Lumentum (LITE) Shares Advance Following Nasdaq-100 Inclusion

Lumentum Holdings Inc. (NASDAQ:LITE) shares gained 4.8% on Monday after the company was selected for inclusion in the Nasdaq-100 Index.

Nasdaq announced on Friday that Lumentum would replace CoStar Group Inc. (NASDAQ:CSGP) in the index before the opening bell on May 18, 2026.

The Nasdaq-100 tracks the 100 largest non-financial companies listed on the Nasdaq exchange.

Inclusion in the benchmark often leads to increased buying activity because index-tracking and passive investment funds are required to purchase shares in order to mirror the composition of the index.

As a result, funds linked to the Nasdaq-100 are expected to add Lumentum shares to their portfolios.

Lumentum specializes in optical and photonic technologies used in communications networks and commercial laser applications.

The company’s addition to the Nasdaq-100 marks a significant milestone tied to its expansion in market capitalization and growing presence among major technology-related companies listed on the exchange.