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Lumentum Holdings Inc.Evidence as of 2026-09-02Overview · Lumentum Holdings Inc.
Lumentum Holdings Inc. manufactures and sells optical and photonic products in the Americas, the Asia-Pacific, Europe, the Middle East, and Africa. The company operates in two segments, Optical Communications (OpComms) and Commercial Lasers (Lasers). The OpComms segment offers components, modules, and subsystems that enable the transmission and transport of video, audio, and data over high-capacity fiber optic cables…
Management team
- Mr. Christopher W. Coldren Ph.D. · Senior VP and Chief Strategy & Corporate Development OfficerFind on LinkedIn
- Ms. Kathryn Ta · Vice President of Investor RelationsFind on LinkedIn
- Mr. Michael E. Hurlston · President, CEO & DirectorFind on LinkedIn
- Mr. Alan S. Lowe · Advisor & DirectorFind on LinkedIn
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Links open LinkedIn searches, not verified profiles. Team data from our market-data vendor's company profile.
Moneyta sentiment
Where the published evidence leans after the desk debated it — not a rating or a recommendation.
+0.1 on a −2 to +2 scale — was +0.2 before the debate changed the read.
What builds the score
Solid bars are analyst rubric scores; faded bars are computed directly from data. Claims dropped in debate count for nothing; weakened claims count at half weight.
Editor's note
Written after the debate settled — the rest of the page is the evidence behind it.
The evidence balance is Mixed (+ 0.1 of a possible + 2; was + 0.2 before debate) with high confidence. Over the reported fiscal periods, gross profit rose from $ 77,900,000 in the fiscal quarter ended 28 September 2024 to $ 357,000,000 in the fiscal quarter ended 28 March 2026, and operating income moved from an $ 82,400,000 loss (fiscal quarter ended 28 September 2024) to an operating income of $ 174,500,000 (fiscal quarter ended 28 March 2026). Net income followed a similar swing: losses of $ 82,400,000 (fiscal quarter ended 28 September 2024) through $ 44,100,000 (fiscal quarter ended 29 March 2025) to positive net income of $ 144,200,000 (fiscal quarter ended 28 March 2026).
Reported shares outstanding rose from 68,700,000 as of 31 October 2024 to 89,700,000 as of 14 August 2026. Market metrics show very mixed market signals: 12-1 momentum is reported at + 608.5% (100th percentile of 547) while three-month momentum is - 15.6%; beta versus SPY is 3.02 with a 90-day annualized volatility near + 99.8% (90th–95th percentile range). Valuation measures in the packet show a market capitalization of $ 77,944,815,000 and a P/E TTM of 482.75, with trailing twelve‑month operating income of $ 207,800,000 and net cash provided by operating activities of $ 116,000,000.
How this note was made
every stage ran before the note was writtenAnalyst desk
Mercer, Oakes, Nash, Ellis, Yates, Talbot and Archer. The desk: named AI agents, not people. Each reads one slice of the evidence and nothing else — no outside knowledge, no browsing — so every finding traces to a source you can open.
Reads the XBRL figures companies file with the SEC — revenue, margins, income, debt and share count, quarter by quarter — and reports which way the trend is running.
Gross profit increased across the reported quarters from $77,900,000 in the fiscal quarter ended 28 September 2024 to $99,600,000 (period ended 28 December 2024), $122,500,000 (period ended 29 March 2025), $181,500,000 (period ended 27 September 2025), $240,100,000 (period ended 27 December 2025) and $357,000,000 in the fiscal quarter ended 28 March 2026.
XBRL companyfacts · 0001628280-25-049073Net income moved from losses of $82,400,000 (fiscal quarter ended 28 September 2024) and $60,900,000 (fiscal quarter ended 28 December 2024) and $44,100,000 (fiscal quarter ended 29 March 2025) to positive results of $4,200,000 (fiscal quarter ended 27 June 2025), $78,200,000 (fiscal quarter ended 27 December 2025) and $144,200,000 (fiscal quarter ended 28 March 2026).
