Lumentum Stock (NASDAQ: LITE) Today: BofA Raises Price Target to $375 as AI Data Centers Tighten Laser Supply
Lumentum shares fell about 6% Tuesday, trading near $314.66 after opening at $334.75. Bank of America raised its price target to $375, citing strong demand for optical components, but kept a Neutral rating. The company added onsemi CFO Thad Trent to its board. Supply chain constraints in lasers, highlighted by TrendForce, are emerging as a key issue for the sector.