Credo Technology Group (NASDAQ:CRDO) Trading Down 7.8% – Time to Sell?

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded down 7.8% during mid-day trading on Thursday . The stock traded as low as $155.41 and last traded at $155.2360. 1,617,639 shares traded hands during trading, a decline of 77% from the average session volume of 7,173,266 shares. The stock had previously closed at $168.35.

More Credo Technology Group News

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

• Positive Sentiment: Announced acquisition of DustPhotonics (?$750M) to add silicon?photonic PIC tech for optical transceivers and broaden Credo’s addressable market in AI and data?center connectivity — the deal is the main catalyst behind recent rallies. Credo DustPhotonics acquisition
• Positive Sentiment: Analyst support and coverage: Needham reaffirmed a Buy with a $220 target and Jefferies initiated coverage (both helped momentum); several firms raised targets recently — these endorsements boosted investor confidence. Brokerage notes
• Positive Sentiment: Heavy call?option buying and elevated options flow were reported, indicating speculative bullish positioning that amplified the recent up move. Options activity
• Neutral Sentiment: Credo published its FY2025 Greenhouse Gas report, starting an ESG disclosure track that may matter to long?term institutional holders but is unlikely to drive short?term price moves. GHG report
• Neutral Sentiment: Management hosted an M&A call/transcript to outline DustPhotonics integration and synergies — investors will parse timing, costs and margin impact; details could swing sentiment either way. M&A call transcript
• Negative Sentiment: Insider selling: CTO Chi Fung Cheng disclosed multiple Rule 10b5?1 sales (most recently 27,500 shares). While routine and small versus his remaining stake, such sales contribute to near?term selling pressure and may prompt profit?taking. Insider sale disclosure
• Negative Sentiment: Mixed/neutral research actions (e.g., Zacks trimmed ratings, Rosenblatt set a neutral rating despite a higher PT) add ambiguity — after a sharp run, any cautious notes can trigger pullbacks. Zacks note

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Rosenblatt Securities raised their price target on shares of Credo Technology Group from $125.00 to $175.00 and gave the stock a “neutral” rating in a research note on Wednesday. Craig Hallum restated a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a research note on Tuesday, March 3rd. Barclays restated an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a research note on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research note on Friday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $220.00 price target on shares of Credo Technology Group in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $207.81.

Credo Technology Group Trading Down 5.5%

The company’s fifty day moving average is $113.99 and its 200 day moving average is $137.04. The company has a market capitalization of $29.35 billion, a P/E ratio of 88.69 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. The company had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 29.63%. Credo Technology Group’s revenue for the quarter was up 201.5% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. Equities research analysts predict 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 Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the firm’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the transaction, the chief executive officer directly owned 1,782,502 shares of the company’s stock, valued at $209,764,835.36. This trade represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Chi Fung Cheng sold 30,000 shares of the firm’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $136.33, for a total transaction of $4,089,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,327,370 shares of the company’s stock, valued at approximately $862,610,352.10. The trade was a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 386,419 shares of company stock valued at $44,731,310. Insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in Credo Technology Group in the 3rd quarter valued at $25,000. Crewe Advisors LLC boosted its holdings in Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after purchasing an additional 106 shares during the period. Reflection Asset Management bought a new position in Credo Technology Group in the 4th quarter valued at $25,000. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group in the 4th quarter valued at $25,000. Finally, First Horizon Corp bought a new position in Credo Technology Group in the 3rd quarter valued at $26,000. 80.46% of the stock is owned by 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.