Lumentum slides amid broader optical sector selloff

Lumentum stock fell 6.2% in morning trading on Thursday as a selloff spread across the U.S. optical communications sector.

Peers including Credo Technology, Marvell Technology, Coherent, Applied Optoelectronics, and AXT also posted steep declines. The drop followed a 3.4% gain in the previous session.

The selloff continues a retreat that began when AI-linked optical stocks pulled back from their early-October highs. Lumentum has declined more than 25% from its 52-week peak of $1,143.

Insider selling has totaled roughly $175.8 million in shares over the past year, with no purchases on record. Two Form 4 filings were submitted on Monday, indicating fresh insider activity.

Zacks recently downgraded the stock to Hold. The broader analyst community maintains a Moderate Buy consensus on the stock.

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