US Stocks Movement | Marvell Technology rises over 7%, leading optical communication concept stocks

Glonghui, June 18th｜Optical communication concept stocks broadly rose, with Marvell Technology up over 7%, Corning up over 6%, Credo Technology, Astera Labs, and Tower Semiconductor all up more than 4%, Coherent and Broadcom up over 3%, and Himax Technologies up more than 2%. On the news front, Marvell Technology will be officially included in the S&P 500 Index on June 22 (next Monday), and this adjustment is expected to trigger passive allocation demand from index funds. In addition, KeyBanc raised Marvell Technology's target price from $260 to $385.