Credo Technology Group (NASDAQ:CRDO) Trading Up 12.9% – Time to Buy?

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shot up 12.9% during trading on Friday . The company traded as high as $218.95 and last traded at $218.41. 8,467,649 shares were traded during trading, an increase of 20% from the average session volume of 7,078,404 shares. The stock had previously closed at $193.39.

Credo Technology Group News Summary

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

• Positive Sentiment: Credo announced an AI Factory partnership with Rebellions to integrate its ZeroFlap cables into RebelPOD, which investors viewed as a meaningful validation of Credo’s AI networking products and a catalyst for future adoption. Article title: AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
• Positive Sentiment: Zacks Research upgraded Credo from hold to strong-buy, adding to bullish sentiment around the stock. Article title: Credo Technology Group was upgraded by Zacks Research from “hold” to “strong-buy”
• Positive Sentiment: Several recent articles highlighted Credo as one of the alternative AI stocks with more upside than Nvidia, reinforcing the market’s view that CRDO could benefit from the AI boom and edge-computing demand. Article title: Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Neutral Sentiment: Commentary comparing CRDO with Coherent and other AI-connectivity names focused on Credo’s AEC adoption plans, new product families, and the DustPhotonics deal, but did not introduce a new hard catalyst. Article title: CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Neutral Sentiment: Broader market coverage noted that Nvidia weakened even after strong earnings, but AI-related names like Credo were among the companies still attracting interest. Article title: Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Analyst Ratings Changes

A number of brokerages recently commented on CRDO. Rosenblatt Securities boosted their target price on shares of Credo Technology Group from $125.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 15th. Stifel Nicolaus set a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Craig Hallum reissued a “buy” rating and issued a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. The Goldman Sachs Group boosted their price target on shares of Credo Technology Group from $150.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of Credo Technology Group in a research report on Monday, April 13th. They issued a “buy” rating and a $175.00 price target for the company. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $207.71.

Credo Technology Group Stock Up 12.9%

The stock has a market capitalization of $40.29 billion, a PE ratio of 121.34 and a beta of 3.17. The business’s 50-day moving average is $144.76 and its two-hundred day moving average is $142.53.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. During the same period in the previous year, the company earned $0.25 earnings per share. Credo Technology Group’s quarterly revenue was up 201.5% compared to the same quarter last year. As a group, analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CFO Daniel W. Fleming sold 7,580 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total value of $1,156,935.40. Following the completion of the sale, the chief financial officer directly owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. This represents a 1.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 6,149 shares of the company’s stock in a transaction dated Sunday, April 5th. The shares were sold at an average price of $101.45, for a total transaction of $623,816.05. Following the completion of the sale, the chief executive officer directly owned 222,311 shares of the company’s stock, valued at $22,553,450.95. The trade was a 2.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 386,608 shares of company stock valued at $50,371,351 over the last ninety days. 11.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the business. Atlantic Union Bankshares Corp purchased a new stake in shares of Credo Technology Group in the third quarter valued at about $25,000. Crewe Advisors LLC raised its holdings in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after buying an additional 106 shares during the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at about $25,000. Acumen Wealth Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at about $25,000. Finally, Flagship Harbor Advisors LLC purchased a new stake in shares of Credo Technology Group in the fourth quarter valued at about $32,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

About Credo Technology Group

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.