Credo Technology Group Target of Unusually Large Options Trading (NASDAQ:CRDO)

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was the recipient of unusually large options trading activity on Monday. Traders acquired 29,633 call options on the company. This is an increase of approximately 27% compared to the typical volume of 23,300 call options.

Credo Technology Group Stock Up 12.4%

Shares of CRDO stock traded up $14.77 during mid-day trading on Monday, hitting $134.36. 10,069,584 shares of the company’s stock were exchanged, compared to its average volume of 7,049,825. Credo Technology Group has a fifty-two week low of $33.04 and a fifty-two week high of $213.80. The stock has a 50-day simple moving average of $111.31 and a two-hundred day simple moving average of $136.78. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of 74.64 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. During the same quarter last year, the firm earned $0.25 earnings per share. The business’s revenue was up 201.5% on a year-over-year basis. As a group, analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Daniel W. Fleming sold 2,460 shares of Credo Technology Group stock in a transaction on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total transaction of $249,567.00. Following the completion of the sale, the chief financial officer directly owned 441,258 shares of the company’s stock, valued at approximately $44,765,624.10. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $103.19, for a total value of $2,837,725.00. Following the completion of the transaction, the chief technology officer owned 6,162,370 shares in the company, valued at approximately $635,894,960.30. The trade was a 0.44% decrease in their position. 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. Insiders sold a total of 391,119 shares of company stock valued at $46,493,731 in the last 90 days. Company insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of CRDO. Optimize Financial Inc purchased a new position in Credo Technology Group during the third quarter worth approximately $1,431,000. Estate Counselors LLC purchased a new position in Credo Technology Group during the third quarter worth approximately $2,548,000. Global Trust Asset Management LLC purchased a new position in Credo Technology Group during the third quarter worth approximately $2,167,000. New York State Common Retirement Fund raised its stake in Credo Technology Group by 106.5% during the third quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock worth $21,279,000 after purchasing an additional 75,369 shares during the period. Finally, EFG Asset Management North America Corp. raised its stake in Credo Technology Group by 76.5% during the third quarter. EFG Asset Management North America Corp. now owns 21,976 shares of the company’s stock worth $3,200,000 after purchasing an additional 9,527 shares during the period. Institutional investors and hedge funds own 80.46% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CRDO. Susquehanna dropped their target price on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research report on Tuesday, March 3rd. Roth Mkm decreased their price objective on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Craig Hallum reiterated a “buy” rating and set a $200.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the company a “buy” rating in a report on Thursday, February 19th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $220.00 target price on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $204.38.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Jefferies initiated coverage with a Buy and $175 price target, arguing Credo is underappreciated as an AI-infrastructure play and signaling material upside from current levels. Read More.
• Positive Sentiment: Credo agreed to acquire DustPhotonics to accelerate its move into silicon photonics and next?generation optical connectivity — a strategic step that expands its product mix and addressable market for AI/data?center interconnects. Read More.
• Positive Sentiment: High-volume call buying: unusually large options activity was reported (?29,633 calls), a near?term bullish indicator that likely amplified today’s move.
• Positive Sentiment: Multiple analyst/commentary pieces are framing Credo as an underappreciated AI exposure with strong growth; coverage notes point to >50% revenue growth potential and attractive forward multiples if AI demand persists. Read More.
• Neutral Sentiment: Market writeups (Seeking Alpha, AmericanBankingNews) are highlighting both the buy thesis and the valuation questions — useful for background but reiterate mixed investor views on optics vs. copper risk and valuation multiples. Read More.
• Neutral Sentiment: Coverage comparing peers and broader metrics was published (AmericanBankingNews), offering context but not new catalysts. Read More.
• Negative Sentiment: Ongoing industry debate — whether copper-based solutions will be supplanted by optics in AI data centers — remains an execution/market?share risk for Credo despite near-term tailwinds; long-term adoption of silicon photonics is not guaranteed. Read More.

About Credo Technology Group

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.