Lumentum Holdings Inc. (NASDAQ:LITE) shares are trending on Wednesday.
Shares of the San Jose–based technology company rose 8.48% in after-hours trading on Tuesday, reaching $472 after the release of second-quarter earnings results.
Q2 Results Exceed Expectations
Lumentum Holdings reported earnings per share of $1.67, exceeding analysts’ estimates of $1.23 by 36%. Revenue increased by $263.3 million compared with the same period last year.
The company’s management issued guidance for the third quarter of 2026, forecasting earnings of between $2.15 and $2.35 per share.
Trading Metrics, Technical Analysis
The Relative Strength Index (RSI) of Lumentum Holdings stands at 66.09.
The company has a market capitalization of $30.85 billion and a 52-week trading range of $45.66 to $464.
The stock has delivered a staggering 416.07% gain over 12 months.
LITE is currently trading at about 93.1% of its 52-week range, placing it close to its annual high.
The stock’s substantial annual gain and strong positioning highlight its performance and growth potential.
Last week, Morgan Stanley (NYSE:MS) maintained an Equal-Weight rating on the stock with a $350 price target.
Price Action: LITE closed on Tuesday at $435.10, up 2.76%, according to Benzinga Pro data.
With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that LITE has a positive price trend across all time frames.
Photo Courtesy: Piotr Swat on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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