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Wajeeh Khan

Lumentum Just Scored a New Upgrade. Here's What to Know.

Lumentum LITE Barclays Tom OMalley Lumentum Holdings

Lumentum Holdings (LITE) stock is extending gains on Monday after a senior Barclays analyst issued a bullish note in favor of the semiconductor equipment specialist. In a research note on July 20, Tom O’Malley upgraded LITE to “Overweight” and maintained a bold $1,000 price target, indicating potential upside of nearly 30% from current levels.

Note that Lumentum shares have already been an outperformer in 2026 — currently trading at more than 2x their price at the start of this year.

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