5 Stocks Grabbing Investor Attention Today

3. Lumentum Holdings Inc. (NASDAQ:LITE)

Lumentum Holdings soared to a new all-time high on Tuesday, as investors took heart from two analyst upgrades for its stock, having raised their price targets by 50 percent and 66 percent.

In intra-day trading, Lumentum Holdings Inc. (NASDAQ:LITE) soared to its highest price of $803.58 before trimming gains to finish the session just up by 10.02 percent at $801.99 apiece.

This followed twin coverage on Monday, with BNP Paribas issuing a new price target of $1,040 versus $625 previously, while Craig Hallum upgraded the stock to $900 from $600 prior.

The figures marked a 30 percent and 12 percent upside potential from Lumentum Holdings Inc.’s (NASDAQ:LITE) latest closing price.

BNP maintained its “outperform” rating, while Craig reaffirmed its “buy” recommendation.

BNP said that its upgrade reflected Lumentum Holdings Inc.’s (NASDAQ:LITE) recent design wins, which include the production acceleration of its 100G and 200G EML chipsets in 800G and 1.6T optical modules.

“We are raising our out-year estimates to account for the company’s new multi-year, multi-billion-dollar optical circuit switch win,” BNP said.

“Our estimates also include higher volume expectations of 400mW ultra-high-powered lasers following Nvidia’s recent $2B investment to secure multi-year capacity, as Nvidia seeks to ramp co-packaged optical switches in upcoming Vera Rubin AI infrastructure,” it added.