$186.80
183.6% vs S&P 12m
Business overview
Custom silicon house with hyperscaler AI ASIC programs (Amazon Trainium derivative, others) plus optical PHY and DCI interconnect.
Smaller scale than Broadcom but similarly exposed to the custom AI ASIC wave; optical interconnect content is a key adjacency.
Products
- Custom AI ASICs
- Optical PHY
- DPU/SmartNIC
- Switch silicon
Competitors (2)
- Broadcom
- MaxLinear
Composite score
Higher = stronger overall research case
Fundamental68
Technical83
Valuation20
AI relevance78
Risk-adjusted (higher = safer)49
Segment-relative fundamental percentile: 50
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: 126.4%6M RS: 112.5%12M RS: 183.6%Vol30d: 61%DD52w: 0.0%
Financial summary
Curated, illustrative
Revenue
$8.19B
Growth (YoY)
22.1%
Gross margin
51.0%
Operating margin
18.7%
FCF
$1.44B
Capex
$307.71M
Net cash / (debt)
$-2.15B
ROIC
3.9%
Customer conc.
Medium
Valuation
Market cap
$163.55B
Enterprise value
$165.70B
P/E (TTM)
61.0x
Forward P/E
34.2x
EV / Sales
20.2x
EV / EBITDA
63.0x
P / FCF
113.4x
PEG
2.1x
Rule of 40
—
Risks
Severity 1 (low) to 5 (severe)
- 3Optical cycle exposure
- 4Customer concentration
Score components
What drove the composite
Growth74
Profitability61
Cash generation67
Balance sheet69
Moat / AI relevance75
Capital intensity (higher = lighter)76
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)95
Momentum (3/6/12m)80
Relative strength100
Realized vol (higher = lower vol)32
Segment peers
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