XBRL companyfacts · 0001628280-25-049073Reads the filings themselves, above all the year-over-year diff of Item 1A risk factors: which risks a company added, dropped or quietly reworded since its last annual report.
Which filings the desk reads
The desk reads the annual 10-K in full — its risk factors, and how they changed since last year. Quarterly 10-Qs and event filings (8-Ks, insider Form 4s) are listed for context but not read line by line: the 10-K is where the material risk disclosures live. A brand-new company, or one we have only just begun tracking, may have no annual report on file yet — its risk analysis fills in once that lands.
In the Managements Discussion filed 17 August 2026, management states Lumentum is a "global leader in optical and photonic technologies" and that its products are essential to cloud, AI/ML, telecommunications, consumer, and industrial end markets.
Management's discussion · filed 2026-08-17In the Managements Discussion filed 17 August 2026, management characterizes demand drivers as: increased data flowing through optical networks and data centers, a surge in AI/ML demands, continued growth in virtual/remote use cases (virtual meetings, video calls), expanding use of laser-based manufacturing tools, and developing markets for LiDAR and 3D sensing.
Management's discussion · filed 2026-08-17Reads the signal panel above — momentum, volatility, drawdown, relative strength and beta — and ranks each against the whole research universe rather than judging it in isolation.
The 12-1 momentum metric is +608.5%.
Moneyta signal set · 2026-09-01weakened in debateThe cross-sectional rank for momentum_12_1 is the 100th percentile of 547 (highest in the universe).
Moneyta signal set · 2026-09-01weakened in debateReads which funds hold the name and at what weight, plus insider Form 4 filings, to show the exposure you may already carry through index funds.
As of 2026-09-02T13:45:47.228469+00:00, the security was a 0.1% weight in the IVV ETF.
ETF constituents · market dataThere are 11 Form 4 filings for this symbol with filed_date 2026-08-27 and parse_status marked as "pending" in the provided dataset.
Form 4 × 15 (90d window not enforced here)Reads recent headlines that are genuinely about this company, ignoring rating chatter and market-wide stories. Findings argue in the debate but never move the sentiment score.
An article reports an insider sale of 1,500 shares and characterizes the stock as trading at 5.5x GF Value.
News · gurufocus.com · 2026-09-02A separate report states insider Yuen Wupen sold 500 shares on Friday, August 28th for a total of $470,475.00.
News · thelincolnianonline.com · 2026-09-02Reads parsed Forms 3/4/5 — who bought or sold, at what size, and whether a 10b5-1 plan was involved. Flags clustered open-market officer buying; treats plan sales as routine and never counts a fund or 10%-holder as an officer.
Insiders reported aggregate sells of "$54.9M" in the parsed 180-day window (summary field).
Form 4 · Wupen Yuen (PRESIDENT, GLOBAL BUS. UNITS) · $441k sold · 2026-08-26HURLSTON MICHAEL E. (President and CEO) reported an open-market sale of "$525k" for 548 shares on 2026-08-27 (Form 4).
Form 4 · HURLSTON MICHAEL E. (President and CEO) · $525k sold · 2026-08-27Reads the implied-expectations math built from the company's own filings (the growth rate today's price would justify, and the multiples beside it) and argues whether the market's bar looks high or low for this business. Never turns the math into a target.
The price-to-trailing-12-month-earnings (P/E TTM) is 482.75 based on the filings and inputs provided.
Valuation inputs · SEC XBRL + stored EOD closeMarket capitalization is $77,944,815,000 and enterprise value is $78,306,315,000, implying small net debt relative to enterprise value given the cash and debt line items provided.
Valuation inputs · SEC XBRL + stored EOD closeDebate and risk review
A bull and a bear contest the claims and the chair rules on each; the risk review stress-tests what survived.
A bull and a bear argue the analysts' claims across two rounds, then a chair rules on each one. Only what survives feeds the score — the argument is shown, not hidden, so you can judge the reasoning yourself.
