Credo Technology Group (NASDAQ:CRDO) Shares Up 5.4% – Here’s Why

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded up 5.4% during mid-day trading on Wednesday . The stock traded as high as $107.43 and last traded at $102.54. 8,802,913 shares changed hands during trading, an increase of 22% from the average session volume of 7,187,739 shares. The stock had previously closed at $97.30.

More Credo Technology Group News

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

• Positive Sentiment: Credo beat estimates and raised near‑term guidance: Q3 revenue $407.0M (up 201.5% YoY) and EPS $1.07, topping Street expectations; company guided Q4 revenue above consensus, supporting the growth story. Credo Q3 2026 Financial Results (BusinessWire)
• Positive Sentiment: Wall Street still has bulls: several firms (William Blair, Bank of America, Needham) reiterated Buy ratings or reaffirmed convictions after the print, which helped stabilize buying interest today. Wall Street Bullish on Credo (Yahoo)
• Positive Sentiment: Strategic product & partner momentum: management highlighted an accelerating ZeroFlap optics ramp, the TensorWave collaboration for AI clusters, and the CoMira IP deal — moves that expand addressable market in AI/data‑center interconnects. Credo & TensorWave Team Up (Zacks)
• Neutral Sentiment: Management reiterated a multi‑quarter growth target (CEO projecting ~50% pace for the full year) and provided an earnings‑call transcript for investors to parse execution details. Credo CEO Projects 50% Growth (247WallSt)
• Neutral Sentiment: Several market writeups argue the post‑earnings pullback creates a buying opportunity for long‑term investors who believe in the AI connectivity thesis. Credo Pullback May Be The Opportunity (Seeking Alpha)
• Negative Sentiment: Stock sold off sharply after the print as some investors focused on deceleration risks and conservatively lower gross‑margin guidance for Q4, triggering a short‑term “AI trade hangover.” That volatility contributed to heavy intraday swings. Beat, Raise, Drop 10% (Seeking Alpha)
• Negative Sentiment: Analysts trimmed price targets and forecasts after the quarter (multiple firms cut targets or adjusted estimates), which likely pressured sentiment despite the beat. Analysts Slash Forecasts (Benzinga)
• Negative Sentiment: Key risks remain: concentrated customer exposure (high percentage of revenue from a few hyperscalers) and margin sensitivity to product mix—factors driving investor caution and amplifying moves on macro/sector risk events. Credo Earnings: Is AI Broken? (Seeking Alpha)

Analyst Ratings Changes

CRDO has been the subject of several recent research reports. Roth Mkm decreased their target price on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $220.00 price target on shares of Credo Technology Group in a research note on Tuesday. New Street Research set a $240.00 target price on shares of Credo Technology Group in a research note on Tuesday, December 2nd. TD Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Finally, KGI Securities upgraded Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price for the company in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $206.33.

Credo Technology Group Stock Performance

The firm has a market cap of $18.52 billion, a P/E ratio of 56.97 and a beta of 2.67. The business has a 50-day simple moving average of $132.06 and a 200 day simple moving average of $143.44.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 37.17% and a net margin of 31.81%.Credo Technology Group’s revenue was up 201.5% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, Director Pantas Sutardja sold 1,875 shares of the stock in a transaction dated Friday, January 30th. The shares were sold at an average price of $128.67, for a total transaction of $241,256.25. Following the sale, the director directly owned 5,892,034 shares of the company’s stock, valued at $758,128,014.78. This represents a 0.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Sylvia Acevedo sold 2,200 shares of the company’s stock in a transaction dated Tuesday, January 13th. The shares were sold at an average price of $159.18, for a total transaction of $350,196.00. Following the sale, the director directly owned 18,545 shares of the company’s stock, valued at approximately $2,951,993.10. This represents a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 917,976 shares of company stock worth $136,567,647. 11.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new position in Credo Technology Group during the third quarter worth about $25,000. Crewe Advisors LLC increased its stake in shares of Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after acquiring an additional 106 shares during the last quarter. Reflection Asset Management purchased a new position in shares of Credo Technology Group in the 4th quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new stake in Credo Technology Group during the 4th quarter worth approximately $25,000. Finally, First Horizon Corp purchased a new position in shares of Credo Technology Group in the 3rd quarter valued at $26,000. Hedge funds and other 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.