5 Best Communication Equipment Stocks to Buy Now

Lumentum is a California-based communications equipment company.  In the first fiscal quarter, the company’s revenue jumped 1% on a year-over-year basis to reach $452.4 million, beating the Wall Street estimates by $11.1 million. Optical communications revenue increased by 3% and totaled $428.5 million. Gross margins in the quarter came in at 52%, versus the consensus estimate of 47.9%.

Jim Simon’s Renaissance Technologies is one of the biggest hedge funds having stakes in Lumentum as of the end of the third quarter, with 813,604 shares of the company, worth $61.13 million. The net worth of these shares is $61.13 million.