Credo Technology Group (NASDAQ:CRDO) Trading 2.7% Higher – Should You Buy?

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) were up 2.7% during mid-day trading on Thursday . The stock traded as high as $279.20 and last traded at $265.65. Approximately 6,865,187 shares changed hands during trading, a decline of 12% from the average session volume of 7,832,840 shares. The stock had previously closed at $258.69.

More Credo Technology Group News

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

• Positive Sentiment: Credo continues to benefit from strong AI infrastructure spending, with its connectivity products gaining traction inside training clusters at five of the six major hyperscalers. Price Prediction: Will Credo Hit $500 by 2030?
• Positive Sentiment: Fiscal 2026 revenue more than tripled to $1.335 billion, reinforcing the view that Credo is executing well in a fast-growing market. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Analyst and investor interest remains upbeat, with articles debating whether CRDO can keep climbing as AI spending expands. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Neutral Sentiment: One recent item highlighted broader semiconductor volatility, including mixed moves in chip stocks amid market-wide risk-off trading. Chip Stocks Join in Broad Selloff
• Negative Sentiment: Some coverage points to key customer risk and a stretched valuation after the stock’s large move higher, which could limit upside if growth slows. Credo Technology: A Great Business With Some Hidden Risks

Analysts Set New Price Targets

CRDO has been the topic of several recent analyst reports. Stifel Nicolaus upped their price target on Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research note on Monday, June 22nd. Susquehanna raised their price objective on Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday, June 2nd. Rosenblatt Securities boosted their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Bank of America upped their target price on shares of Credo Technology Group from $252.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Mizuho increased their target price on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, Credo Technology Group has a consensus rating of “Buy” and an average target price of $263.11.

Credo Technology Group Stock Performance

The firm’s 50 day moving average is $225.11 and its two-hundred day moving average is $163.09. The stock has a market capitalization of $49.54 billion, a PE ratio of 107.12, a P/E/G ratio of 1.13 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The business had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The company’s quarterly revenue was up 157.0% compared to the same quarter last year. On average, 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 the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the sale, the chief executive officer owned 367,327 shares in the company, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel W. Fleming sold 40,000 shares of the stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares in the company, valued at $125,207,276.04. This represents a 7.38% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders sold 394,662 shares of company stock valued at $84,590,786 in the last three months. 11.84% of the stock is owned by corporate insiders.

Institutional Trading of Credo Technology Group

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Credo Technology Group by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after acquiring an additional 59,849 shares during the last quarter. State Street Corp grew its holdings in Credo Technology Group by 23.4% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Credo Technology Group by 5.0% in the 4th 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 increased its position in shares of Credo Technology Group by 239,024.5% in the 4th 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. raised its holdings in shares of Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares in the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.