NEW YORK, Feb 13, 2026, 10:54 (ET) — Regular session
Lumentum Holdings Inc (NASDAQ: LITE) slipped 3.3% to $564.50 early Friday, coming off a previous close at $583.46. The shares swung between $540.17 and $594.07 in the session, with volume near 2.0 million shares.
The retreat follows a stretch of volatile action, putting Lumentum firmly in the spotlight among optical component stocks linked to data center expansion. With these kinds of swings, focus turns quickly from what triggered the move to what support level comes into play next.
That’s the critical point this time: what’s next isn’t a date circled for earnings, but the question of whether management can keep investors believing orders actually ship when promised — and at the margins they expect. When expectations are high, just a handful of hesitant hours can take a toll.
U.S. equities barely budged at the open, as investors digested a mild inflation print that left rate-cut bets intact. The Dow slipped 0.03%, S&P 500 nudged 0.02% higher, and the Nasdaq slipped 0.16%, according to Reuters. (Reuters)
Lumentum shares have been climbing since its fiscal Q2 numbers landed on Feb. 3. The company reported revenue of $665.5 million, a 65.5% increase from the same period last year, with non-GAAP EPS coming in at $1.67. Looking ahead, Lumentum projected fiscal Q3 revenue between $780 million and $830 million, and non-GAAP EPS ranging from $2.15 to $2.35. CEO Michael Hurlston described the company as “only at the starting line for two substantial opportunities: optical circuit switches (OCS) and co-packaged optics (CPO).” (Lumentum Investor Relations)
Non-GAAP results, as the company defines them, exclude some costs it claims mask the true business performance. OCS and CPO? Those are optics technologies built for data centers—essentially, they’re the wiring that moves information around. “Backlog” is just the stack of already-booked orders waiting to ship.
Friday saw a mixed bag among optical and networking stocks. Coherent gained 2.5%. Ciena barely moved.
But there’s a flip side. Should customers start pulling back on spending, or if rolling out those newer products turns out to be bumpier than guidance suggests, the stock could tumble fast — not much cushion left after such a strong run.
Another update is coming. Lumentum’s management team has meetings lined up at Susquehanna’s Annual Technology Conference on Feb. 26. Then, on March 2, they’re scheduled to present at Morgan Stanley’s Technology, Media & Telecom Conference, with a webcast available for that one. (Business Wire)
The company is lining up an investor briefing for OFC 2026 in Los Angeles, set for March 17. For traders tracking supply and demand pressures in AI-linked optics, these sessions might help shape expectations heading into the next earnings cycle. (Business Wire)
