It seems like winning awards and the stock price have a negative correlation. On a more serious note, remember the beating LITE took around New Year's when that Barclays analyst downgraded saying they were going to have good earnings in Feb and May, but they weren't sure about Aug. Well, we know what they gave for guidance now.
If someone were to have seen the latest earnings and guidance and guessed what the stock price would have done, I really doubt anyone would have predicted this big of a drop. If it wasn't so painful, it would actually be humorous. The amount of messing around with the stock price that the big players do is ridiculous. And even more ridiculous that they get away with it.
LITE's stock price has definitely had that problem since it spun off.
Do you really think LITE's down move over the past month has anything to do with the company itself? I doubt it. It's probably a move based on technical retracements. Hedge would have good insights.
Run a P&F chart on LITE. You'll see that it had that big down move last Sep to Nov. Then it made a big move up. I t had a small pull back, then had a series of higher highs ( 5 columns of chart data). This last move brought it back to the medium term bullish support line. You can draw that line starting at the $17 level and moving toward $20.
Their earnings report and guidance seemed pretty good to me - certainly not something warranting a 20% pullback.