Credo Technology Group (NASDAQ:CRDO) Shares Down 7.2% – Time to Sell?

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded down 7.2% during trading on Thursday . The company traded as low as $96.15 and last traded at $96.44. 5,497,357 shares were traded during trading, a decline of 24% from the average session volume of 7,249,956 shares. The stock had previously closed at $103.91.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: New high‑end products deepen AI interconnect position — Credo rolled out its 1.6T Cardinal DSP push and expanded optical DSP lineup, reinforcing its roadmap for high‑bandwidth, power‑efficient AI links that can drive large data‑center design wins. Credo Expands AI Interconnect Play
• Positive Sentiment: Strong AI‑data‑center demand narrative — coverage highlights accelerating hyperscaler adoption, retimers/optical DSP scale and surging AEC (assembled‑electronics components) demand that support Credo’s revenue ramp. What Is Driving Credo’s Growth
• Positive Sentiment: Legal overhangs cleared — recent settlements with Molex and TE Connectivity resolve patent/active‑cable disputes, removing potential litigation uncertainty that could aid investor sentiment. Credo and Molex Settlement Credo and TE Connectivity Settlement
• Neutral Sentiment: Momentum‑stock recognition — Zacks includes CRDO in a short list of momentum anomaly picks, which can attract trend traders but adds volatility. 3 Momentum Anomaly Stocks to Buy
• Neutral Sentiment: Third‑party commentary points to potential catalyst from hyperscaler moves — some analysts/bloggers flag possible large partnerships (e.g., commentary on an Alphabet-related shift), but impacts are speculative until confirmed by customers. Seeking Alpha: Alphabet Game Changer
• Negative Sentiment: Execution and concentration risks remain — analyst deep dives caution that customer concentration, margin variability and the complexity of shifting to optical DSPs create execution risk that could amplify swings in results. Deep Dive: Catalysts, Risks & Valuation
• Negative Sentiment: High valuation and recent pullback — CRDO trades at a premium (elevated P/E and high beta) after large YTD gains; that premium makes it sensitive to short‑term profit‑taking and execution headlines.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wolfe Research set a $240.00 price objective on Credo Technology Group in a research report on Tuesday, December 2nd. The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the stock a “buy” rating in a research report on Thursday, February 19th. Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a report on Tuesday, March 3rd. Susquehanna dropped their price target on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research note on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $206.33.

Credo Technology Group Stock Down 1.2%

The firm has a 50-day simple moving average of $117.83 and a 200 day simple moving average of $141.25. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 52.91 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. The company’s revenue for the quarter was up 201.5% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. As a group, research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CEO William Joseph Brennan sold 50,000 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $127.69, for a total transaction of $6,384,500.00. Following the completion of the sale, the chief executive officer owned 1,832,502 shares in the company, valued at approximately $233,992,180.38. This represents a 2.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $143.41, for a total value of $7,887,550.00. Following the transaction, the chief technology officer directly owned 6,448,961 shares in the company, valued at approximately $924,845,497.01. This represents a 0.85% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 453,601 shares of company stock worth $58,779,070 over the last three months. 11.84% of the stock is currently owned by insiders.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently added to or reduced their stakes in CRDO. Spear Advisors LLC acquired a new stake in Credo Technology Group during the 4th quarter worth approximately $11,705,000. World Investment Advisors raised its stake in shares of Credo Technology Group by 77.5% during the fourth quarter. World Investment Advisors now owns 2,870 shares of the company’s stock worth $413,000 after purchasing an additional 1,253 shares during the last quarter. Corient Private Wealth LLC raised its stake in shares of Credo Technology Group by 1,665.6% during the fourth quarter. Corient Private Wealth LLC now owns 26,573 shares of the company’s stock worth $3,824,000 after purchasing an additional 25,068 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $25,000. Finally, Clearwave Capital LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth $708,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

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.