Lumentum
ConvictionWeak
Vertically-integrated component + systems supplier: designs and fabs InP/EML laser chips and optical transceivers (Cloud & Networking) plus telecom systems and industrial lasers; sells to hyperscalers, networking OEMs, and module assemblers. Revenue is hardware unit sales, not recurring subscription — a cyclical, capacity-gated chip business currently in an up-cycle.
Revenue
$808.4M Q3 FY26qtr ended Mar 28, 2026); ~$2.49B TTM [fact]Rev growth
+90.1% YoY Q3 FY26 [fact]Gross margin
47.9% non-GAAP / 44.2% GAAPQ3 FY26) [fact]Op margin
32.2% non-GAAP / 21.6% GAAPQ3 FY26) [fact]Capex intensity
~15%capex ~$125M / rev $808.4M, Q3 FY26); FY25 capex was $231M [fact]Market cap
~$64-70Bmid-June 2026; ~$848/sh × ~77.8M sh) [fact]Price · 1-year trend
real · weekly$862+810% 1yUSD
52-week range
$93 – $971
52w lowas of 2026-06-25 · Yahoo Finance52w high
Across the boards
The thesis on this name
opportunityWeak
AI Compute Value-Chain
Full context
The read
Where our coverage leans
Coverage leans bullish
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Full financial intelligence for Lumentum
Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage Jun 2026· sign in (free) for the analyst summary; Pro unlocks full intelligence