Lumentum Holdings Inc. (NASDAQ: LITE)

Lumentum Holdings Inc., referred to as Lumentum, is a key player in the optical and photonic products industry, with its stock symbol being LITE. The company operates in two main segments: Optical Communications (OpComms) and Commercial Lasers (Lasers), addressing a diverse range of end-market applications. Lumentum's products and services are utilized in various markets and applications, including telecommunications, data communications, consumer and industrial markets, sheet metal processing, general manufacturing, solar cell processing, biotechnology, graphics and imaging, remote sensing, and precision machining.

The OpComms segment is a significant contributor to Lumentum's revenue, addressing various markets and applications. Lumentum's products in this segment include a wide range of components, modules, and subsystems that support customers, including carrier networks for access, metro, long-haul, and submarine applications. The company maintains leading positions in these fast-growing OpComms markets through its extensive product portfolio, including reconfigurable optical add/drop multiplexers, coherent dense wavelength division multiplexing pluggable transceivers, and tunable small form-factor pluggable transceivers.

The Lasers segment serves customers in various markets and applications, with Lumentum's Lasers products used in a variety of OEM applications, including diode-pumped solid-state, fiber, diode, direct-diode, and gas lasers. These products are used in a variety of applications, such as laser pumping, thermal exposure, illumination, ophthalmology, image recording, printing, plastic welding, and selective soldering.

Lumentum generates revenue by providing primary products and services to its customers, which include reconfigurable optical add/drop multiplexers, coherent dense wavelength division multiplexing pluggable transceivers, tunable small form-factor pluggable transceivers, diode-pumped solid-state, fiber, diode, direct-diode, and gas lasers. These products are used in various applications, such as telecommunications, data communications, consumer and industrial markets, sheet metal processing, general manufacturing, solar cell processing, biotechnology, graphics and imaging, remote sensing, and precision machining.

In the OpComms segment, Lumentum competes against Apple, Ciena, Huawei, and Nokia, among others. The company's competitive advantage lies in its technology leadership through innovation with its customers, cost leadership, and functional integration. In the Lasers segment, Lumentum leverages its long-term relationships with OEM customers to drive commercial laser innovation. Lumentum's key competitors in the OpComms segment include Apple, Ciena, Huawei, and Nokia, while in the Lasers segment, the company does not have any single customer that generates net revenue of 10% or more of its total net revenue.

Lumentum's customers include Apple, Ciena, Huawei, and Nokia, among others. During fiscal 2023, Apple accounted for 12.1% of the company's net revenue, compared to 28.7% in fiscal 2022 and 30.2% in fiscal 2021.

Lumentum's product and service offerings include a wide range of components, modules, and subsystems, diode-pumped solid-state, fiber, diode, direct-diode, and gas lasers, reconfigurable optical add/drop multiplexers, coherent dense wavelength division multiplexing pluggable transceivers, and tunable small form-factor pluggable transceivers. These products are used in various applications, such as telecommunications, data communications, consumer and industrial markets, sheet metal processing, general manufacturing, solar cell processing, biotechnology, graphics and imaging, remote sensing, and precision machining.