Credo Technology Group (NASDAQ:CRDO) Shares Down 2.5% – Here’s Why

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares traded down 2.5% during trading on Friday . The stock traded as low as $185.87 and last traded at $202.68. Approximately 8,266,960 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 7,767,914 shares. The stock had previously closed at $207.97.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo’s free cash flow surged to $177.5 million, which strengthens its balance sheet and gives the company more flexibility to fund innovation, pursue acquisitions, and expand its AI-driven connectivity business. That kind of cash generation is typically viewed favorably by investors. Credo’s Free Cash Flow Soars: Can the Momentum Continue?
• Positive Sentiment: The company also drew a mention from an investment manager’s Q2 2026 letter, which can reinforce the view that institutional investors see Credo as a strong growth name in the small-cap tech space. Here’s Why Credo Technology Group Holding Ltd (CRDO) is on the Detector List of the Fund
• Neutral Sentiment: Several articles focused on insider selling, including a planned sale by a Credo executive and other executives, but the transactions were made under pre-arranged Rule 10b5-1 plans and do not necessarily signal a negative change in fundamentals. Still, investors may view the sales cautiously after the stock’s sharp move higher. A Credo Executive Sold Nearly $24 Million in Stock Across Two Sales in One Day
• Neutral Sentiment: Another note highlighted that the company remains a market favorite after a major rally, with the discussion centered more on valuation and recent price gains than on a new business catalyst. What This Billionaire Co-Founder’s Credo Sale Signals With Shares Up 139%
• Neutral Sentiment: A separate market commentary piece mentioned Credo among potential buy-the-dip opportunities in a volatile AI-capex environment, but it was broader market analysis rather than company-specific news. Steven Cress’ Top 2 Stocks H2 2026

Wall Street Analyst Weigh In

CRDO has been the topic of a number of research reports. Jefferies Financial Group boosted their price target on Credo Technology Group from $225.00 to $270.00 and gave the company a “buy” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price target on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 2nd. Susquehanna lifted their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a report on Tuesday, June 2nd. Needham & Company LLC increased their target price on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Evercore assumed coverage on shares of Credo Technology Group in a research report on Monday, June 22nd. They issued an “outperform” rating and a $325.00 target price for the company. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $263.11.

Credo Technology Group Stock Down 2.5%

The stock’s fifty day moving average is $232.10 and its two-hundred day moving average is $167.13. The firm has a market capitalization of $37.80 billion, a price-to-earnings ratio of 81.73, a P/E/G ratio of 0.93 and a beta of 3.20.

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

Insider Buying and Selling

In other Credo Technology Group news, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. The trade was a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 40,000 shares of the company’s stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the transaction, the chief financial officer owned 501,873 shares in the company, valued at approximately $125,207,276.04. This represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 329,662 shares of company stock valued at $76,068,196. 11.84% of the stock is owned by insiders.

Institutional Trading of Credo Technology Group

Several hedge funds and other institutional investors have recently modified their holdings of CRDO. Vanguard Group Inc. raised its holdings in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock valued at $2,386,449,000 after acquiring an additional 59,849 shares during the period. State Street Corp boosted its holdings in shares of Credo Technology Group by 23.4% during the fourth quarter. State Street Corp now owns 4,486,320 shares of the company’s stock worth $645,537,000 after acquiring an additional 849,654 shares during the period. Geode Capital Management LLC grew its position in shares of Credo Technology Group by 5.0% in the fourth 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 grew its position in shares of Credo Technology Group by 239,024.5% in the fourth 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. increased its stake in shares of Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares during the period. Institutional investors own 80.46% of the company’s stock.

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.