Credo Technology Group (NASDAQ:CRDO) Trading 11.3% Higher on Analyst Upgrade

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price was up 11.3% during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $250.00 to $350.00. Stifel Nicolaus currently has a buy rating on the stock. Credo Technology Group traded as high as $308.67 and last traded at $302.52. Approximately 9,494,330 shares were traded during trading, an increase of 26% from the average session volume of 7,562,821 shares. The stock had previously closed at $271.83.

Several other equities analysts also recently commented on the stock. Rosenblatt Securities upped their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Jefferies Financial Group raised their target price on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. Mizuho upped their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. increased their price target on shares of Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and an average target price of $258.22.

Insider Activity at Credo Technology Group

In other news, Director Sylvia Acevedo sold 2,208 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $211.00, for a total value of $465,888.00. Following the completion of the sale, the director owned 16,337 shares of the company’s stock, valued at approximately $3,447,107. The trade was a 11.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the company’s stock in a transaction dated Tuesday, June 16th. The shares were sold at an average price of $246.69, for a total transaction of $6,783,975.00. Following the completion of the transaction, the chief technology officer owned 5,964,870 shares in the company, valued at $1,471,473,780.30. This trade represents a 0.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 416,884 shares of company stock valued at $72,809,943. 11.84% of the stock is currently owned by insiders.

Credo Technology Group News Summary

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, saying the market is undervaluing Credo’s long-term opportunity in AI networking infrastructure and its move beyond copper-based connections. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO from $250 to $350 and kept a Buy rating, adding to the bullish analyst momentum around the stock. Benzinga / The Fly report
• Positive Sentiment: Investors are continuing to focus on Credo’s role in AI data-center interconnects, including active electrical cables and growing optical opportunities, which multiple reports say could support sizable upside if demand remains strong. Credo Wires Agentic AI With $10 Billion-Plus Market In Sight
• Neutral Sentiment: Recent articles also pointed to strong post-earnings fundamentals, including revenue growth, profitability, and management’s upbeat guidance, which help support the bullish narrative already driving the shares. Credo Technology rises as investors lean into AI interconnect growth story

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after purchasing an additional 59,849 shares in the last quarter. State Street Corp boosted its holdings in shares of Credo Technology Group by 23.4% in the 4th quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after purchasing an additional 849,654 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Credo Technology Group by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after purchasing an additional 184,676 shares during the last quarter. Corient Private Wealth LLC increased its stake in shares of Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after purchasing an additional 3,597,318 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Credo Technology Group by 66.0% during the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after buying an additional 1,218,504 shares in the last quarter. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Stock Performance

The company has a market cap of $56.41 billion, a price-to-earnings ratio of 121.98, a PEG ratio of 1.43 and a beta of 3.22. The business has a fifty day moving average price of $199.85 and a 200 day moving average price of $154.04.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. During the same period last year, the firm posted $0.20 earnings per share. Credo Technology Group’s revenue was up 157.0% compared to the same quarter last year. As a group, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.

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.