(Bloomberg) -- In 2015, executives at the Silicon Valley hardware firm known then as JDSU spun off a division making optical components and commercial lasers, believing the unit would be better off chasing growth opportunities on its own. Most Read from Bloomberg Ray-Ban Heir Rejects $3.9 Billion Offer for Stake in Family Firm Wall Street Eyes Biggest Treasury Sales Overhaul in Years Anthropic Commits to $895 Billion in Spending as Mega-IPO Nears S&P 500 Falls as Chip Rout Offsets US-Iran Hopes: Markets Wrap Wash Trades and 5,000% Gains: Inside Indonesia's MSCI Hustle They were right. When Lumentum Holdings Inc. began trading later that year, it had a roughly $1 billion market value and was reporting quarterly adjusted net income of about $15.
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