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Lumentum stock jumps on sharp revenue growth and record-quarter outlook
Lumentum reported revenue up about 90% year over year to $808 million in the latest quarter and expects another record quarter, despite valuation concerns cited by analysts.
Photonics equipment maker Lumentum Holdings is drawing renewed investor attention as the company reports rapid growth tied to demand for AI infrastructure, with analysts expecting additional upside even as they note valuation risk. In the latest quarter, Lumentum boosted revenue by about 90% year over year to $808 million, and posted a non-GAAP operating margin of 32.2%. The company also said it expects another record quarter, according to MarketBeat Ratings. MarketBeat Ratings also pointed to valuation concerns, noting Lumentum trades at nearly 142 times earnings, but cited largely bullish sell-side sentiment. Two-thirds of the 21 analyst ratings for Lumentum shares are Buys, with Wall Street anticipating more than 32% potential upside.
MarketBeat Ratings similarly highlighted other photonics names for investors, including IPG Photonics, which it said is up about 37% year to date after a strong start to the year. For IPG Photonics, the outlet referenced Q1 2026 revenue of $265 million, up 17% year over year, and improved bookings.