US Stock Market Move | Lumentum (LITE.US) rose more than 3%, accumulating a 370% increase year-to-date.

On Wednesday, the US stock of Lumentum (LITE.US) in optical communications rose at the opening, now up over 3%, breaking through $400 to reach a new all-time high. The stock has risen more than 370% so far this year. In terms of news, independent research provider CFRA raised the company's 12-month price target by $100 to $450, equivalent to 55.0 times the earnings forecast for the 2027 fiscal year (June), a premium over its 10-year historical average price-to-earnings ratio of 51.1 times. They also raised their earnings forecast for the 2026 fiscal year by $0.05 to $5.69 per share, and for the 2027 fiscal year by $0.19 to $8.18 per share.