10 AI News You Probably Missed

7. Lumentum Holdings Inc. (NASDAQ:LITE)

Number of Hedge Fund Holders: 36

Lumentum Holdings Inc. (NASDAQ:LITE) produces optical and photonic technologies used in cloud data centers, AI/ML applications, and industrial technologies.

Barclays upgraded Lumentum (NASDAQ:LITE) to Overweight from Underweight and raised the price target to $125 from $80. The firm revised its outlook due to strong growth in LITE’s module business, driven by increased port counts and a shift to U.S. supply chains, enabling faster qualification by hyperscalers. Despite a weaker-than-expected Q1, Barclays expects significant growth in 2025, with a 59% year-over-year increase in port count and a 76% rise in Datacom revenue. The analyst raised LITE’s 2026 earnings per share estimate to $4.91, surpassing the street’s expectation of $4.36.