Credo Technology Group (NASDAQ:CRDO) Trading 4% Higher – What’s Next?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares shot up 4% during mid-day trading on Monday . The company traded as high as $173.25 and last traded at $170.16. 4,116,076 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 5,385,338 shares. The stock had previously closed at $163.61.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CRDO shares. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Roth Capital reissued 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 report on Tuesday, November 4th. Susquehanna increased their price target on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research report on Wednesday, October 22nd. Finally, Barclays reissued an “overweight” rating and set a $165.00 price objective on shares of Credo Technology Group in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Stock Up 4.0%

The business’s fifty day moving average price is $151.97 and its 200 day moving average price is $109.01. The firm has a market capitalization of $29.44 billion, a PE ratio of 253.97 and a beta of 2.62.

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 analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. During the same quarter last year, the business posted $0.04 EPS. The firm’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, Director Manpreet Khaira sold 5,000 shares of Credo Technology Group stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $149.67, for a total value of $748,350.00. Following the completion of the sale, the director owned 58,574 shares in the company, valued at $8,766,770.58. The trade was a 7.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $156.32, for a total transaction of $8,597,600.00. Following the transaction, the chief technology officer directly owned 6,668,961 shares of the company’s stock, valued at approximately $1,042,491,983.52. This represents a 0.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 973,161 shares of company stock worth $149,011,579 in the last quarter. 11.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds have recently made changes to their positions in the stock. Operose Advisors LLC increased its holdings 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 last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in Credo Technology Group during the first quarter valued at about $25,000. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group during the third quarter worth about $25,000. First Horizon Corp purchased a new position in shares of Credo Technology Group in the 3rd quarter worth about $26,000. Finally, Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Credo Technology Group in the 2nd quarter valued at about $27,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.