Lumentum Shares Turn Lower After Premarket Trading Resumes

Lumentum shares turned lower in Monday premarket trading after climbing as much as 4.2% when trading resumed, as Marvell pursues a $115 billion acquisition of the company.

After trading resumed, the stock first extended its gains, then shifted into negative territory. The sequence marks a reversal within the premarket session, with the peak move and later direction both describing Lumentum’s shares.

Marvell plans to acquire Lumentum in an all-stock transaction valued at $115 billion. Marvell is making the deal as a bet on the artificial intelligence data-center sector, linking the proposed purchase to AI infrastructure demand. The acquisition remains a proposed transaction, not a completed purchase.

The transaction is expected to close in the first half of 2028. That timeline puts a longer-term deal milestone beside Monday’s short-term move in Lumentum shares. The 4.2% figure describes the stock’s peak premarket gain; $115 billion is the value of Marvell’s planned acquisition.