Lumentum Holdings (LITE) Stock Is Trending Overnight: Here's What You Should Know

Lumentum Holdings Inc. (NASDAQ:LITE) shares are trending on Thursday night. LITE rose 1.50% to $699.10 in after-hours trading on Thursday. The surge followed a regular-session dip of 11.37%, which closed the stock at $688.80, according to Benzinga Pro data. Lumentum Holding announced a major U.S. manufacturing expansion on Thursday. Greensboro Facility to Serve AI Data Centers According to the AI infrastructure company, the new 240,000-square-foot facility in Greensboro, North Carolina, acquired from semiconductor chipmaker Qorvo, will manufacture indium phosphide-based optical devices, including continuous wave and ultra-high-power lasers. Lumentum Holdings said the facility is expected to significantly expand its manufacturing capacity by leveraging 6-inch InP wafers, with production ramp-up targeted for mid-2028. Michael Hurlston, CEO of Lumentum, said, "Our customers are building the infrastructure that will define the next era of computing." NVIDIA Confirmed as Customer The company also noted that NVIDIA (NASDAQ:NVDA) will serve as a customer under previously announced strategic agreements, with the fab also supporting other AI infrastructure clients. Debora Shoquist, Executive Vice President of Operations at NVIDIA, said the expansion “strengthens supply continuity and positions us to meet growing infrastructure demands with confidence.” Analyst Sentiment Divided on LITE BNP Paribas analyst Karl Ackerman carries a $1,040 price target on LITE, implying roughly 47% upside, while Morgan Stanley (NYSE:MS) maintained an Equal-Weight rating and raised its price target from $520 to $595. Trading Metrics, Technical Analysis Lumentum Holdings, a San Jose-based provider of optical components for high-speed networking, has a market capitalization of $49.18 billion, with a 52-week high of $808.80 and a 52-week low of $45.66. The Relative Strength Index (RSI) of LITE stands at 52.34. Over the past 12 months, the large-cap stock has surged 941.90%. LITE is currently trading about 84% above its 52-week low. The stock’s long-term trend and strong positioning suggest continued upside potential. With a strong Momentum in the 99th percentile, Benzinga’s Edge Stock Rankings indicate that LITE has a positive price trend across all time frames. Photo Courtesy: Michael Vi on Shutterstock.com Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.