Lumentum Holdings Inc. shares dropped 7.5% in morning trading on Monday. The decline came days after the stock reached a 52-week high of $1,143.

The company is participating in the 2026 OCP Global Summit in San Jose. Lumentum is demonstrating PCIe-over-optics connectivity for AI rack-scale architectures alongside Astera Labs and Corning at the event.

CFO Wajid Ali sold 24,542 shares at around $1,048.50 on October 1. The transaction reduced his position in the company.

The stock had risen above the CFO's sale price before Monday's decline.