Credo Technology Group (NASDAQ:CRDO) Trading 11.9% Higher – Here’s What Happened

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shot up 11.9% during mid-day trading on Thursday . The stock traded as high as $116.29 and last traded at $114.74. 11,607,680 shares changed hands during trading, an increase of 60% from the average session volume of 7,255,705 shares. The stock had previously closed at $102.54.

Credo Technology Group News Roundup

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Earnings estimate revisions are rising after Credo’s beat-and-raise; Zacks flags upside from upward revisions to EPS estimates, which supports near-term momentum. Earnings Estimates Rising for Credo Technology Group (CRDO): Will It Gain?
• Positive Sentiment: Research upgrades and buy reiterations are piling up (Zacks upgraded to strong-buy; Needham and others reaffirm buys), which supports investor demand. Zacks.com Needham Reaffirms Buy
• Positive Sentiment: Strategic M&A and partnerships: Credo acquired CoMira and struck a TensorWave tie-up to deepen its AI data-center connectivity IP — these inorganic moves strengthen its AI roadmap and revenue runway. Credo Technology Leans on Inorganic Push to Strengthen AI Edge Credo Deepens AI Data Center Role With CoMira Deal And TensorWave Tie Up
• Neutral Sentiment: Aggregate analyst price targets imply a very large upside (~95%), but that metric is speculative and depends on multiple optimistic assumptions. Use with caution. Wall Street Analysts See a 95.05% Upside in Credo Technology Group (CRDO)
• Neutral Sentiment: Short-interest reporting in the feeds appears inconsistent/erroneous (figures of 0 shares); not a reliable signal in these reports.
• Negative Sentiment: Several brokerages (Rosenblatt, Susquehanna, Mizuho) have lowered expectations or cut targets, creating near-term selling pressure and increased volatility. Rosenblatt Lowers Expectations Susquehanna Lowers Expectations Mizuho Lowers Expectations
• Negative Sentiment: After an earlier analyst downgrade the stock gapped down and saw a sharp pullback; that shows the stock remains sensitive to changing sell‑side views. Shares Down After Analyst Downgrade
• Negative Sentiment: Investor concerns remain around a possible secular shift from copper AECs to optical interconnects — a structural risk highlighted in commentary that could pressure longer-term growth assumptions. Credo: Beat, Raise, Drop 10% – Welcome To The AI Trade Hangover

Analyst Ratings Changes

Several equities analysts recently weighed in on CRDO shares. KGI Securities upgraded Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price on the stock in a research report on Tuesday, December 2nd. The Goldman Sachs Group set a $165.00 price objective on shares of Credo Technology Group and gave the stock a “buy” rating in a report on Thursday, February 19th. New Street Research set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. Craig Hallum reaffirmed a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $220.00 price target on shares of Credo Technology Group in a research report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $206.33.

Credo Technology Group Price Performance

The business’s 50-day moving average price is $131.11 and its two-hundred day moving average price is $143.15. The firm has a market cap of $20.73 billion, a price-to-earnings ratio of 63.74 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 37.17%. The firm’s revenue was up 201.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts predict that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $7,658,000.00. Following the completion of the transaction, the chief executive officer owned 1,892,502 shares of the company’s stock, valued at $289,855,606.32. The trade was a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Yat Tung Lam sold 370,000 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total transaction of $56,680,300.00. Following the sale, the chief operating officer directly owned 400,000 shares in the company, valued at $61,276,000. This trade represents a 48.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 917,976 shares of company stock worth $136,567,647 over the last ninety days. 11.84% of the stock is owned by insiders.

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently added to or reduced their stakes in CRDO. NewEdge Advisors LLC boosted its holdings in shares of Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after acquiring an additional 3,972 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Credo Technology Group by 63.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Credo Technology Group by 2.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after purchasing an additional 7,107 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Credo Technology Group by 17.4% during the second quarter. Envestnet Asset Management Inc. now owns 75,869 shares of the company’s stock valued at $7,025,000 after purchasing an additional 11,233 shares in the last quarter. Finally, Keybank National Association OH acquired a new stake in Credo Technology Group in the second quarter worth about $324,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Credo Technology Group Company Profile

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.