On August 26, Lumentum rose 3.11% in after-hours trading, trading at approximately $965.09/share, with turnover of $205 million.

On the news front, NVIDIA reported fiscal Q2 results after the close, delivering revenue growth of 106% year-over-year with all key metrics exceeding market expectations. The robust AI chip demand reaffirmed the continued expansion of data center capital expenditure, providing a strong catalyst for the optical communications sector. Peer stocks rallied in sympathy, with Coherent up 3.32%, Applied Optoelectronics up 4.24%, and Ciena up 2.94% in after-hours trading.

Lumentum's own fundamentals remain supportive. The company reported fiscal Q4 results on August 11 with revenue surging 109% year-over-year to $10.3 billion, while next-quarter guidance significantly exceeded consensus. Multiple investment banks subsequently raised target prices, with Citi maintaining a $1,200 target, BNP Paribas raising to $1,380, and JPMorgan lifting to $1,280.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)