On June 15, Lumentum Holdings rose 3.3% overnight, trading at $952.02/share, with turnover of $7.43 million. The stock continued its technical rebound as short-term selling pressure gradually dissipated following consecutive pullbacks.

On the news front, the communication equipment sector strengthened broadly, providing a supportive backdrop for the recovery. Within the sector, Applied Optoelectronics gained 3.95%, Ciena rose 3.82%, Nokia climbed 3.45%, and Arista Networks added 2.61%. The stock had previously surged over 12% on dual catalysts — a convertible bond-to-equity conversion that eliminated approximately $650.4 million in debt, and a $2 billion optical chip investment agreement with NVIDIA — before undergoing a sharp correction that included an 8%-plus single-day decline on June 9 amid CPO delay concerns.

Additionally, Northland Securities previously raised its price target on Lumentum to $1,200 while maintaining an Outperform rating, reflecting continued optimism toward the company's optical chip business outlook, which provides medium-term support.

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