Credo Technology Group Sees Unusually High Options Volume (NASDAQ:CRDO)

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was the recipient of some unusual options trading on Tuesday. Investors purchased 30,831 call options on the company. This is an increase of 15% compared to the average volume of 26,836 call options.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus set a $250.00 target price on Credo Technology Group in a research note on Wednesday, May 27th. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. Roth Mkm raised their target price on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $250.00 target price on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Finally, Bank of America raised their target price on Credo Technology Group from $210.00 to $252.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average target price of $248.41.

Credo Technology Group News Summary

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

• Positive Sentiment: Traders bought more call options than usual, signaling bullish expectations for further upside in Credo Technology Group.
• Positive Sentiment: Recent commentary noted that CRDO has surged about 78% in three months, reflecting strong AI-driven demand and continued investor enthusiasm for the stock. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Positive Sentiment: Another analysis said Credo remains one of the standout semiconductor names, outperforming the broader industry, sector, and the S&P 500 over the last quarter. Credo Stock Surges 78% in 3 Months: Is It Still a Buying Opportunity?
• Neutral Sentiment: A market wrap-up article mentioned Credo as one of the stocks advancing during Tuesday’s session, but the main driver was broader market volatility rather than company-specific news. Stock Market Today: Nasdaq Ends Off Steeper Loss, Dow Rises After Downturn; Credo Technology Advances
• Neutral Sentiment: Insider selling by the CEO and a director may be weighing on sentiment somewhat, but these sales were relatively routine and do not necessarily signal a change in fundamentals.

Credo Technology Group Stock Performance

CRDO stock opened at $234.32 on Wednesday. The firm has a 50 day moving average price of $174.95 and a 200-day moving average price of $148.44. Credo Technology Group has a 52-week low of $66.75 and a 52-week high of $252.70. The firm has a market capitalization of $43.22 billion, a price-to-earnings ratio of 94.48, a PEG ratio of 1.44 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The firm had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same period last year, the business earned $0.20 earnings per share. The business’s revenue was up 157.0% on a year-over-year basis. As a group, sell-side analysts forecast that Credo Technology Group will post 3.93 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $103.19, for a total transaction of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at $80,286,662.39. This trade represents a 13.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 348,284 shares of company stock worth $51,616,969 over the last ninety days. Insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

A number of large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Credo Technology Group by 9.4% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after acquiring an additional 23,332 shares during the period. M&T Bank Corp grew its position in shares of Credo Technology Group by 428.8% during the 4th quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock valued at $1,932,000 after acquiring an additional 10,888 shares during the period. FengHe Fund Management Pte. Ltd. grew its position in shares of Credo Technology Group by 5.7% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock valued at $23,349,000 after acquiring an additional 8,769 shares during the period. TD Asset Management Inc bought a new stake in shares of Credo Technology Group during the 3rd quarter valued at $17,454,000. Finally, Second Line Capital LLC bought a new stake in shares of Credo Technology Group during the 3rd quarter valued at $4,283,000. Institutional investors own 80.46% of the company’s stock.

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.