LITE’s 7.8% Drop Doesn’t Break the Growth Thesis

I see no supplied evidence that explains today’s −7.75% move, so I won’t invent a catalyst. The pullback is substantial, but the growth outlook remains strong: Q3 revenue rose 136.5% year over year to $1,263M, while consensus expects FY 2027 EPS of $24.940 and FY 2028 EPS of $40.135, up 60.9%. That growth brings the estimated P/E down from 23.1x to 14.4x. Analysts’ median target of $1,150.00 also implies +99.6% from here. Still, the 40.5% three-month decline and just $38M of Q3 free cash flow argue against an aggressive add. I hold one share, and today’s move does not change my view: I’ll add a small amount, while recognizing the trend and cash conversion risks.