New York, Feb 26, 2026, 17:58 EST — After-hours
- Lumentum finished Thursday’s session down 6.4% at $677, slipping a bit further in after-hours trading.
- After surging the day before, the stock swung lower, leaving it stuck in a whipsaw.
- Next week, traders will be scanning the investor conference circuit for new hints on demand and forward guidance.
Lumentum Holdings Inc (LITE) dropped 6.4% to finish at $677 on Thursday, while the S&P 500 slipped 0.54% and the Dow hovered near flat. After the bell, Lumentum ticked down another 0.2% to $676.
The dip comes after a strong surge the day before. Lumentum jumped 8.75% Wednesday, data from an Investing.com large-cap movers list show. Shares of photonics rival Coherent added 6.96% in the same session.
Target chatter is swirling again as the stock keeps pushing past most of the posted targets. Nasdaq.com pointed to Fintel data showing Lumentum’s average 12-month target was bumped up to $565.29 this week, with individual estimates now stretching from roughly $385 all the way to $945.
Lumentum found itself on the list for investor conferences as well. Management planned to meet with investors this Thursday during Susquehanna’s annual technology event, the company said.
The trade is set against Lumentum’s latest earnings, released earlier this month. On Feb. 3, the company posted revenue of $665.5 million for the quarter, with non-GAAP earnings per share coming in at $1.67. For the fiscal third quarter, Lumentum projected revenue in the $780 million to $830 million range and non-GAAP EPS between $2.15 and $2.35. CEO Michael Hurlston described the results as a “standout,” highlighting that optical circuit switch demand had driven backlog past $400 million. SEC
Thursday’s decline turns attention to follow-through. Investors are watching to see if the outlook sticks in the weeks ahead—and if orders for optical circuit switches and co-packaged optics actually convert to shipments as fast as the stock suggests.
But those swings aren’t one-way. Should demand signals ease off or buyers push back delivery timelines, the stock’s rich valuation could quickly turn unforgiving.
Traders are eyeing Friday’s session to see if the selloff has legs, before shifting focus to the Morgan Stanley Technology, Media & Telecom Conference set for March 2, looking out for new remarks from management.
