Lumentum Holdings Inc. (NASDAQ:LITE) is among the Stocks take center stage as Jim Cramer reviews the S&P 500’s top performers and Nasdaq 100’s biggest laggards during the first quarter.. Cramer mentioned the company’s recent addition to the S&P 500 and commented:
Next, the second best performer on the S&P was Lumentum Holdings. It’s a fiber optics play that was just added to the index last week, hence the 90.7% gain in the first quarter after the stock quadrupled last year. As long as AI data center construction continues unabated, I think these fiber optics stocks can continue to gain, although perhaps not as much as they have been gaining over the past 15 months. Still, good for them. Welcome to the big show, Lumentum.
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Lumentum Holdings Inc. (NASDAQ:LITE) designs and sells optical and photonic products, including lasers and components, for cloud networks, data centers and industrial applications. Cramer mentioned the company during the March 12 episode, saying:
If you’re looking for groups to buy the weakness as rising oil prices crush the stock market, you can do a lot worse than data center providers. Later this month, two optical companies will join the S&P 500: Coherent, which we spoke to earlier this week, and Lumentum. Now, both are receiving a $2 billion investment from NVIDIA, but Lumentum has performed better. It’s up nearly 900% in the past 12 months, despite a current 8% drop as part of that broader tech-led sell-off.
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