U.S. stocks movement: Lumentum Holdings surged on September 29 as Citi raised target price and AI optical interconnection.

Lumentum Holdings September 29 Surge Interpretation

Keywords: Citi raises target price, AI optical interconnect

1. On September 28, Citi maintained a “Buy” rating on Lumentum and raised its target price from $1,200 to $1,400.

2. On September 28, institutions projected that the optical switching market size will reach $11 billion by 2030, with growth driven by Google and Nvidia. Lumentum’s main business in optical networks and photonic devices, modules, and subsystems is related to this market.

3. On September 21, the company announced it will jointly demonstrate a high-density optical chip-to-chip interconnection system for AI expansion systems at ECOC 2026 with Qualcomm and Corning. The company’s fiscal 2026 net revenue increased by 83.2% year-on-year, and revenue from its cloud optical transceiver product line grew by more than 173%.

(Disclaimer: This content is generated by AI technology through the summarization of publicly available information and is for reference only. It does not constitute investment advice.)