Tag: $Lumentum

TD Cowen and Bank of America both downgraded Marvell Technology on Tuesday, citing concerns about the chipmaker’s all-stock acquisition of Lumentum.

Marvell Technology, is buying optical components maker Lumentum, in a $115 billion all-stock deal, including debt, as the custom chipmaker looks to challenge larger rival Broadcom,  and take advantage of the AI spending boom.

Lumentum Holdings Inc. (NASDAQ:LITE) shares rose 4.8% Monday following the company’s addition to the Nasdaq-100 Index.

Shares of Lumentum Holdings Inc rose in premarket U.S. trading on Friday, after the group reportedly said demand from the artificial intelligence industry for its optical components was on track to fill its order book through 2028.

Nvidia (NVDA), opens new tab will invest $2 billion each in photonic product makers Lumentum (LITE), opens new tab and Coherent (COHR), opens new tab to support the companies’ research and development and manufacturing operations in the U.S., the companies said on Monday.