Q2 Earnings Beat Leads to Bullish Views on Lumentum (LITE)

Core Insights - Lumentum Holdings (NASDAQ:LITE) is recognized as one of the top communication equipment stocks by hedge funds, reflecting strong market confidence in the company [1]. Group 1: Analyst Ratings and Price Targets - On February 4, J.P. Morgan analyst Samik Chatterjee raised the price target for Lumentum Holdings from $350 to $565, maintaining an Overweight rating after the company reported strong fiscal Q2 results that exceeded consensus estimates [1]. - Christopher Rolland from Susquehanna also increased his price target for Lumentum from $420 to $550, reaffirming a Positive rating, citing strong quarterly results and a favorable medium-term outlook for OCS and CPO scale-out in new markets [2]. Group 2: Company Overview - Lumentum Holdings specializes in developing and selling optical and photonic products, focusing on high-performance lasers, modules, and subsystems [3]. - The company operates in two segments: Cloud & Networking and Industrial Tech, serving various markets including cloud, networking, consumer electronics, and industrial [3].