Optical Communications Stocks Rebound in U.S. Trading, Marvell Technology Surges Over 5%
Stock News
Jul 06
Shares in the optical communications sector experienced a recovery in Monday's trading session, following a decline at the end of the previous week.
As of the latest update, Marvell Technology (MRVL.US) was up more than 5%. Applied Optoelectronics (AAOI.US) gained over 4.8%, Coherent (COHR.US) rose more than 4.4%, and Lumentum (LITE.US) advanced over 1.7%.
The positive movement follows a significant price target revision for Marvell Technology. UBS analyst Timothy Arcuri raised his price target for the stock from $230 to $340 on June 29, while maintaining a "Buy" rating on the shares.
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