On June 5, Credo Technology rose 6.06% in regular trading, trading at $225.33/share, with trading volume of $1.156 billion, notably bucking a broad semiconductor sector selloff.

On the news front, multiple Wall Street institutions collectively raised their target prices following the company's strong Q4 fiscal results. Needham raised its fiscal 2027 revenue estimate from $23.5 billion to $24.5 billion and lifted its target price from $220 to $275 while reiterating a Buy rating. JPMorgan maintained its Overweight rating and raised its target from $230 to $250. Roth Capital significantly raised its target from $200 to $300 while maintaining a Buy rating.

The upgrades followed Credo's Q4 fiscal results showing revenue of $437 million, up 157% year-over-year, and adjusted EPS of $1.16, beating consensus by 12.6%. Management projected its three optical interconnect product lines will collectively contribute over $600 million in revenue, with the CEO emphasizing that network reliability has become the core bottleneck in AI infrastructure. The strong institutional endorsement helped Credo decouple from sector peers, with Marvell Technology down 7.92%, AMD down 6.61%, and Micron down 6.11% on the same day.

(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.)