Lumentum (LITE) shares fell 11.5% in mid-day trading on Thursday, last trading at $752.54 versus a previous close of $850.70, with volume of 6,092,261 shares, 11% above the average session. The article attributes the drop mainly to a sector-wide selloff in AI-optics stocks after a hotter-than-expected September inflation report, with peers Coherent and Applied Optoelectronics also declining. It notes the CFO reportedly sold about $25.7 million of stock ahead of earnings, though insider selling does not necessarily signal weaker fundamentals. Jefferies raised its price target to $1,250 and Stifel to $1,232, while the consensus target is $1,080.83. Lumentum's fiscal first-quarter update is scheduled for November 4.
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Original headline: Lumentum ( NASDAQ : LITE ) Shares Down 11 . 5 % – Time to Sell ?
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