10 Fastest Growing Edge Computing Stocks to Buy Now

8. Lumentum Holdings Inc. (NASDAQ:LITE)

On March 18, 2026, Morgan Stanley raised its price target on Lumentum Holdings Inc. (NASDAQ:LITE) to $595 from $520 and maintained an Equal Weight rating following the company’s investor briefing. The firm said it came away “incrementally positive” on optical circuit switching (OCS) demand, highlighting a newly disclosed multi-billion-dollar OCS order. Morgan Stanley noted that increasing optical content, along with Lumentum’s exposure to co-packaged optics (CPO), OCS, and transceivers, supports higher estimates going forward.

On March 17, 2026, at the Nokia Optical Fiber Communication Conference, Lumentum’s executives pointed to improving execution across engineering and manufacturing, citing better margins, delivery performance, and revenue trends in the cloud transceiver business. They also disclosed a newly signed multi-year, multi-billion-dollar agreement with a major OCS customer, which is expected to drive sustained revenue growth in the segment.

On March 10, 2026, Lumentum Holdings Inc. (NASDAQ:LITE) announced it will be added to the S&P 500 index, effective before the market opens on March 23.

Lumentum Holdings Inc. (NASDAQ:LITE) manufactures optical and photonic products, serving cloud, networking, and industrial markets globally.