New York, Feb 26, 2026, 17:58 EST — After-hours
- Lumentum shares ended down 6.4% at $677 on Thursday; off slightly after the bell.
- The slide followed a sharp gain a day earlier, keeping the stock in a whipsaw.
- Traders are watching next week’s investor conference circuit for any fresh signals on demand and guidance.
Shares of Lumentum Holdings Inc (LITE) slid 6.4% to close at $677 on Thursday as U.S. stocks eased, with the S&P 500 down 0.54% and the Dow little changed. The stock edged down about 0.2% to $676 in after-hours trading. 1
The pullback follows a sharp run the previous session. Lumentum rose 8.75% on Wednesday, according to an Investing.com list of large-cap movers, alongside a 6.96% climb in photonics peer Coherent. 2
Target talk has crept back into the conversation as the stock’s price has outrun many published estimates. Nasdaq.com, citing Fintel data, said Lumentum’s average one-year price target was revised to $565.29 this week, with estimates ranging from about $385 to $945. 3
Lumentum has also been on the investor-conference schedule. The company said management was set to meet investors on Thursday at Susquehanna’s annual technology conference. 4
The backdrop for the trade remains the company’s last earnings update earlier this month. On Feb. 3, Lumentum reported quarterly revenue of $665.5 million and non-GAAP earnings per share (a profit measure that excludes certain items) of $1.67, and guided fiscal third-quarter revenue to $780 million-$830 million and non-GAAP EPS to $2.15-$2.35. CEO Michael Hurlston called the quarter a “standout” and said optical circuit switches had pushed backlog “well beyond $400 million.” 5
Thursday’s drop puts the spotlight back on follow-through. Investors want to see whether that outlook holds up in coming weeks, and whether optical circuit switch and co-packaged optics orders translate into shipments at the pace implied by the stock.
But the swings cut both ways. If demand indicators cool, or if customers stretch out delivery schedules, the stock’s premium valuation leaves less room for disappointment.
For now, traders will watch Friday’s session for signs the selling extends, and then turn to the Morgan Stanley Technology, Media & Telecom Conference on March 2 for any fresh commentary from management. 6
