Credo Technology Group (NASDAQ:CRDO) Trading 9.8% Higher – Time to Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price traded up 9.8% on Monday . The company traded as high as $280.50 and last traded at $265.55. 7,477,536 shares traded hands during trading, a decline of 5% from the average session volume of 7,868,352 shares. The stock had previously closed at $241.91.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: CRDO was added to Zacks’ Rank #1 (Strong Buy) growth stocks list, reinforcing a bullish analyst view and potentially attracting momentum investors.
• Positive Sentiment: Several articles highlighted Credo as an AI revenue accelerator, citing strong sales growth, buy ratings, and its role in the semiconductor supply chain serving AI infrastructure.
• Positive Sentiment: Commentary also pointed to Credo’s retimer business gaining traction, with demand for 100G and 200G-per-lane solutions supported by AI networking needs and design wins.
• Positive Sentiment: One Seeking Alpha piece said Credo scored a “major win” from Nvidia’s delay, suggesting a competitive timing advantage that could boost near-term business prospects.
• Positive Sentiment: MarketBeat and other coverage framed Credo as an overlooked AI hardware stock with outsized growth, while a separate article noted BlackRock’s sizable stake and recent Bank of America target-price increase, adding to investor confidence.
• Neutral Sentiment: Some articles were comparative, pitting Credo against Marvell Technology or discussing whether it is a better AI/connectivity stock in 2026, which is informative but not directly catalytic.
• Negative Sentiment: One Seeking Alpha article argued “Q3 Won’t Be As Kind,” indicating some concern that upcoming results or near-term momentum could be less favorable than recent quarters.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on CRDO shares. Roth Capital increased their price target on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Jefferies Financial Group upped their target price on Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. JPMorgan Chase & Co. lifted their price target on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, June 2nd. Finally, Rothschild & Co Redburn began coverage on Credo Technology Group in a report on Friday, May 1st. They set a “buy” rating and a $206.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $263.11.

Credo Technology Group Trading Down 7.2%

The firm has a market capitalization of $45.95 billion, a price-to-earnings ratio of 99.35, a PEG ratio of 1.21 and a beta of 3.20. The stock’s 50-day moving average is $223.55 and its 200-day moving average is $162.25.

Credo Technology Group (NASDAQ:CRDO) last issued its earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. The firm had revenue of $437.00 million for the quarter, compared to analyst estimates of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 32.30%. The company’s quarterly revenue was up 157.0% on a year-over-year basis. During the same quarter last year, the business posted $0.20 earnings per share. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 27,500 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $118.25, for a total transaction of $3,251,875.00. Following the sale, the chief technology officer directly owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. The trade was a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This represents a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 363,372 shares of company stock valued at $76,926,125 in the last 90 days. Corporate insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Crewe Advisors LLC increased its holdings in Credo Technology Group by 163.1% in the fourth 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 stake in shares of Credo Technology Group in the 4th quarter valued at about $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group in the fourth quarter valued at about $25,000. Flagship Harbor Advisors LLC bought a new position in shares of Credo Technology Group during the fourth quarter worth about $32,000. Finally, AlphaCentric Advisors LLC bought a new position in shares of Credo Technology Group during the first quarter worth about $33,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.