Lumentum Holdings: Upgrade To Strong Buy As Earnings Validate My Bull Thesis

Following my coverage of Lumentum Holdings (NASDAQ: LITE ) a few weeks ago, where I reiterated a buy rating due to my expectation that LITE remains well positioned to benefit from major secular trends, this post is to provide an updateI take a fundamentals-based approach to value investing.I disagree with the common misconception held by many investors that low multiple stocks must be cheap. I look for companies that offer the best long-term durability at the most affordable prices. Consequently, I have a p ...