Credo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report)’s share price rose 1.4% during mid-day trading on Thursday . The company traded as high as $227.69 and last traded at $217.50. Approximately 7,415,132 shares were traded during mid-day trading, an increase of 3% from the average daily volume of 7,232,183 shares. The stock had previously closed at $214.60.
More Credo Technology Group News
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Credo reported record fiscal 2026 results, with revenue more than tripling year over year and earnings beating expectations, reinforcing momentum in its AI data-center connectivity business.
- Positive Sentiment: Management said optical revenue could exceed $600 million in fiscal 2027 and guided for more than 80% revenue growth, suggesting a new leg of expansion beyond its core copper/AEC products.
- Positive Sentiment: Several analyst and commentary pieces turned bullish on CRDO, citing continued demand from hyperscalers, a strong gross margin profile, and the company’s growing role in AI networking infrastructure. Article Title
- Neutral Sentiment: Some reports noted that growth is normalizing from the recent surge and that expanding into optics may pressure margins over time because optics is expected to be a lower-margin business.
- Neutral Sentiment: Commentary also raised valuation questions after CRDO’s sharp multi-month run, with some investors wondering whether the stock already reflects much of the near-term optimism.
Analysts Set New Price Targets
CRDO has been the subject of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday. TD Cowen boosted their price objective on shares of Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday. Jefferies Financial Group boosted their price objective on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research report on Tuesday. Roth Mkm boosted their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Susquehanna boosted their price objective on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Credo Technology Group has an average rating of “Moderate Buy” and an average target price of $248.41.
Credo Technology Group Stock Performance
The firm’s 50-day moving average is $165.25 and its 200 day moving average is $146.27. The stock has a market cap of $40.12 billion, a PE ratio of 87.70 and a beta of 3.22.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. Credo Technology Group’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 3.78 EPS for the current fiscal year.
Insider Buying and Selling
In other Credo Technology Group news, CEO William Joseph Brennan sold 6,149 shares of the company’s stock in a transaction that occurred on Sunday, April 5th. The stock was sold at an average price of $101.45, for a total transaction of $623,816.05. Following the completion of the sale, the chief executive officer directly owned 222,311 shares of the company’s stock, valued at $22,553,450.95. This represents a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 7,580 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total value of $1,156,935.40. Following the sale, the chief financial officer directly owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 386,608 shares of company stock valued at $50,371,351 in the last quarter. 11.84% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Credo Technology Group
A number of large investors have recently bought and sold shares of CRDO. Corient Private Wealth LLC raised its position in Credo Technology Group by 239,024.5% during 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 last quarter. Amundi raised its position in Credo Technology Group by 28,478.2% during the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock worth $224,439,000 after buying an additional 1,554,338 shares during the last quarter. Janus Henderson Group PLC raised its position in Credo Technology Group by 841.9% during the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock worth $228,979,000 after buying an additional 1,422,391 shares during the last quarter. Bank of America Corp DE raised its position in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after buying an additional 1,406,752 shares during the last quarter. Finally, Rafferty Asset Management LLC purchased a new position in Credo Technology Group during the 3rd quarter worth $183,553,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.
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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