Optical tech co Lumentum rises on Nasdaq-100 addition

ReutersMay 11, 2026 12:16 PM

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Optical-technology maker Lumentum's LITE.O shares up 5.5% at $954 before the bell as it's set to join the Nasdaq-100 index .NDX next week

LITE to replace real-estate analytics firm CoStar CSGP.O in the NDX effective Mon, May 18, Nasdaq Global Indexes announced late Fri

CSGP stock ticks down 0.4% premarket

NDX comprises 100 of the largest Nasdaq-listed non-financial companies and is tracked by more than 200 investment vehicles with combined $600 bln in assets under management, according to Nasdaq's release

LITE, which joined the S&P 500 .SPX in Mar, has roughly $70 bln market cap

Stock has surged 145% YTD at Fri close, ranking it the 6th best performer among current SPX components

Co last week forecast qtrly rev above Wall Street's expectations, betting on strong demand for its high-speed optical components that are crucial for AI infrastructure

20 of 25 analysts rate the stock "strong buy" or "buy", 5 "hold"; median PT $1,100, per LSEG data

Meanwhile, NDX up about 16% in 2026 as of Fri, double the SPX's advance

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