LITE

Analyst target raises behind the outperformance

• LITE +3.79% on the last session vs SPY +0.74%: +3.1 pts of stock-specific move.
• Aftermath, 52-week high (Oct 2): After its 12 new 52-week highs in the past 5 years, LITE typically gained 16.9% over the next month (median) and was higher 83% of the time; half the outcomes fell between +4.3% and +24.6%. An ordinary month: +2.7%. Among S&P 500 stocks after new 52-week highs, that ranks #93 of 480.
• 2 analyst actions in the past 10 days (1 positive, 0 negative); latest: Citigroup maintained Buy, raised target $1,200 → $1,400.
• 7 insider or congressional trades in the past 30 days.
• Market backdrop (Fri): Average Hourly Earnings m/m 0.1% vs 0.3% expected (cooler); Non-Farm Employment Change 29K vs 89K expected (weaker); S&P futures +0.41%, 10-year yield -5bp in the 30 minutes after.