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Coherent and Lumentum are both leading laser and optical chip makers. Coherent is larger and operates a growing silicon carbide business.
Coherent expanded through acquisitions over the past three decades. It expects to profit from the growth of the silicon carbide and AI markets.
Optical and photonics manufacturer Lumentum Holdings Inc. NASDAQ: LITE provides optical components and lasers to data centers, cloud providers, telecoms and the manufacturing industry. Its optical products enable telecom networks to transmit data and connect servers in data centers.
Although the revenue and EPS for Lumentum (LITE) give a sense of how its business performed in the quarter ended June 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
Lumentum (LITE) came out with quarterly earnings of $0.59 per share, beating the Zacks Consensus Estimate of $0.56 per share. This compares to earnings of $1.47 per share a year ago.
The company says it expects fiscal first-quarter adjusted earnings of between 20 cents and 35 cents a share, below Wall Street estimates.
Lumentum stock is falling after fellow laser-tech specialist Coherent issued disappointing guidance. Coherent is seeing macroeconomic headwinds and is targeting significant sales and earnings declines this year.
Lumentum to Announce Fiscal Fourth Quarter and Fiscal Year 2023 Financial Results on August 17, 2023
SAN JOSE, Calif.--(BUSINESS WIRE)--Lumentum Holdings Inc. ("Lumentum") today announced that it will release its fiscal fourth quarter and fiscal year 2023 financial results on Thursday, August 17, 2023, before the market opens. Lumentum will hold a conference call the same day at 5:30 a.m. PT/8:30 a.m. ET. A live webcast of the call and the replay will be available in the Investors section of the Lumentum website at http://investor.lumentum.com. To participate via telephone: Dial-In: (888) 575-.
Barclays downgraded shares of laser maker Lumentum to Underweight from Equal Weight. The stock's valuation “doesn't make sense,” writes analyst Tom O'Malley.
Lumentum Holdings Inc. posted a weak quarterly report for a second time. Outlook for the next quarter is equally disappointing. Inventory glut is a core issue that Lumentum must work through in 2023.