Lumentum stock jumps nearly 5% as Mizuho lifts target to $645 in AI optics trade
Lumentum Holdings shares jumped 4.8% to $590 Tuesday after Mizuho raised its price target, following strong quarterly results and guidance. The company reported $665.5 million in revenue and expects $780–$830 million next quarter, with a backlog over $400 million. Peers traded mixed. Lumentum will update investors at the Optical Fiber Communication Conference on March 17.