On September 22, Lumentum rose 3.19% in regular trading, trading at $984.95/share, with turnover of $681 million. The stock continued its upward momentum following a major technology collaboration announcement.

On the news front, Lumentum announced a joint demonstration with Qualcomm and Corning of a high-density optical die-to-die interconnect solution targeting AI scale-up systems, to be showcased at ECOC 2026 in Malaga, Spain. The proof-of-concept integrates Qualcomm's D2D interface, Lumentum's 1060nm VCSEL optical platform, and Corning's multimode fiber connectivity, enabling high-bandwidth, low-power, low-latency links over tens of meters. The solution supports approximately 1 Tb/s/mm of shoreline bandwidth density with a roadmap to 4 Tb/s/mm, while Lumentum's optical engine delivers roughly 10 Tb/s of aggregate transceiver capacity. The tri-party collaboration signals accelerating commercialization of optical interconnect in AI-scale infrastructure. Broader sector sentiment has been supportive, with the semiconductor ETF recently gaining 1.9% and peers Ciena and Corning also rallying. Analysts remain bullish, with Rothschild & Co Redburn maintaining a Buy rating and a $1,294.85 price target, and Deutsche Bank initiating at Buy with a $1,200 target.

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