On September 18, Lumentum rose 3.88% in regular trading, trading at $921.565/share, with turnover of $369 million. The rebound follows an earlier intraday decline of over 3% triggered by concerns that the Federal Reserve's 25-basis-point rate hike from the prior session would exert delayed pressure on high-valuation growth stocks.

On the news front, all three major U.S. indices opened sharply higher, with the Dow up 0.81%, S&P 500 up 1.19%, and the Nasdaq up 1.55%. Heavyweight tech names including NVIDIA, Amazon, and Tesla surged over 2%, driving a broad-based tech recovery that lifted the optical communication sector. The prior trading day, Lumentum had surged 9.6% to lead the S&P 500, part of a broader sector rebound following earlier heavy losses caused by AI infrastructure spending slowdown concerns from major cloud players. Freedom Capital Markets technical research director Paul Meeks characterized recent gains as a bounce from prior AI development pace fears.

Notably, Rothschild & Co Redburn recently raised its price target on Lumentum to $1,294.85 while maintaining a Buy rating, and the stock carries an average analyst target of $1,142.92.

(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.)