Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report)’s share price rose 11.4% during mid-day trading on Thursday . The stock traded as high as $268.18 and last traded at $264.76. Approximately 12,926,301 shares traded hands during trading, an increase of 72% from the average daily volume of 7,512,586 shares. The stock had previously closed at $237.68.
Credo Technology Group News Roundup
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo completed its acquisition of DustPhotonics, expanding its optical connectivity and silicon photonics portfolio for AI and cloud networking demand. The deal supports higher-speed products and could help drive growth as optical revenue ramps in coming fiscal years. Credo Technology (CRDO) Completes Acquisition of DustPhotonics to Expand Optical Connectivity Portfolio
- Positive Sentiment: Several articles highlighted Credo as a top-ranked or bullish AI-related stock, citing strong growth prospects, rising estimates, and favorable technical momentum. 3 Top Ranked Stocks Investors Can Buy Right Now
- Positive Sentiment: Analyst commentary remains constructive after earnings, with price target increases and expectations for continued strong revenue and earnings growth tied to AI infrastructure spending. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
- Neutral Sentiment: Insider sales by Director Fariba Danesh and CTO Chi Fung Cheng may have added some caution, but the CTO sale was described as part of a pre-arranged plan to cover tax withholding on equity awards, limiting the bearish signal. Credo Technology Group (NASDAQ:CRDO) Director Fariba Danesh Sells 1,100 Shares
- Neutral Sentiment: Some coverage pointed to customer concentration risk, though management is working to diversify revenue beyond a few large hyperscale customers. Credo’s Diversification Push: Can It Cut Customer Concentration Risk?
- Negative Sentiment: A Seeking Alpha downgrade to “Hold” suggests some investors think the stock may already reflect much of the near-term upside, especially after its strong run and rich valuation. Credo: Don’t Chase This Winner Over The Cliff – Downgrade To Hold
Analysts Set New Price Targets
CRDO has been the subject of several research reports. Susquehanna lifted their price target on Credo Technology Group from $200.00 to $235.00 and gave the company a “positive” rating in a report on Tuesday, June 2nd. Stifel Nicolaus set a $250.00 price objective on Credo Technology Group in a research note on Wednesday, May 27th. Zacks Research raised Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group reissued a “buy” rating and issued a $250.00 price objective on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Finally, Rothschild & Co Redburn started coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $248.41.
Credo Technology Group Stock Performance
The stock has a 50 day moving average of $184.46 and a two-hundred day moving average of $150.79. The firm has a market capitalization of $46.26 billion, a P/E ratio of 101.13, a P/E/G ratio of 1.39 and a beta of 3.22.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last issued its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 36.99% and a net margin of 35.37%.The business had revenue of $437.00 million for the quarter, compared to the consensus estimate of $431.80 million. During the same period last year, the business earned $0.20 EPS. The firm’s revenue was up 157.0% compared to the same quarter last year. Sell-side analysts predict that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.
Insider Activity at Credo Technology Group
In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $103.19, for a total value of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company’s stock, valued at $635,894,960.30. The trade was a 0.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares in the company, valued at approximately $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 376,884 shares of company stock worth $59,014,018. Company insiders own 11.84% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Credo Technology Group by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after buying an additional 59,849 shares during the period. JPMorgan Chase & Co. increased its position in Credo Technology Group by 18.3% in 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 period. State Street Corp increased its position in Credo Technology Group by 23.4% in the 4th quarter. State Street Corp now owns 4,486,320 shares of the company’s stock worth $645,537,000 after buying an additional 849,654 shares during the period. Geode Capital Management LLC increased its position in Credo Technology Group by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock worth $555,117,000 after buying an additional 184,676 shares during the period. Finally, Corient Private Wealth LLC increased its position in Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after buying an additional 3,597,318 shares during the period. 80.46% of the stock is owned by institutional investors.
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.
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