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5. Lumentum Holdings Inc. (NASDAQ:LITE)

Number of Hedge Fund Holders: 36

Lumentum Holdings Inc. (NASDAQ:LITE) provides optical and photonic products for data transmission, cloud networking, AI, and industrial laser applications across multiple industries.

Lumentum reported FQ2 2025 non-GAAP EPS of $0.42, exceeding estimates by $0.06, with revenue reaching $402.2 million, a 9.7% increase year-over-year, surpassing expectations by $11.23 million. The company ended the quarter with $896.7 million in cash, cash equivalents, and short-term investments, a decrease of $19.4 million from the previous quarter. For Q3, Lumentum forecasts revenue between $410 million and $425 million, a non-GAAP operating margin of 9.5% to 10.5%, and EPS between $0.47 and $0.53, above the consensus estimate of $0.41.

The company exceeded revenue and earnings expectations in the second quarter, driven by strong demand from cloud customers and advancements in photonics technology. Lumentum is expanding its role in AI and cloud computing by scaling production, improving optical data transmission, and strengthening partnerships with cloud operators. The company reported record shipments of EMLs and began delivering 200G lane speed variants, positioning itself for future growth in AI-driven data centers. Despite challenges in the industrial tech segment, Lumentum remains focused on innovation, with expectations of continued expansion in cloud and networking.