Several company-reported fundamentals show a material operational inflection: gross profit, operating income, and net income moved from multi-quarter losses into large positive results across the fiscal quarters cited, and cash and stockholders’ equity expanded notably over the same interval. Management filings describe demand drivers tied to AI/cloud, data-center optical needs, and reorganizing to a single integrated reporting structure, which aligns with the spike in market momentum metrics (12-1 momentum at +608.5%, 100th percentile) and recent buy-side analyst initiations. These points jointly support a favorable read that the firm shifted from loss-making to sizable profitability and strengthened its balance sheet while market signals and some sell-side coverage recognized AI-related opportunity. Observed counterpoints (high valuation multiples, elevated volatility, insider sales, share count increases, and modest trailing operating cash versus market cap) are factual in the dataset but can be weighed against the strength and recency of the operational improvements and cash/equity expansion.
Chair's verdict, claim by claim
Fragility · computed, not argued
balanced0.30
38 surviving claims rest on 20 distinct sources; the heaviest analyst carries 18% of them, and 95% of what the desk raised survived the debate.
The desk’s read rests on a moderate breadth of sources (20) but a non-trivial share of surviving claims come from a few contributors — the single heaviest analyst accounts for nearly a fifth of the surviving claims — which raises sensitivity to that analyst’s inputs. High survival through debate (95%) means internal scrutiny preserved most points, but source concentration and some weakened items (noted above) reduce how much independent weight the collection can bear without further corroboration.
Peer context · computed, not argued
12-1 momentum ranks 1st of 5 in Communication Equipment (as of 2026-09-01).
90-day volatility ranks 2nd of 5 in Communication Equipment (as of 2026-09-01).
Disconfirming evidence · base rates · falsifiers
Context
Outside consensus, and where this name already sits in your own portfolio.
Third-party consensus shown for context. It never enters Moneyta sentiment — when the two diverge, the debate above is where the why lives.
What this was built from
Every figure on this page traces to one of these. The desk reads only what is listed here — no outside knowledge, no browsing — and each card shows who read it and what it contributed to the score.
16 filings· 2 cited
SEC XBRL filings
Quarterly figures as filed with the SEC, read straight from EDGAR's structured data — not retyped or estimated.
Read by Mercer+0.6 to the score
11 documents· 1 cited
SEC filing documents
The filings themselves, including the year-over-year comparison of Item 1A risk factors.
Read by Oakes+0.6 to the score
1 signal set
Moneyta signal set
Computed from our own end-of-day price history and ranked against the whole research universe. No AI involved.
Read by Nash−0.6 to the score
2 holdings records
Fund holdings
Which funds hold this name and at what weight, plus insider Form 4 filings.
Read by Ellis+0.3 to the score
7 headlines· 2 cited
News coverage
Recent headlines about this company, rating chatter excluded and nothing published after the report date.
Read by Yatesnothing survived
7 filings· 2 cited
Insider filings
Parsed Forms 3/4/5 from EDGAR: named insiders, share counts, prices, and 10b5-1 plan state — stated and inferred flags kept apart.
Read by Talbot−0.4 to the score
1 computation
Valuation inputs
TTM cash-flow figures from the company's own XBRL filings, priced with the stored closing price. Implied growth and multiples only; no fair-value dollar figure reaches the desk, by design.
Read by Archercontext only
1 record· 0 cited
Company profile
Sector, industry and company details.
1 record· 0 cited
Analyst consensus
Third-party consensus, shown for context only — it never enters Moneyta sentiment.
Read means we pulled and handed it to an analyst; cited means a claim on this page points at it. Reading twelve quarters to state one trend is normal — the gap is shown rather than hidden.
Written by AI, checked against sources
The analysts, the bull–bear debate and the editor's note are AI agents reading only the evidence listed on this page. They can misread a filing or a headline, which is why every claim cites a source you can open and check yourself. The sentiment score is arithmetic over the claims that survived the debate, not a language model's opinion.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations. Past patterns do not indicate future results.
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Institutional holders
Net institutional flow, Q/Q
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Insider buys, 90 days
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The real figures are for members. Educational analysis, not advice.
Educational analysis of published data. Moneyta does not give investment advice or make recommendations.