Jim Cramer Shares Key Insight About Lumentum (LITE)

We have recently shared Jim Cramer Made A Big Prediction About OpenAI & Discussed These 20 Stocks. Lumentum Holdings Inc. (NASDAQ:LITE) is one of the stocks discussed by Jim Cramer.

Optical communication products manufacturer Lumentum Holdings Inc. (NASDAQ:LITE)’s shares are up by a whopping 1,375% over the past year and by 125% year-to-date. Northland discussed the firm on April 20th, as it raised the share price target to $1,000 from $775 and kept an Outperform rating on the stock. The financial firm outlined that Lumentum Holdings Inc. (NASDAQ:LITE) could benefit from a growth in demand for optical connectivity from artificial intelligence applications. Like Northland, JPMorgan and Morgan Stanley also recently increased the share price target. The former hiked it to $710 from $595 and kept an Equal Weight rating on the back of sustainable enthusiasm for the sector. The latter raised it to $950 from $565 and kept an Overweight rating and cited visibility across growth drivers. Like the banks, Cramer also believes in Lumentum Holdings Inc. (NASDAQ:LITE)’s potential:

“Now fiber is going to take over, remember, that’s Lumentum, David, Coherent, Corning, also remember that Jensen took stakes in. . .I do think that Jensen’s buys that we should talk about.”

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