Abnormal movement in US stocks | Lumentum (LITE.US) rose more than 3%, with a cumulative increase of 370% so far this year.

According to the Securities Times app, on Wednesday, the US stock of Lumentum Communications (LITE.US) surged at the opening, rising over 3% and breaking through $400 to reach a new all-time high. The stock has gained over 370% year-to-date. On the news front, independent research provider CFRA has raised the company's 12-month target price by $100 to $450, which is equivalent to 55.0 times the forecasted earnings per share for the fiscal year ending in June 2027. This represents a premium compared to the company's 10-year historical average price-to-earnings ratio of 51.1. The forecasted earnings per share for the fiscal year ending in 2026 have been raised by $0.05 to $5.69, and the forecast for the fiscal year ending in 2027 has been raised by $0.19 to $8.18.