Credo Technology Group (NASDAQ:CRDO) Shares Up 8.3% After Analyst Upgrade

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price rose 8.3% during trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $187.70 and last traded at $182.98. Approximately 7,381,032 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 7,066,015 shares. The stock had previously closed at $168.99.

Several other research analysts also recently issued reports on the company. Weiss Ratings cut Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Rothschild & Co Redburn initiated coverage on Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price objective for the company. The Goldman Sachs Group boosted their price objective on Credo Technology Group from $150.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 16th. Mizuho dropped their price objective on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Finally, Rosenblatt Securities boosted their price objective on Credo Technology Group from $125.00 to $175.00 and gave the stock a “neutral” rating in a report on Wednesday, April 15th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $207.71.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 6,149 shares of Credo Technology Group stock in a transaction that occurred on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total value of $623,816.05. Following the sale, the chief executive officer directly owned 222,311 shares in the company, valued at $22,553,450.95. This trade represents a 2.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider James Laufman sold 10,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $164.41, for a total transaction of $1,644,100.00. Following the completion of the sale, the insider owned 198,609 shares in the company, valued at $32,653,305.69. This trade represents a 4.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 386,608 shares of company stock valued at $50,371,351 over the last ninety days. 11.84% of the stock is currently owned by company insiders.

Key Headlines Impacting Credo Technology Group

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Credo was highlighted as an AI infrastructure winner alongside Nvidia, Innodata and Qualcomm, keeping investor focus on its exposure to edge computing and data growth. Zacks Investment Ideas feature highlights: Nvidia, Innodata, Credo Technology and Qualcomm
• Positive Sentiment: Zacks framed CRDO as one of the better alternative AI stocks to Nvidia, suggesting more upside as investors look beyond the mega-cap leader. Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Positive Sentiment: Credo jumped after announcing an AI Factory partnership with Rebellions to integrate ZeroFlap cables into RebelPOD, which could strengthen its position in scalable AI data center builds. AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
• Positive Sentiment: Several outlets described Credo as a “Bull of the Day” and a top semiconductor stock with high upside potential, adding to the upbeat sentiment around the shares. Bull of the Day: Credo Technology Group (CRDO)
• Neutral Sentiment: One article compared CRDO with Coherent as an AI connectivity stock, but the piece was more of an industry comparison than a fresh catalyst. CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Negative Sentiment: Broader market coverage noted Nvidia weakness and mixed trading in AI names, which could have tempered enthusiasm even as Credo outperformed. Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Institutional Investors Weigh In On Credo Technology Group

Several large investors have recently made changes to their positions in CRDO. Corient Private Wealth LLC boosted its holdings in shares of 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 valued at $517,835,000 after buying an additional 3,597,318 shares during the last quarter. Amundi raised its stake in Credo Technology Group by 28,478.2% in the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock valued at $224,439,000 after acquiring an additional 1,554,338 shares during the period. Janus Henderson Group PLC raised its stake in Credo Technology Group by 841.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock valued at $228,979,000 after acquiring an additional 1,422,391 shares during the period. Bank of America Corp DE raised its stake in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock valued at $331,710,000 after acquiring an additional 1,406,752 shares during the period. Finally, Rafferty Asset Management LLC bought a new stake in Credo Technology Group in the 3rd quarter valued at $183,553,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Trading Up 12.9%

The firm has a market cap of $40.29 billion, a P/E ratio of 121.34 and a beta of 3.17. The business has a 50 day moving average of $144.76 and a two-hundred day moving average of $142.53.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.29. The firm had revenue of $407.01 million for the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The company’s quarterly revenue was up 201.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.25 EPS. On average, sell-side analysts predict that Credo Technology Group Holding Ltd. will post 2.36 EPS for the current year.

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.