Credo jumps after deal to buy DustPhotonics

Credo Technology Holding

14/04/2026 11:28

** Shares of connectivity solutions provider Credo Technology Group CRDO.O jump 16.6% to $156.77 premarket

** Company agrees to acquire privately held optical connectivity firm DustPhotonics. It will offer $750 mln upfront in cash and about 920,000 Credo shares

** Company can also issue up to an additional 3.21 mln shares if DustPhotonics meets certain financial targets

** The acquisition supports CRDO's push into silicon photonics and high-speed optical connectivity for AI data centers amid surging demand for faster, more energy-efficient connectivity

** Average rating of 19 analysts on the stock is "buy"; median PT at $200 - data compiled by LSEG

** As of last close, CRDO down 6.6% YTD

(Reporting by Tharuniyaa Lakshmi in Bengaluru)

((tharuniyaa@thomsonreuters.com))