Credo Technology Group (NASDAQ:CRDO) Trading 5.4% Higher After Analyst Upgrade

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price rose 5.4% during mid-day trading on Wednesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $107.43 and last traded at $102.54. Approximately 8,802,913 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 7,187,739 shares. The stock had previously closed at $97.30.

A number of other equities research analysts have also issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $220.00 target price on shares of Credo Technology Group in a research note on Tuesday. Stifel Nicolaus set a $200.00 price target on Credo Technology Group in a report on Tuesday. Rosenblatt Securities dropped their price objective on shares of Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating on the stock in a research note on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research report on Monday, December 29th. Finally, Roth Mkm lowered their price target on shares of Credo Technology Group from $250.00 to $200.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $206.33.

Insider Buying and Selling at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.70, for a total value of $9,608,500.00. Following the sale, the chief technology officer owned 6,613,961 shares in the company, valued at approximately $1,155,458,986.70. This represents a 0.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Yat Tung Lam sold 370,000 shares of Credo Technology Group stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $153.19, for a total value of $56,680,300.00. Following the completion of the transaction, the chief operating officer owned 400,000 shares of the company’s stock, valued at $61,276,000. This trade represents a 48.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 916,101 shares of company stock worth $136,220,453 in the last ninety days. 11.84% of the stock is owned by insiders.

Credo Technology Group News Roundup

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

• Positive Sentiment: Big Q3 beat — Credo reported a blowout quarter with revenue up ~201% year-over-year, a solid EPS beat and strong margins, giving a fundamental growth story that supports higher valuations. Earnings/Reaction
• Positive Sentiment: M&A and partnerships broaden AI/data-center exposure — the CoMira acquisition and a TensorWave tie-up expand Credo’s connectivity IP and go-to-market for advanced AI racks, strengthening the company’s growth runway. CoMira Deal
• Positive Sentiment: Industry tailwinds and vendor positioning — Broadcom’s public tilt toward copper-based connectivity helped lift Credo, since its products align with that trend. Broadcom Signal
• Positive Sentiment: Analyst support and rising estimates — JPMorgan maintained an Overweight view and several outlets note upward revisions to earnings estimates and sizable average price-target upside, which can underpin medium-term upside. JPMorgan Note
• Neutral Sentiment: Short-interest reporting looks unreliable — recent short-interest posts show zero shares/NaN changes and a 0.0 days-to-cover metric, which likely reflects a data/reporting issue rather than meaningful short activity. (Internal short-interest entries)
• Negative Sentiment: Analyst downgrades and lowered expectations — multiple firms (including Rosenblatt, Susquehanna, Mizuho and others) have trimmed forecasts or expressed caution; those moves triggered a sharp gap down and a prior one-day ~15% sell-off. Downgrade/Share Drop
• Negative Sentiment: Post-earnings volatility and risk callouts — several pieces highlight that while results were strong, valuation sensitivity and execution risks could keep the stock choppy in the near term. Volatility Discussion

Institutional Investors Weigh In On Credo Technology Group

A number of institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Credo Technology Group by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 16,585,229 shares of the company’s stock worth $2,386,449,000 after purchasing an additional 59,849 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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 last quarter. State Street Corp boosted its holdings in shares of Credo Technology Group by 23.4% in the 4th quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after buying an additional 849,654 shares during the period. Geode Capital Management LLC grew its position in shares of Credo Technology Group by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 3,862,041 shares of the company’s stock valued at $555,117,000 after buying an additional 184,676 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in Credo Technology Group by 239,024.5% during the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after acquiring an additional 3,597,318 shares during the period. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group Price Performance

The stock’s fifty day simple moving average is $130.40 and its 200-day simple moving average is $142.96. The stock has a market cap of $20.26 billion, a P/E ratio of 61.02 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.07 earnings per share 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 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 business’s quarterly revenue was up 201.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.25 EPS. Analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 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.