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.

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?

<ul><li>Lumentum Holdings has become one of the market’s most dramatic AI infrastructure winners, yet it still sits outside the mainstream narrative that usually centers on chipmakers, cloud platforms, or software names.</li><li>That disconnect is what makes the story notable.</li><li>The company’s share price explosion has not been driven by consumer visibility or a simple product story, but by its role in a part of the AI stack that is harder to explain and therefore easier to overlook: optical connectivity.</li></ul>

Lumentum Holdings has become one of the market’s most dramatic AI infrastructure winners, yet it still sits outside the mainstream narrative that usually centers on chipmakers, cloud platforms, or software names.That disconnect is what makes the story notable.The company’s share price explosion has not been driven by consumer visibility or a simple product story, but by its role in a part of the AI stack that is harder to explain and therefore easier to overlook: optical connectivity.

Lumentum: The Hidden AI King Powering Nvidia’s Rise

<ul><li>Lumentum Holdings reported strong growth in its second quarter of fiscal year 2026, setting new records for both revenue and operating margins.</li><li>Despite some challenges and uncertainties, the company's performance showcases significant movement in capturing market opportunities, particularly in the AI and cloud sectors.</li><li>On the financial front, the company achieved a remarkable 65% year-over-year revenue growth, reaching $665.5 million, with a notable increase in non-GAAP operating margins, which improved by over 1,700 basis points.</li></ul>

Lumentum Holdings reported strong growth in its second quarter of fiscal year 2026, setting new records for both revenue and operating margins.Despite some challenges and uncertainties, the company's performance showcases significant movement in capturing market opportunities, particularly in the AI and cloud sectors.On the financial front, the company achieved a remarkable 65% year-over-year revenue growth, reaching $665.5 million, with a notable increase in non-GAAP operating margins, which improved by over 1,700 basis points.

Lumentum Holdings: Why the Shift From 800G to 1.6T Could Be a Defining Growth Moment!

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)

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

Lumentum: The Hidden AI King Powering Nvidia’s Rise

Lumentum Holdings has become one of the market’s most dramatic AI infrastructure winners, yet it still sits outside the mainstream narrative that...

Baptista Research

Lumentum Holdings: Why the Shift From 800G to 1.6T Could Be a Defining Growth Moment!

Lumentum Holdings reported strong growth in its second quarter of fiscal year 2026, setting new records for both revenue and operating...

Baptista Research

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