Index Rebalance and Special Situations Coverage, Quiddity Advisors

Anjana Amarasuriya

Index Rebalance and Special Situations Coverage

Quiddity Advisors

Pan-Asia Catalysts/Events

Index Rebalance

<ul>
<li>The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world. </li>
<li>We expect two changes during the March 2026 regular rebalance. One intra-review index change is possible but unlikely before the regular rebalance is announced.</li>
<li>One name stands out as more interesting than the others.</li>
</ul>


The SP 500 index tracks the 500 largest US-listed names and is one of the most highly-tracked indices in the world. 
We expect two changes during the March 2026 regular rebalance. One intra-review index change is possible but unlikely before the regular rebalance is announced.
One name stands out as more interesting than the others.


Quiddity Leaderboard SP500/600 Mar26 Rebal: Base Date Is Less Than A Month Away

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Lumentum Holdings recently shared its fourth-quarter and full fiscal year 2025 results, showcasing both strengths and a few areas to monitor.</li><li>The company, which operates at the forefront of the cloud and AI sector through its advanced photonics solutions, reported a strong performance driven by increased demand for optical components and cloud modules.</li><li>Significant positives include a noteworthy revenue increase, particularly from the Cloud & Networking segment, which saw a year-over-year growth of 67%.</li></ul>

Lumentum Holdings recently shared its fourth-quarter and full fiscal year 2025 results, showcasing both strengths and a few areas to monitor.The company, which operates at the forefront of the cloud and AI sector through its advanced photonics solutions, reported a strong performance driven by increased demand for optical components and cloud modules.Significant positives include a noteworthy revenue increase, particularly from the Cloud & Networking segment, which saw a year-over-year growth of 67%.

Lumentum Holdings: Can Its Transition to 4-Inch Wafers Supercharge Growth?

<ul><li>Lumentum Holdings exhibited a mix of promising potential and notable challenges in its fiscal third-quarter results for 2025.</li><li>A key positive takeaway is the company's exceeding of its guidance high-end for both revenue and earnings per share (EPS), mainly driven by strong demand from cloud customers and a recovering networking market.</li><li>The company reported a revenue of $425.2 million and recorded significant progress in its Cloud & Networking segment, which grew 8% sequentially and 16% year-over-year.</li></ul>

Lumentum Holdings exhibited a mix of promising potential and notable challenges in its fiscal third-quarter results for 2025.A key positive takeaway is the company's exceeding of its guidance high-end for both revenue and earnings per share (EPS), mainly driven by strong demand from cloud customers and a recovering networking market.The company reported a revenue of $425.2 million and recorded significant progress in its Cloud & Networking segment, which grew 8% sequentially and 16% year-over-year.

Lumentum Holdings: Increasing Demand for Indium Phosphide EMLs As A Pivotal Growth Lever!

<ul><li>Lumentum Holdings recently released its second-quarter fiscal year 2025 earnings, presenting a blend of strong performance in certain segments and ongoing challenges in others.</li><li>Led by CEO Alan Lowe, who has announced his retirement, the company highlighted key financial results and strategic initiatives amidst a backdrop of leadership transition.</li><li>In the second quarter, Lumentum exceeded the high end of its guidance range for both revenue and earnings per share.</li></ul>

Lumentum Holdings recently released its second-quarter fiscal year 2025 earnings, presenting a blend of strong performance in certain segments and ongoing challenges in others.Led by CEO Alan Lowe, who has announced his retirement, the company highlighted key financial results and strategic initiatives amidst a backdrop of leadership transition.In the second quarter, Lumentum exceeded the high end of its guidance range for both revenue and earnings per share.

Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!

<ul><li>Lumentum Holdings, a provider of optical and photonic solutions, reported mixed performance in its fourth quarter fiscal year 2024 results.</li><li>The company experienced a decrease in both the Cloud & Networking and Industrial Tech segments but made significant progress in expanding its customer base and advancing its technology for future growth, particularly in high-speed optical transceivers and datacom components.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Lumentum Holdings, a provider of optical and photonic solutions, reported mixed performance in its fourth quarter fiscal year 2024 results.The company experienced a decrease in both the Cloud & Networking and Industrial Tech segments but made significant progress in expanding its customer base and advancing its technology for future growth, particularly in high-speed optical transceivers and datacom components.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers

United States

Lumentum Holdings Inc. operates as a holding company. The Company, through its subsidiaries, supplies optical and photonic products. Lumentum Holdings serves data communications and telecommunications, networking, and life-sciences markets worldwide.

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Lumentum Holdings (LITE US)

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Lumentum Holdings: Can Its Transition to 4-Inch Wafers Supercharge Growth?

Lumentum Holdings recently shared its fourth-quarter and full fiscal year 2025 results, showcasing both strengths and a few areas to monitor. The...

Baptista Research

Lumentum Holdings: Increasing Demand for Indium Phosphide EMLs As A Pivotal Growth Lever!

Lumentum Holdings exhibited a mix of promising potential and notable challenges in its fiscal third-quarter results for 2025. A key positive...

Baptista Research

Lumentum Holdings: Their Recent Capacity Expansion and Technology Growth Is Fuelling Our Optimism!

Lumentum Holdings recently released its second-quarter fiscal year 2025 earnings, presenting a blend of strong performance in certain segments and...

Baptista Research

Lumentum Holdings Inc.: Expansion in High-Speed Optical Transceivers & Other Major Drivers

Lumentum Holdings, a provider of optical and photonic solutions, reported mixed performance in its fourth quarter fiscal year 2024 results. The...

Baptista Research

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