NASDAQ:PLTS 31 December 2025

June 16, 2026, 1:57 PM EDT. Lumentum Holdings Inc. shares fell 7.27% to $887.68 on June 16, 2026, retreating after a recent 16.5% rally linked to AI optics demand. The sell-off reflects a broader tech and AI-infrastructure sector dip, with investors rotating into traditional economy sectors. Despite the setback, Lumentum's strong fundamentals remain intact, highlighted by a 90.1% year-over-year revenue increase to $808.4 million in the latest quarter and a 47.9% non-GAAP gross margin. Wall Street retains a bullish stance, with 14 Buy ratings and an average 12-month target price of $1,076.76. However, valuation concerns persist, as Lumentum trades at a high price-to-earnings ratio of about 164, well above sector averages. Market participants now await the crucial fiscal fourth-quarter earnings announcement to assess guidance delivery.