Optical and Storage Shares Rise Early in U.S. Trading as AXT Gains 15.1%

A selection of U.S.-listed semiconductor, storage and optical communications shares moved higher in early trading Wednesday, with AXT (AXTI) showing the biggest rise in the listed group at 15.1%. The names spanned chipmaking, data storage and optical communications.

Four of the names had gains of 10% or more: AXT, SanDisk (SNDK) at 10.16%, Applied Optoelectronics (AAOI) at 10.1%, and Lumentum (LITE) at 10.2%. Elsewhere in storage, Seagate Technology (STX) climbed 6.89%, Micron Technology (MU) rose 6.75% and Western Digital (WDC) advanced 4.94%. Among the other reported movers, Intel (INTC) gained 5.23%, while Marvell Technology (MRVL), Ciena (CIEN), Coherent (COHR) and Fabrinet (FN) were up 6.46%, 6.1%, 5.9% and 5.02%, respectively.

NVIDIA (NVDA) rose 1.97%, while Advanced Micro Devices (AMD) added 1.76%. Each move was below the gains for AXT, SanDisk, Applied Optoelectronics and Lumentum, whose shares posted the largest advances in the reported group. Across all 14 companies listed, returns were positive, from 1.76% for AMD to 15.1% for AXT.