5 Fastest Growing S&P 500 Stocks to Buy Now

In this article, we will list the 5 Fastest Growing S&P 500 Stocks to Buy Now. Please visit 10 Fastest Growing S&P 500 Stocks to Buy Now if you would like to see the extended list and the methodology behind it.

5. Lumentum Holdings Inc. (NASDAQ:LITE)

On May 11, 2026, Lumentum Holdings Inc. (NASDAQ:LITE) announced that it will be added to the Nasdaq-100 Index, with inclusion set to take effect before the market opens on May 18, 2026. The company described the addition as a significant milestone following its progress over the past year.

On May 6, 2026, Raymond James analyst Simon Leopold raised the firm’s price target on Lumentum Holdings Inc. (NASDAQ:LITE) to $1,014 from $491 while maintaining an Outperform rating on the shares. The firm said Lumentum delivered a modest beat-and-raise quarter supported by improving operational execution and emerging growth drivers, including co-packaged optics, optical circuit switching, and scale-up infrastructure. Raymond James added that these trends support expectations for continued triple-digit growth and margin expansion despite a relatively muted market reaction following earnings.

Rosenblatt analyst Mike Genovese also raised the firm’s price target on Lumentum Holdings Inc. (NASDAQ:LITE) to $1,300 from $900 while maintaining a Buy rating on the shares. The firm said Lumentum appears on track to achieve or exceed its target of reaching $1.25B in quarterly revenue by the end of calendar 2026 and $2B in quarterly revenue by the end of 2027, while margins are progressing ahead of internal targets.

Lumentum Holdings Inc. (NASDAQ:LITE) manufactures and sells optical and photonic products across the Americas, Asia-Pacific, Europe, the Middle East, and Africa.