Lumentum (LITE) shares increased by 7.9% on [date], closing at $700.81, driven by a notable rise in trading volume compared to typical sessions. This follows an 8.2% gain in the past four weeks. The company, known for its optical networking products, is anticipating quarterly earnings of $2.25 per share, which would mark a year-over-year increase of 294.7%. Expected revenues are projected to reach $805.39 million, an 89.4% increase from the previous year.
Both Lumentum and Viavi Solutions (VIAV), which gained 5.2% to close at $32.44, are members of the Zacks Communication – Components industry. Viavi is projected to report an EPS of $0.22 for the upcoming quarter, reflecting a 46.7% increase from last year. Lumentum currently holds a Zacks Rank #1 (Strong Buy), while Viavi holds a Zacks Rank #2 (Buy).
