Credo Technology Group (NASDAQ:CRDO) Trading Up 5.4% on Analyst Upgrade

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price shot up 5.4% during mid-day trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $107.43 and last traded at $102.54. 8,802,913 shares were traded during trading, an increase of 22% from the average session volume of 7,187,739 shares. The stock had previously closed at $97.30.

Other equities analysts have also recently issued research reports about the stock. Mizuho decreased their price target on shares of Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus set a $200.00 price target on shares of Credo Technology Group in a research note on Tuesday. Susquehanna decreased their price objective on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating for the company in a research note on Tuesday. Rosenblatt Securities cut their target price on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday. Finally, Craig Hallum reissued a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $206.33.

Insider Buying and Selling at Credo Technology Group

In other news, COO Yat Tung Lam sold 370,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $153.19, for a total value of $56,680,300.00. Following the completion of the sale, the chief operating officer owned 400,000 shares in the company, valued at approximately $61,276,000. This trade represents a 48.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $153.16, for a total transaction of $7,658,000.00. Following the transaction, the chief executive officer owned 1,892,502 shares in the company, valued at approximately $289,855,606.32. This trade represents a 2.57% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 916,101 shares of company stock worth $136,220,453. 11.84% of the stock is currently owned by insiders.

Credo Technology Group News Roundup

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

• Positive Sentiment: Big Q3 beat — Credo reported a blowout quarter with revenue up ~201% year-over-year, a solid EPS beat and strong margins, giving a fundamental growth story that supports higher valuations. Earnings/Reaction
• Positive Sentiment: M&A and partnerships broaden AI/data-center exposure — the CoMira acquisition and a TensorWave tie-up expand Credo’s connectivity IP and go-to-market for advanced AI racks, strengthening the company’s growth runway. CoMira Deal
• Positive Sentiment: Industry tailwinds and vendor positioning — Broadcom’s public tilt toward copper-based connectivity helped lift Credo, since its products align with that trend. Broadcom Signal
• Positive Sentiment: Analyst support and rising estimates — JPMorgan maintained an Overweight view and several outlets note upward revisions to earnings estimates and sizable average price-target upside, which can underpin medium-term upside. JPMorgan Note
• Neutral Sentiment: Short-interest reporting looks unreliable — recent short-interest posts show zero shares/NaN changes and a 0.0 days-to-cover metric, which likely reflects a data/reporting issue rather than meaningful short activity. (Internal short-interest entries)
• Negative Sentiment: Analyst downgrades and lowered expectations — multiple firms (including Rosenblatt, Susquehanna, Mizuho and others) have trimmed forecasts or expressed caution; those moves triggered a sharp gap down and a prior one-day ~15% sell-off. Downgrade/Share Drop
• Negative Sentiment: Post-earnings volatility and risk callouts — several pieces highlight that while results were strong, valuation sensitivity and execution risks could keep the stock choppy in the near term. Volatility Discussion

Hedge Funds Weigh In On Credo Technology Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDO. Vanguard Group Inc. boosted its stake in shares of Credo Technology Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after buying an additional 59,849 shares in the last quarter. JPMorgan Chase & Co. raised its position in Credo Technology Group by 18.3% in the third quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after acquiring an additional 1,190,522 shares in the last quarter. State Street Corp lifted its holdings in Credo Technology Group by 23.4% in the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after acquiring an additional 849,654 shares during the period. Geode Capital Management LLC boosted its position in shares of Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after purchasing an additional 184,676 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Credo Technology Group by 239,024.5% during the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares in the last quarter. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Trading Down 4.3%

The stock’s 50 day moving average price is $130.40 and its two-hundred day moving average price is $142.96. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 61.02 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The firm’s quarterly revenue was up 201.5% compared to the same quarter last year. During the same period last year, the company posted $0.25 earnings per share. On average, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

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.