Mizuho raised its price target on Lumentum to $645 from $525 and kept an ‘Outperform’ rating on the shares.
- Lumentum Holdings surged to an all-time high of $616.52 on Tuesday.
- Earlier this month, Lumentum reported Q2 2026 earnings results, posting a 65.5% year-on-year leap in quarterly revenues.
- BofA analyst Vivek Arya raised the firm's price target on Lumentum to $600 from $520 and kept a ‘Neutral’ rating on the shares after it posted its results.
Shares of Lumentum Holdings Inc. (LITE) surged to an all-time high of $616.52 on Tuesday, even as the company garnered attention from Wall Street.
Earlier in the day, Mizuho raised its price target on Lumentum to $645 from $525, representing an upside of about 5.67% from its price levels of $610.36 at the time of writing.
The analyst kept an ‘Outperform’ rating on the shares of the company, according to TheFly.
Meanwhile, LITE shares were among the top-trending stocks on Stocktwits at the time of writing.
Blowout Q2 Results
Earlier this month, on Feb. 3, Lumentum posted second-quarter (Q2) 2026 earnings results, reporting a 65.5% year-on-year leap in quarterly revenues.
The company’s revenues came in at $665.5 million, exceeding analyst expectations of $652.08 million, as per data from Fiscal.ai. Meanwhile, the company posted earnings per share (EPS) of $1.67, compared to street expectations of $1.41.
Lumentum’s third-quarter (Q3) guidance also exceeded market expectations. Revenue forecasts were in the range of $780 million to $830 million, compared to Wall Street estimates of $808.73 million. The company expects diluted earnings per share in the range of $2.15 to $2.35.
The company said that much of its growth came from cloud transceivers, optical circuit switches (OCS), and co-packaged optics (CPO).
President and CEO of the company, Michael Hurlston, said in the earnings release that while the company’s forward guidance calls for more than 85% revenue growth, the company is only starting out on opportunities in its OCS and CPO segments.
“In OCS, we are scaling rapidly to meet extraordinary customer demand that has already driven our backlog well beyond $400 million. In CPO, we received an incremental multi-hundred-million-dollar order, deliverable in the first half of the calendar 2027,” Hurlston said.
Following its earnings release, the company received multiple price target updates. BofA analyst Vivek Arya raised the firm's price target on Lumentum to $600 from $520 and kept a ‘Neutral’ rating on the shares.
Meanwhile, Citi analyst Papa Sylla raised the firm's price target on Lumentum to $560 from $450 and kept a ‘Buy’ rating on the shares, saying that the firm’s consensus estimates do not fully reflect the company’s AI growth potential.
How Did Stocktwits Users React?
On Stocktwits, retail sentiment around LITE shares remained in the ‘bearish’ territory over the past 24 hours amid ‘low’ message volumes.
One user said that not only was the company testing new highs, it was also sustaining the growth. They predicted a price of $650 by the end of the week.
Shares of LITE have gained more than 657% in the past year.
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