Credo Technology Group (NASDAQ:CRDO) Stock Price Up 6.5% – Time to Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shot up 6.5% during mid-day trading on Monday . The company traded as high as $188.76 and last traded at $187.27. Approximately 11,067,481 shares were traded during trading, an increase of 48% from the average session volume of 7,479,432 shares. The stock had previously closed at $175.89.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo introduced its 1.6T ZeroFlap optics, expanding its high-speed connectivity portfolio as management targets more than $600 million in optical revenue during fiscal 2027. The product launch supports the company’s strategy of benefiting from rising data-center bandwidth requirements. Why Credo’s New 1.6T Optics Matter to Its $600 Million Optical Push
• Positive Sentiment: Analysts and fund commentary continue to highlight Credo’s AI-driven growth. The company has reported triple-digit year-over-year revenue growth, while fiscal 2027 revenue is expected to increase by more than 85% as optical products expand. AI build-out Strengthens Credo Technology Group Holding Ltd
• Positive Sentiment: Mizuho lowered its price target to $245 from $290 but retained an “outperform” rating, indicating that the brokerage still sees meaningful upside after the recent decline. Mizuho Cuts Credo Technology Group Price Target
• Neutral Sentiment: Recent coverage notes that Credo’s strong earnings performance—including revenue growth of roughly 115%—has not prevented the shares from falling substantially from their highs. Some investors view that weakness as an opportunity, but the debate remains dependent on continued execution. Credo Technology Crashed for 3 Months
• Negative Sentiment: Despite its growth outlook, Credo trades at a premium valuation. Analysts flag customer concentration and the risk that delays or weaker-than-expected adoption of optical products could make the aggressive growth targets difficult to achieve. CRDO Down 20.3% in a Month

Analyst Upgrades and Downgrades

CRDO has been the subject of a number of recent analyst reports. Evercore set a $292.00 target price on shares of Credo Technology Group in a research report on Wednesday, September 2nd. Needham & Company LLC raised their price objective 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. Rosenblatt Securities lifted their target price on shares of Credo Technology Group from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Wall Street Zen downgraded Credo Technology Group from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, The Goldman Sachs Group restated a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $264.89.

Credo Technology Group Trading Up 6.5%

The stock has a market capitalization of $35.20 billion, a P/E ratio of 66.64, a PEG ratio of 0.70 and a beta of 3.22. The company has a fifty day simple moving average of $211.91 and a two-hundred day simple moving average of $192.43.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Tuesday, September 1st. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The company had revenue of $479.00 million for the quarter, compared to analyst estimates of $473.30 million. Credo Technology Group had a net margin of 33.83% and a return on equity of 28.77%. The company’s revenue for the quarter was up 114.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 EPS. As a group, analysts forecast that Credo Technology Group Holding Ltd. will post 5.02 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Cheng sold 27,500 shares of the stock in a transaction on Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the transaction, the chief technology officer owned 5,799,870 shares of the company’s stock, valued at $1,192,105,279.80. This represents a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Yat Lam sold 55,441 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was sold at an average price of $213.02, for a total value of $11,810,041.82. Following the completion of the transaction, the chief operating officer owned 2,529,169 shares in the company, valued at $538,763,580.38. This represents a 2.15% 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. Over the last ninety days, insiders have sold 329,746 shares of company stock valued at $72,151,434. 9.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CRDO. Corient Private Wealth LLC boosted its stake in 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 acquiring an additional 3,597,318 shares during the last quarter. Atreides Management LP bought a new stake in Credo Technology Group in the first quarter valued at approximately $102,434,000. The Manufacturers Life Insurance Company raised its holdings in Credo Technology Group by 192.1% in the first quarter. The Manufacturers Life Insurance Company now owns 1,047,084 shares of the company’s stock worth $98,290,000 after purchasing an additional 688,596 shares during the period. H&H International Investment LLC boosted its position in shares of Credo Technology Group by 431.6% during the first quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock worth $70,515,000 after purchasing an additional 609,900 shares in the last quarter. Finally, Scge Management L.P. acquired a new position in shares of Credo Technology Group in the 4th quarter valued at $82,017,000. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd. develops high-speed connectivity solutions for the data infrastructure market. Its products are designed to help move data efficiently within and between networking, storage and computing systems, with applications in artificial intelligence, cloud computing, telecommunications and enterprise data centers.

The company’s portfolio includes serializer/deserializer (SerDes) integrated circuits, retimers, optical digital signal processors and active electrical cables.