Just noticed something interesting with LITE - analysts have been significantly more bullish lately. The average price target jumped to $565.29, which is a pretty substantial 55.75% bump from where they had it back in early February. That said, the range is pretty wide right now, with estimates swinging from $385 all the way up to $945 per share, so there's clearly some debate in the analyst community.

What caught my eye though is the institutional activity around LITE. There's been some real shuffling in the holdings - we're now seeing over 1,000 funds with positions in the company, and that number grew by 44 this past quarter. The bigger move is that several major players have been adjusting their bets. SmallCap World Fund loaded up pretty aggressively, increasing their stake by over 24%, while Capital World Investors actually trimmed their position slightly but still boosted their allocation weight significantly.

The options market is also leaning bullish on LITE - the put/call ratio sits at 0.78, which typically suggests traders are betting on upside. That said, the current price of $688 is still trading above where analysts are targeting on average, so there might be some near-term pullback priced in. Worth keeping on the radar if you're watching this space.