On August 27, Lumentum rose 3.53% in pre-market trading, trading at 973.32 USD/share, with turnover of 6.7653 million USD.

On the news front, NVIDIA reported fiscal Q2 results after market close on August 26, with revenue surging 106% year-over-year and all key metrics exceeding market expectations. The strong AI chip demand confirmed sustained expansion in data center capital expenditure, broadly lifting the optical communications sector. Peers Applied Optoelectronics rose 5.81%, Ciena gained 2.96%, and Arista Networks added 1.53%.

Additionally, Iran and Oman issued a joint statement proposing the establishment of a safe maritime corridor, easing geopolitical tensions and pushing U.S. Treasury yields lower. The previously elevated discount rates that had weighed on long-duration assets such as optical communications stocks saw some relief.

Lumentum reported fiscal Q4 earnings on August 11 with revenue up 109% to $1.03 billion, and next-quarter guidance midpoint significantly above consensus. Citi maintained a $1,200 target price while BNP Paribas raised its target to $1,380.

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