Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>To make my content readable, this is an optics-only earnings update.</li><li>I will discuss everything together and put together a high-level overview.</li><li>The specific things I am interested in are Marvell’s ZR and custom silicon.</li></ul>

To make my content readable, this is an optics-only earnings update.I will discuss everything together and put together a high-level overview.The specific things I am interested in are Marvell’s ZR and custom silicon.

Optics Earnings (FN, ANET, COHR, LITE, AAOI)

Equity Bottom-Up

<ul><li><a href="https://www.smartkarma.com/entities/entegris-inc" target="_blank" data-smartkarma-citation="entities:12493" rel="noopener">Entegris Inc (ENTG US)</a> - Memory spending is happening next year, but MSI remains weak.</li><li><a href="https://www.smartkarma.com/entities/astera-labs-inc" target="_blank" data-smartkarma-citation="entities:40921" rel="noopener">Astera Labs (ALAB US)</a> - This is now the second way to play a levered Trainium ramp, as they have extensive content with <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409" rel="noopener">Amazon.com Inc (AMZN US)</a>.</li><li><a href="https://www.smartkarma.com/entities/lattice-semiconductor-corp" target="_blank" data-smartkarma-citation="entities:7855" rel="noopener">Lattice Semiconductor (LSCC US)</a> - Standard kitchen sink; I like the stock long-term.</li></ul>

Entegris Inc (ENTG US) - Memory spending is happening next year, but MSI remains weak.Astera Labs (ALAB US) - This is now the second way to play a levered Trainium ramp, as they have extensive content with Amazon.com Inc (AMZN US).Lattice Semiconductor (LSCC US) - Standard kitchen sink; I like the stock long-term.

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

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.

<ul><li>Lumentum Holdings has suddenly become one of the most talked-about names in the AI infrastructure trade.</li><li>Its shares surged about 17% to a record close of $1,053.09 after news that the company would join the Nasdaq 100 on May 18, replacing CoStar.</li><li>The move reignited a rally that had briefly paused after mixed fiscal third-quarter earnings, where profit beat expectations but revenue growth still failed to fully satisfy Wall Street’s elevated hopes.</li></ul>

Lumentum Holdings has suddenly become one of the most talked-about names in the AI infrastructure trade.Its shares surged about 17% to a record close of $1,053.09 after news that the company would join the Nasdaq 100 on May 18, replacing CoStar.The move reignited a rally that had briefly paused after mixed fiscal third-quarter earnings, where profit beat expectations but revenue growth still failed to fully satisfy Wall Street’s elevated hopes.

Lumentum: The Tiny AI Stock Behind Nvidia’s Next Big Boom!

<ul><li>Lumentum Holdings reported a substantial third quarter for fiscal year 2026, with revenue reaching a record $808 million, reflecting a 90% year-over-year increase.</li><li>This growth was primarily driven by its transceiver business and laser chips, with components revenue rising 77% year-over-year to $533 million and systems revenue more than doubling to $275 million.</li><li>Shipments of narrow linewidth laser assemblies increased by over 120% year-over-year, while pump laser shipments grew 80%, both categories currently facing supply constraints due to strong demand.</li></ul>

Lumentum Holdings reported a substantial third quarter for fiscal year 2026, with revenue reaching a record $808 million, reflecting a 90% year-over-year increase.This growth was primarily driven by its transceiver business and laser chips, with components revenue rising 77% year-over-year to $533 million and systems revenue more than doubling to $275 million.Shipments of narrow linewidth laser assemblies increased by over 120% year-over-year, while pump laser shipments grew 80%, both categories currently facing supply constraints due to strong demand.

Can Lumentum Holdings Scale Optical Interconnect Demand Without New Bottlenecks?

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
  <li>Lumentum is strategically positioned as a critical enabler of the artificial intelligence and data center revolution, providing essential high-speed optical components that are fundamental to modern network infrastructure.</li>
  <li>The company is experiencing a significant financial turnaround, with recent quarterly results showing dramatic year-over-year revenue growth and margin expansion, reversing a period of negative performance. This recovery is largely driven by surging demand from cloud and AI customers.</li>
  <li>Reflecting its strong growth prospects in the AI sector, the company's stock trades at a significant valuation premium to its peers. This elevated valuation presents a key risk, as it is highly dependent on sustained, high-growth execution and the continuation of current industry trends.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  Lumentum is strategically positioned as a critical enabler of the artificial intelligence and data center revolution, providing essential high-speed optical components that are fundamental to modern network infrastructure.
  The company is experiencing a significant financial turnaround, with recent quarterly results showing dramatic year-over-year revenue growth and margin expansion, reversing a period of negative performance. This recovery is largely driven by surging demand from cloud and AI customers.
  Reflecting its strong growth prospects in the AI sector, the company's stock trades at a significant valuation premium to its peers. This elevated valuation presents a key risk, as it is highly dependent on sustained, high-growth execution and the continuation of current industry trends.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Lumentum Holdings (LITE US) - May 2026

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lumentum Holdings (LITE US)

Optics Earnings (FN, ANET, COHR, LITE, AAOI)

To make my content readable, this is an optics-only earnings update. I will discuss everything together and put together a high-level overview.

Fabricated Knowledge

Earnings: ENTG, ALAB, LSCC, SITM, QCOM, MCHP, WOLF, ARM, ACLS, AAOI, ANET, LITE, COHR

What a week (I’m a bit late on this)! I wanted to give a quick overview of all the companies that reported last week. Lattice Semiconductor -...

Fabricated Knowledge

Lumentum: The Tiny AI Stock Behind Nvidia’s Next Big Boom!

Lumentum Holdings has suddenly become one of the most talked-about names in the AI infrastructure trade. Its shares surged about 17% to a record...

Baptista Research

Can Lumentum Holdings Scale Optical Interconnect Demand Without New Bottlenecks?

Lumentum Holdings reported a substantial third quarter for fiscal year 2026, with revenue reaching a record $808 million, reflecting a 90%...

Baptista Research

Primer: Lumentum Holdings (LITE US) - May 2026

Lumentum is strategically positioned as a critical enabler of the artificial intelligence and data center revolution, providing essential...

αSK Primers

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)