Credo Technology Group (NASDAQ:CRDO) Trading Up 8.4% – Should You Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares traded up 8.4% during mid-day trading on Friday . The company traded as high as $177.98 and last traded at $177.75. 5,664,043 shares traded hands during mid-day trading, an increase of 4% from the average session volume of 5,450,733 shares. The stock had previously closed at $164.01.

Analyst Ratings Changes

A number of analysts recently commented on CRDO shares. William Blair initiated coverage on shares of Credo Technology Group in a report on Thursday, September 18th. They set an “outperform” rating on the stock. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Credo Technology Group in a research report on Wednesday, October 8th. Finally, Barclays restated an “overweight” rating and issued a $165.00 price target on shares of Credo Technology Group in a research report on Tuesday, October 7th. One equities research 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Price Performance

The firm has a market capitalization of $30.75 billion, a PE ratio of 265.30 and a beta of 2.62. The company has a 50-day moving average price of $152.37 and a 200-day moving average price of $119.53.

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

Insider Activity

In other news, Director Manpreet Khaira sold 5,000 shares of the firm’s stock in a transaction on Monday, October 13th. The stock was sold at an average price of $149.67, for a total transaction of $748,350.00. Following the sale, the director owned 58,574 shares in the company, valued at $8,766,770.58. This trade represents a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $189.35, for a total value of $355,031.25. Following the completion of the sale, the director directly owned 5,893,909 shares of the company’s stock, valued at approximately $1,116,011,669.15. This represents a 0.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 973,161 shares of company stock valued at $149,011,579 in the last 90 days. Insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Credo Technology Group by 0.9% during the third quarter. Vanguard Group Inc. now owns 16,525,380 shares of the company’s stock worth $2,406,261,000 after purchasing an additional 150,012 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Credo Technology Group by 18.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 7,699,456 shares of the company’s stock worth $1,121,118,000 after buying an additional 1,190,522 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Credo Technology Group by 4.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after buying an additional 163,305 shares during the period. Swedbank AB raised its position in shares of Credo Technology Group by 29.5% in the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock worth $129,280,000 after buying an additional 733,811 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after acquiring an additional 1,218,504 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

About Credo Technology Group

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.