Credo Technology Group (NASDAQ:CRDO) Shares Up 2.9% – Here’s Why

Posted by Brian Himes on Jul 31st, 2026

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report) rose 2.9% during mid-day trading on Friday . The stock traded as high as $216.99 and last traded at $206.99. Approximately 6,402,688 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 7,615,182 shares. The stock had previously closed at $201.08.

Analyst Ratings Changes

Several research firms have commented on CRDO. Weiss Ratings raised shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group reiterated a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Rosenblatt Securities increased their price objective on Credo Technology Group from $175.00 to $215.00 and gave the company a “neutral” rating in a report on Tuesday, June 2nd. Susquehanna raised their price objective on Credo Technology Group from $235.00 to $250.00 and gave the company a “positive” rating in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. boosted their target price on Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $266.17.

View Our Latest Research Report on CRDO

Credo Technology Group Stock Up 2.9%

The company has a market capitalization of $38.60 billion, a price-to-earnings ratio of 83.46, a P/E/G ratio of 0.81 and a beta of 3.20. The company has a 50-day moving average price of $236.83 and a 200-day moving average price of $171.59.

Credo Technology Group (NASDAQ:CRDO – Get Free Report) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to analysts’ expectations of $431.80 million. During the same quarter in the previous year, the firm earned $0.20 EPS. The firm’s revenue was up 157.0% compared to the same quarter last year. Equities analysts expect that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insider Activity at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $205.54, for a total value of $5,652,350.00. Following the completion of the sale, the chief technology officer directly owned 5,799,870 shares of the company’s stock, valued at approximately $1,192,105,279.80. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 7,580 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $245.88, for a total transaction of $1,863,770.40. Following the completion of the sale, the chief financial officer owned 504,708 shares in the company, valued at approximately $124,097,603.04. The trade was a 1.48% 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 302,162 shares of company stock valued at $72,810,546 over the last three months. 11.84% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently bought and sold shares of the stock. City Center Advisors LLC grew its position in Credo Technology Group by 2.1% during the second quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after buying an additional 53 shares in the last quarter. Versant Capital Management Inc increased its stake in Credo Technology Group by 8.0% during the second quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after acquiring an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in Credo Technology Group by 16.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock valued at $80,000 after acquiring an additional 77 shares in the last quarter. QRG Capital Management Inc. raised its holdings in Credo Technology Group by 1.7% in the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock valued at $507,000 after acquiring an additional 91 shares in the last quarter. Finally, Bank of Nova Scotia lifted its position in shares of Credo Technology Group by 1.6% in the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock worth $566,000 after acquiring an additional 92 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Company Profile

(Get Free Report)

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.