Lumentum Holdings shares surge 8.52% after-hours on Q2 earnings beat and raised price targets.

Lumentum Holdings (LITE) surged 8.52% in after-hours trading following a strong Q2 earnings report and multiple analyst upgrades. The company reported EPS of $1.67, exceeding estimates of $1.39, and revenue of $665.5 million, surpassing expectations of $646.7 million. Analysts from Needham, Rosenblatt, Stifel, and B.Riley raised price targets to $550–$580, citing robust demand for AI infrastructure components and record margins. The results reinforced confidence in Lumentum’s role in optical technology for AI, with analysts highlighting growth catalysts like Optical Circuit Switching and Co-Packaged Optics. These developments, coupled with a 344% year-over-year earnings surge and a new all-time stock price of $557.65, drove the post-earnings rally.