NEW YORK, December 28, 2025, 21:54 ET — Market closed
- Lumentum ended the last session down about 1.3% at $390.77.
- Investors are heading into year-end with Fed policy minutes due Tuesday and volatility risks from thin trading.
- Nasdaq’s earnings calendar flags Feb. 5, 2026 as the next expected report date.
Lumentum Holdings Inc shares last traded at $390.77, down 1.3% from their previous close, in the final U.S. session before the weekend.
The move comes as investors brace for the final stretch of 2025 with stocks near record peaks and the market focused on interest-rate expectations. Minutes — the detailed account of the Federal Reserve’s last policy meeting — are due Tuesday. [1]
“Momentum is certainly on the side of the bulls,” Paul Nolte, senior wealth adviser and market strategist at Murphy & Sylvest Wealth Management, said in a note on the week ahead. He and other strategists have also flagged the risk that year-end portfolio adjustments can amplify moves when volumes are light. [2]
Lumentum traded between $385.25 and $400.51 in the latest session, with about 1.6 million shares changing hands, according to market data.
In global markets, investors have been leaning into expectations for Fed rate cuts next year, a backdrop that has helped support technology shares tied to artificial intelligence spending. [3]
Lumentum is a designer and manufacturer of optical and photonic products used in cloud data centers and communications networks, and it also sells lasers for industrial applications. Its cloud and networking products include components used in data center interconnect and AI/ML (artificial intelligence/machine learning) infrastructure, according to the company profile. [4]
The stock has been sensitive to shifts in the rate outlook because higher borrowing costs can weigh more heavily on richly valued growth shares by increasing the discount rate investors apply to future earnings.
Company-specific catalysts were limited in the last two trading days, leaving the stock trading in line with broader risk sentiment and year-end positioning.
Investors are also looking ahead to the next earnings update for a read on demand from cloud and AI-linked customers and on profitability as the company scales higher-speed optical products.
In its most recent quarterly results release, Lumentum projected fiscal second-quarter revenue of $630 million to $670 million and a non-GAAP operating margin of 20% to 22%. Non-GAAP figures exclude certain items and are used by companies to show operating performance without one-time or non-cash charges. [5]
Nasdaq’s earnings calendar lists Feb. 5, 2026 as the next expected earnings date for Lumentum. [6]
Before the next session, traders are likely to keep one eye on Tuesday’s Fed minutes for any shift in officials’ debate on the pace of easing, and another on year-end flows that can exaggerate price swings in thin markets. [7]
On the chart, the $400 level is an immediate reference point after the stock’s recent intraday high near $400.5, while the $385 area marks the latest session low that traders often treat as near-term support.
References
1. www.reuters.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.reuters.com, 5. www.sec.gov, 6. www.nasdaq.com, 7. www.reuters.com
