On August 21, Lumentum rose 4.44% in regular trading, trading at $894.695/share, with turnover of $470 million. The stock extended its prior session rebound, continuing to recover from a cumulative 13% pullback driven by surging US Treasury yields and AI infrastructure bubble concerns.

Multiple investment banks have raised target prices following the company's blowout Q4 results: JPMorgan raised to $1,280, BNP Paribas raised to $1,380, and Citi maintained its buy rating with a $1,200 target. The Q4 report showed revenue surging 109% year-over-year to $10.1 billion, non-GAAP EPS up 267% to $3.23, with Q1 revenue guidance midpoint of $12.5 billion exceeding consensus by approximately 8%.

Additionally, SK Hynix published research proposing an optics-centric architecture that could extend CPO technology to memory interfaces, providing incremental catalysts for the optical communications sector. Within the Communication Equipment sector, Arista Networks rose 3.03% and Cisco gained 1.32%.

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