Lumentum Holdings Inc. (NASDAQ:LITE) hit a new 52-week high on Wednesday due to bullish analyst coverage and improved Q1 earnings, with the stock reaching $240.71 before closing at $232.75, up 23.57%. Investment firm Wolfe Research raised LITE’s price target to $240, expecting benefits from AI industry growth.

In Q1 of fiscal year 2026, Lumentum Holdings Inc. (NASDAQ:LITE) reported a net income of $4.2 million, a significant improvement from a $82.4 million net loss the previous year. Net revenues surged by 58.4% to $533.8 million. CEO Michael Hurlston highlighted strong momentum across data center, interconnect, and long-haul markets.

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Read more at Yahoo Finance: Lumentum (LITE) Hits New 52-Week High on Bullish Rating, Improved Q1 Earnings