10 Big Names Investors Are Dumping

7. Lumentum Holdings Inc. (NASDAQ:LITE)

Lumentum Holdings declined by 4.42 percent on Wednesday to close at $163.34 apiece, as overall pessimism for the semiconductor industry spilled over to its stock.

This followed the Chinese government’s announcement on Saturday that it launched two investigations to look into allegations of US semiconductor companies’ dumping practices in China which has led to their margins exceeding 300 percent.

While China clarified that the probe will only target general purpose interface chips and gate driver chips built using process nodes of 40nm and above, and does not at all directly affect Lumentum Holdings Inc. (NASDAQ:LITE), the portfolio rebalancing was in order to mitigate risks from the ongoing trade tensions between the US and China.

In other news, Lumentum Holdings Inc. (NASDAQ:LITE) recently closed a $1.1 billion offering of senior convertible notes due 2032

The notes will bear interest at a rate of 0.375 percent annually, payable semi-annually in arrears on March 15 and September 15 of each year, beginning on March 15, 2026. The notes will mature on March 15, 2032, unless earlier converted, redeemed or repurchased.