Credo Technology Group (NASDAQ:CRDO) Trading Up 6.2% – Here’s Why

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares were up 6.2% during mid-day trading on Friday . The stock traded as high as $240.81 and last traded at $236.03. Approximately 7,517,256 shares were traded during trading, an increase of 6% from the average daily volume of 7,058,511 shares. The stock had previously closed at $222.35.

More Credo Technology Group News

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

• Positive Sentiment: Credo completed its acquisition of DustPhotonics, a deal that should broaden its optical and active electrical cable offerings and increase its exposure to hyperscaler and AI data-center spending. Credo Completes Acquisition of DustPhotonics
• Positive Sentiment: Analysts remain generally bullish, with brokerage consensus still rating CRDO as a “Buy,” reflecting confidence in its growth outlook. Credo Technology Group Holding Ltd. (NASDAQ:CRDO) Receives Consensus Recommendation of “Buy” from Brokerages
• Positive Sentiment: Market commentary continues to frame Credo as an AI infrastructure winner, with its high-speed connectivity products benefiting from rising demand for enterprise AI factories and hyperscale data-center buildouts. Credo Technology (CRDO) Enters a Partnership to Build Enterprise AI Factories
• Neutral Sentiment: Several previews ahead of fiscal Q4 earnings note strong expectations, including consensus for about $1.03 in EPS on roughly $430 million in revenue, which suggests investors are watching closely for another upside surprise. Credo Technology Before Q4 Earnings: Should Investors Buy the Stock?
• Neutral Sentiment: Some recent articles suggest the stock is already stretched after a strong run and is trading near its 52-week high, which could limit upside if earnings or guidance disappoint. Credo Technology Nearing 52-Week High: Buy, Sell or Hold?

Analysts Set New Price Targets

Several equities analysts recently issued reports on CRDO shares. The Goldman Sachs Group raised their price objective on Credo Technology Group from $150.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, April 16th. Roth Mkm cut their target price on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Mizuho cut their target price on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Weiss Ratings upgraded Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday. Finally, Susquehanna cut their target price on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. Two 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. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $210.65.

Credo Technology Group Stock Up 6.2%

The business has a 50 day simple moving average of $158.17 and a 200-day simple moving average of $144.98. The company has a market capitalization of $43.54 billion, a P/E ratio of 131.13 and a beta of 3.17.

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

Insider Activity at Credo Technology Group

In related news, CFO Daniel W. Fleming sold 7,580 shares of Credo Technology Group stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total transaction of $1,156,935.40. Following the sale, the chief financial officer directly owned 433,678 shares in the company, valued at $66,192,273.14. The trade was a 1.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $178.99, for a total transaction of $4,922,225.00. Following the sale, the chief technology officer owned 6,024,870 shares in the company, valued at approximately $1,078,391,481.30. This represents a 0.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 386,608 shares of company stock valued at $50,371,351 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp bought a new stake in shares of Credo Technology Group during the third quarter valued at about $25,000. Crewe Advisors LLC raised 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 valued at $25,000 after purchasing an additional 106 shares in the last quarter. Reflection Asset Management bought a new stake in shares of Credo Technology Group during the fourth quarter valued at about $25,000. Acumen Wealth Advisors LLC bought a new stake in shares of Credo Technology Group during the fourth quarter valued at about $25,000. Finally, Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group during the fourth quarter valued at about $32,000. 80.46% of the stock is currently owned by institutional investors.

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.