Credo Technology Group (NASDAQ:CRDO) Trading Up 9% – Still a Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shot up 9% during mid-day trading on Thursday . The company traded as high as $274.90 and last traded at $271.83. Approximately 9,178,010 shares changed hands during mid-day trading, an increase of 22% from the average session volume of 7,543,447 shares. The stock had previously closed at $249.33.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Market commentary says Credo Technology is emerging as a key AI connectivity supplier, with its data center and optical networking products positioned to benefit from continued AI infrastructure spending. Credo Technologies Accelerates AI—Its Stock Price Will Follow
• Positive Sentiment: Credo Technology Group received 2026 USA TODAY Top Workplaces honors for the second year in a row, reinforcing its ability to attract and retain talent. Credo Earns 2026 National and Regional Top Workplace Honors
• Positive Sentiment: Analysts remain constructive overall after Credo’s strong fiscal 2026 results, which included triple-digit revenue growth and earnings above expectations.
• Neutral Sentiment: CTO Chi Fung Cheng sold 27,500 shares in a Rule 10b5-1 transaction; the sale is notable but was pre-planned and small relative to his remaining holdings. Credo Technology Group stock and insider trade details
• Negative Sentiment: Bearish commentary warns that CRDO may be overheated after its sharp run, with one analysis arguing the shares could be trading well above intrinsic value. Credo Technology Group Holding (CRDO) Stock Could Be 109.1% Overvalued After Its Recent Run

Analyst Ratings Changes

CRDO has been the subject of several recent research reports. The Goldman Sachs Group restated a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. Needham & Company LLC lifted their price target on shares of Credo Technology Group from $220.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, June 1st. Mizuho boosted their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Susquehanna increased 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 note on Tuesday, June 2nd. Finally, Craig Hallum restated a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $248.41.

Credo Technology Group Price Performance

The stock has a 50-day moving average price of $199.85 and a 200-day moving average price of $154.16. The company has a market capitalization of $50.69 billion, a price-to-earnings ratio of 109.61, a PEG ratio of 1.43 and a beta of 3.22.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $431.80 million. During the same period 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 forecast that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $118.25, for a total value of $3,251,875.00. Following the completion of the sale, the chief technology officer owned 6,134,870 shares in the company, valued at $725,448,377.50. The trade was a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Daniel W. Fleming sold 40,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $249.48, for a total transaction of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This represents a 7.38% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 416,884 shares of company stock valued at $72,809,943 in the last ninety days. 11.84% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position 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 buying an additional 59,849 shares in the last quarter. State Street Corp lifted its position in shares of Credo Technology Group by 23.4% during the 4th quarter. State Street Corp now owns 4,486,320 shares of the company’s stock valued at $645,537,000 after acquiring an additional 849,654 shares during the period. Geode Capital Management LLC lifted 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 acquiring an additional 184,676 shares during the period. Corient Private Wealth LLC grew its holdings in shares of 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 purchasing an additional 3,597,318 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in shares of Credo Technology Group by 66.0% in the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares during the period. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.