Lumentum Holdings Inc. (NASDAQ:LITE) is one of the best NASDAQ stocks to buy and hold for 3 years. On June 3, Northland lifted the price target on Lumentum Holdings Inc. (NASDAQ:LITE) to $1,200 from $1,000 while maintaining an Outperform rating on the shares. The firm stated that following the previous day’s comments from Nvidia’s CEO inspiring strength in Marvell, which “bode well for the space,” along with the continued strong AI Data Center results from HPE (HPE), and capex funding for Alphabet. Northland lifted the price targets on several communications technology names, with further indications of both a sustainable multi-year cycle and short-term acceleration in AI optical demand from here.
Lumentum Holdings Inc. (NASDAQ:LITE) also received a rating update from Jefferies on May 7. The firm lifted the price target on the stock to $1,200 from $900 and maintained a Buy rating on the shares. The rating update came after what the firm described as “another rock-solid print”, adding that the March quarter report and June guidance make clear that margins are “finally beginning to inflect”.
Lumentum Holdings Inc. (NASDAQ:LITE) provides optical and photonic products. The company’s operations are divided into the Cloud and Networking, and Industrial Tech segments.
While we acknowledge the potential of LITE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
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