Credo Technology Group (NASDAQ:CRDO) Stock Price Up 6.4% – Still a Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price shot up 6.4% during mid-day trading on Wednesday . The company traded as high as $166.98 and last traded at $164.01. 5,179,042 shares were traded during trading, a decline of 5% from the average session volume of 5,448,879 shares. The stock had previously closed at $154.18.

Analyst Ratings Changes

Several brokerages have recently weighed in on CRDO. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Credo Technology Group in a research note on Wednesday, October 8th. Roth Capital restated a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a research note on Tuesday, September 30th. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Mizuho boosted their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Finally, William Blair began coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Price Performance

The stock has a market capitalization of $28.37 billion, a P/E ratio of 244.79 and a beta of 2.62. The firm has a 50-day simple moving average of $152.38 and a 200 day simple moving average of $117.61.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm’s revenue for the quarter was up 273.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total value of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly owned 920,000 shares of the company’s stock, valued at approximately $132,047,600. This trade represents a 8.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $163.98, for a total value of $9,018,900.00. Following the sale, the chief technology officer owned 6,998,961 shares in the company, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 973,161 shares of company stock valued at $149,011,579 over the last ninety days. 11.84% of the stock is owned by company insiders.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the business. Operose Advisors LLC grew its position in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Credo Technology Group during the first quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group in the third quarter worth $25,000. First Horizon Corp bought a new stake in Credo Technology Group in the third quarter valued at $26,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Credo Technology Group during the second quarter valued at about $27,000. 80.46% of the stock is owned by institutional investors and hedge funds.

Credo Technology Group Company Profile

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.