Credo Technology Group (NASDAQ:CRDO) Stock Price Up 1.4% – Here’s What Happened

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded up 1.4% during trading on Wednesday . The stock traded as high as $261.38 and last traded at $237.68. 13,836,378 shares were traded during trading, an increase of 85% from the average session volume of 7,462,711 shares. The stock had previously closed at $234.32.

More Credo Technology Group News

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

• Positive Sentiment: Multiple recent articles highlighted Credo’s rapid growth, saying revenue has tripled in a year and that its AI connectivity products are benefiting from strong demand in data-center infrastructure. Credo Price Prediction and Forecast: This Is Where The Stock Goes From Here
• Positive Sentiment: Analysts and market commentary pointed to rising earnings estimates and upbeat guidance around fiscal 2027 optical product growth, reinforcing the view that Credo can keep expanding as the AI boom continues. Can Credo Technology Maintain Revenue Growth Amid the AI Boom?
• Positive Sentiment: Zacks and Yahoo-linked coverage said CRDO could keep moving higher because earnings estimate revisions remain favorable, which often supports near-term stock momentum. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Positive Sentiment: A Seeking Alpha note upgraded Credo to a strong buy, adding to the bullish sentiment around the stock’s AI-related growth prospects.
• Neutral Sentiment: Unusual options activity showed traders bought more call options than normal, suggesting bullish expectations, but this is sentiment-driven rather than a direct fundamental catalyst.
• Neutral Sentiment: Recent insider sales by the CEO and a director may slightly temper enthusiasm, but the transactions appear routine and do not necessarily change the long-term story.

Analysts Set New Price Targets

CRDO has been the subject of a number of research analyst reports. Roth Mkm boosted their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Rothschild & Co Redburn began coverage on Credo Technology Group in a research report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Stifel Nicolaus set a $250.00 target price on Credo Technology Group in a report on Wednesday, May 27th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $248.41.

Credo Technology Group Stock Up 1.4%

The stock’s 50-day moving average price is $174.95 and its 200 day moving average price is $148.44. The firm has a market cap of $43.83 billion, a price-to-earnings ratio of 95.81, a price-to-earnings-growth ratio of 1.44 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.Credo Technology Group’s quarterly revenue was up 157.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.20 earnings per share. On average, research analysts predict that Credo Technology Group Holding Ltd. will post 3.93 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 54,984 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00. Following the sale, the chief technology officer owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. The trade was a 0.44% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 348,284 shares of company stock valued at $51,616,969. Corporate insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC grew its stake in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the period. Reflection Asset Management acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Credo Technology Group in the fourth quarter valued at about $36,000. 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.