth within the data center market. Anticipating substantial growth in Cloud and Networking revenue in 2024, driven by the upswing in AI compute demands, their team envisions cloud applications contributing over 30% to its Cloud and Networking revenue in the same year. In the Industrial Tech segment, Lumentum’s imaging, sensing, and laser products align with Industry 4.0 and 5.0 trends, catering to industrial sensing applications and precision photonics needs in semiconductor manufacturing. Cloud and Networking revenue, while experiencing a sequential decline of 20%, is poised for growth with robust demand from cloud data centers. The emergence of 800G transceivers, both internally developed and supplied by Cloud Light, contributes to Lumentum’s optimistic outlook. The company anticipates its 200-gig per lane EMLs to play a pivotal role in hyperscale data centers, with shipments expected to commence in calendar 2024.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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