On June 8, Credo Technology rose 5.13% in regular trading, trading at $218.48/share, with trading volume of $393 million.

On the news front, several Wall Street firms collectively raised their target prices on the company: Needham lifted its target from $220 to $275 while reaffirming a Buy rating, JPMorgan raised its target from $230 to $250 maintaining an Overweight rating, and Roth Capital significantly increased its target from $200 to $300. The upgrades were based on the company's Q4 revenue of $437 million, representing 157% year-over-year growth, with adjusted EPS of $1.16 exceeding consensus by 12.6%. Management projected that three optical interconnect product lines will collectively contribute over $600 million in revenue.

The broader semiconductor sector also rebounded, with Micron Technology up 8.79%, Marvell Technology up 9.17%, Intel up 10.45%, and Broadcom up 2.9%, providing additional tailwinds.

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