Credo Technology Group (NASDAQ:CRDO) Shares Up 2.2% – Here’s What Happened

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price traded up 2.2% during mid-day trading on Tuesday . The company traded as high as $154.30 and last traded at $154.18. 5,178,882 shares changed hands during trading, a decline of 5% from the average session volume of 5,449,973 shares. The stock had previously closed at $150.85.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CRDO shares. Roth Capital reiterated a “buy” rating and issued a $170.00 price objective on shares of Credo Technology Group in a report on Tuesday, September 30th. Zacks Research lowered Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Barclays reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Credo Technology Group in a research note on Tuesday, October 7th. Cowen restated a “buy” rating on shares of Credo Technology Group in a report on Thursday, September 4th. Finally, Susquehanna lifted their target price on shares of Credo Technology Group from $165.00 to $175.00 and gave the stock a “positive” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $140.36.

Credo Technology Group Stock Performance

The stock has a market capitalization of $26.67 billion, a P/E ratio of 230.12 and a beta of 2.62. The stock has a 50-day moving average price of $152.59 and a two-hundred day moving average price of $116.88.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 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 business had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period in the previous year, the business earned $0.04 EPS. The business’s revenue was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. Equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Yat Tung Lam sold 80,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the sale, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. The trade was a 8.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $163.98, for a total value of $9,018,900.00. Following the completion of the sale, the chief technology officer directly owned 6,998,961 shares in the company, valued at approximately $1,147,689,624.78. The trade was a 0.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 973,161 shares of company stock worth $149,011,579 in the last quarter. 11.84% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC raised its stake in shares of Credo Technology Group by 20.8% in the first quarter. Mutual of America Capital Management LLC now owns 96,651 shares of the company’s stock worth $3,882,000 after purchasing an additional 16,664 shares during the last quarter. Kestra Private Wealth Services LLC bought a new stake in Credo Technology Group in the 1st quarter worth about $316,000. Avantax Advisory Services Inc. raised its position in Credo Technology Group by 90.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 10,345 shares of the company’s stock worth $415,000 after buying an additional 4,905 shares during the last quarter. Cetera Investment Advisers lifted its stake in Credo Technology Group by 213.6% during the 1st quarter. Cetera Investment Advisers now owns 37,495 shares of the company’s stock valued at $1,506,000 after acquiring an additional 25,539 shares during the period. Finally, LPL Financial LLC boosted its holdings in shares of Credo Technology Group by 363.1% during the 1st quarter. LPL Financial LLC now owns 226,644 shares of the company’s stock valued at $9,102,000 after acquiring an additional 177,708 shares during the last quarter. Institutional investors own 80.46% of the company’s stock.

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.