On November 6, Lumentum rose 7.98% in regular trading, trading at $540.11 per share, with turnover of $371 million.

The move came as investors continued to digest Marvell's proposed all-stock acquisition of Lumentum, after earlier volatility tied to concerns that some customers could diversify sourcing once the merger closes.

Under the announced terms, Lumentum shareholders would receive 4.5 Marvell shares for each share held and own about 33% of the combined company, with closing expected in the first half of 2028. Recent market discussion has focused on whether customers such as Cisco and Ciena, for which Lumentum is a key narrow-linewidth laser supplier, may rebalance optical component purchases to reduce reliance on a supplier housed within a competitor's ecosystem. The latest same-day market alerts showed Lumentum up more than 10% in pre-market trading, indicating a near-term rebound after the post-deal selloff.

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