Lates News

Credo Technology's stock price surged nearly 20% in the final trading session on Tuesday after the company announced the acquisition of Israeli silicon photonics developer DustPhotonics for $750 million in cash and approximately 920,000 Credo common shares, with a possibility of additional payment of up to approximately 3.21 million shares based on financial milestones. The total transaction value could reach up to $1.3 billion. The stock rose 12.35% yesterday following coverage by Jefferies with a target price of $175 and a "buy" rating.