Movement Alert｜Credo Technology Overnight Rise 5.42%, Quarterly Earnings Release Imminent as DustPhotonics Acquisition Boosts Growth Outlook

Market Focus

Jun 01

On June 1, Credo Technology Group Holding Ltd rose 5.42% overnight, trading at $248.84/share, with trading volume of approximately $1.66 million.

On the news front, the company is scheduled to release its quarterly earnings report after market close today. Market consensus expects revenue of approximately $432 million, representing a 169.77% year-over-year increase, with adjusted earnings per share forecast at $1.03, up 273.01% year-over-year. The triple-digit growth expectations continue to bolster investor sentiment ahead of the release.

Additionally, the company recently completed its acquisition of DustPhotonics, integrating silicon photonics technology into its optical connectivity portfolio. The deal expands Credo's interconnect capabilities across SerDes, digital signal processing, and silicon photonics technologies, supporting optical solutions ranging from 800G to 3.2T for hyperscale data centers. The combined portfolio is expected to contribute to revenue growth in fiscal 2027 amid increasing AI network demand. Jefferies previously added the stock to its top picks list, while Goldman Sachs positioned optical networking as the next megatrend in AI infrastructure.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Jefferies previously added the stock to its top picks list, while Goldman Sachs positioned optical networking as the next megatrend in AI infrastructure.</p><p>(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. 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Jefferies previously added the stock to its top picks list, while Goldman Sachs positioned optical networking as the next megatrend in AI infrastructure.(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"corporation,dataReport","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}