BUZZ-Lumentum rises after Needham raises PT

Reuters03-04 19:13
BUZZ-Lumentum rises after Needham raises PT

** Shares of photonic products maker Lumentum Holdings LITE.O rise 5.3% to $731.1 in premarket trading

** Needham raises PT on stock to $850 from $550, representing a ~22% upside to stock's last close

** On Monday, Nvidia said it will invest $2 billion in LITE to support research and development, future capacity and operations

** Needham says investment "affirms the critical supply of optical lasers in the data center as a core building block of AI infrastructure"

** We believe LITE sustains strong leadership in InP lasers and expect the company to maintain an edge in volume orders for CPO (co-packaged optics)- Needham

** 19 of 23 brokerages rate the stock "buy" or higher, 4 "hold"; their median PT is $580

** Stock had gained more than four-fold in 2025

(Reporting by Harshita Mary Varghese in Bengaluru)

((HarshitaMary.Varghese@thomsonreuters.com))

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