Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $216.36 and last traded at $215.3090, with a volume of 5069817 shares traded. The stock had previously closed at $193.39.
Key Credo Technology Group News
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo was upgraded by Zacks Research from hold to strong-buy, adding to the bullish tone around the stock. Tickerreport.com: Credo Technology Group was upgraded by Zacks Research from “hold” to “strong-buy”
- Positive Sentiment: Coverage described Credo as a beneficiary of the AI boom, with investors viewing the company as a key connectivity play for AI data centers and factories. Zacks: Bull of the Day: Credo Technology Group (CRDO)
- Positive Sentiment: New commentary highlighted Credo as one of the best semiconductor stocks with high upside potential, and cited prior Buy coverage from Rothschild & Co Redburn. Yahoo Finance: Why Credo Technology Group Holding Ltd (CRDO) is One of the Best Semiconductor Stocks With the Highest Upside Potential Right Now
- Positive Sentiment: Credo’s stock also got a lift from news that it partnered with Rebellions to integrate ZeroFlap cables into RebelPOD, a move aimed at scalable AI factories and enterprise inference. Zacks: AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
- Neutral Sentiment: Fresh analysis comparing CRDO with Coherent (COHR) kept attention on Credo’s strategy around AEC adoption, new product families, and the DustPhotonics deal, but did not introduce a new catalyst by itself. Zacks: CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
- Neutral Sentiment: Additional commentary framed Credo as an alternative AI stock to Nvidia, which may be helping sentiment, though this was more of a thematic call than a company-specific development. Zacks: Has Nvidia Become Too Big? 3 Alternative AI Stocks
- Negative Sentiment: No material negative company-specific news was reported in the latest articles; the main risk is that the stock’s strong run could leave it vulnerable if AI sentiment cools. Yahoo Finance: Stock Market Today
Analyst Ratings Changes
A number of research firms recently weighed in on CRDO. Roth Mkm lowered their price target on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $220.00 price target on shares of Credo Technology Group in a report on Wednesday, April 15th. Mizuho lowered their price target on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Jefferies Financial Group began coverage on Credo Technology Group in a report on Monday, April 13th. They issued a “buy” rating and a $175.00 price target on the stock. Finally, Rothschild & Co Redburn began coverage on Credo Technology Group in a report on Friday, May 1st. They issued a “buy” rating and a $206.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $207.71.
Credo Technology Group Trading Up 11.6%
The stock has a market cap of $39.82 billion, a PE ratio of 119.92 and a beta of 3.17. The business has a 50 day moving average of $144.76 and a 200-day moving average of $142.53.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. During the same quarter in the prior year, the company posted $0.25 EPS. The business’s revenue for the quarter was up 201.5% compared to the same quarter last year. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current fiscal year.
Insider Activity
In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at $209,764,835.36. This trade represents a 2.73% 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 27,500 shares of the firm’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total value of $3,234,000.00. Following the completion of the transaction, the chief technology officer directly owned 6,272,370 shares in the company, valued at $737,630,712. This trade represents a 0.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 386,608 shares of company stock worth $50,371,351 over the last three months. 11.84% of the stock is currently owned by corporate insiders.
Institutional Trading of Credo Technology Group
Large investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Credo Technology Group by 9.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 271,067 shares of the company’s stock valued at $39,004,000 after acquiring an additional 23,332 shares in the last quarter. Optimize Financial Inc acquired a new stake in shares of Credo Technology Group during the third quarter valued at about $1,431,000. Estate Counselors LLC acquired a new stake in shares of Credo Technology Group during the third quarter valued at about $2,548,000. FengHe Fund Management Pte. Ltd. grew its stake in Credo Technology Group by 5.7% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 162,269 shares of the company’s stock worth $23,349,000 after purchasing an additional 8,769 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Credo Technology Group by 428.8% in the fourth quarter. M&T Bank Corp now owns 13,427 shares of the company’s stock worth $1,932,000 after purchasing an additional 10,888 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.
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.
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