Nvidia-backed Lumentum surges ahead of Nasdaq-100 inclusion

Optical-technology maker Lumentum's LITE.O shares up 15% at $1,039.22 and hit fresh record on Mon as it's set to join the Nasdaq-100 index .NDX next week

LITE's stock surpasses previous intraday all-time high of $1,021 achieved on May 5

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 down fractionally on the session

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, had roughly $70 bln market cap as of Fri

Stock now up 183% YTD and is 5th best performer among current SPX components

LITE 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

Co and its rival Coherent COHR.N in Mar each received a $2 bln investment from AI industry leader Nvidia NVDA.O

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

Meanwhile, NDX up 16% in 2026, twice the SPX's advance