Credo Technology Group (NASDAQ:CRDO) Trading Up 9.2% – Here’s What Happened

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded up 9.2% during trading on Tuesday . The company traded as high as $142.00 and last traded at $134.72. 12,375,309 shares traded hands during mid-day trading, an increase of 72% from the average session volume of 7,180,964 shares. The stock had previously closed at $123.41.

Key Stories Impacting Credo Technology Group

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

• Positive Sentiment: Credo reported preliminary Q3 revenue of $404–$408M, well above consensus (~$341M), signaling strong demand from hyperscale and AI networking customers — the primary catalyst for today’s rally. Read More.
• Positive Sentiment: Analysts and outlets are flagging the beat and raised outlook as confirmation that Credo’s connectivity products are being adopted faster in AI and hyperscale builds — coverage and buy-side interest have accelerated as a result. Read More.
• Positive Sentiment: Needham reaffirmed a “buy” on CRDO and set a $220 price target (?63% upside from the premarket level cited), which supports additional upside as investors digest the stronger revenue trajectory. Read More.
• Positive Sentiment: Multiple equities outlets (Schaeffer’s, Benzinga, Investing.com) are running headlines highlighting the preliminary revenue beat and raised expectations ahead of formal Q3 results, boosting visibility and momentum into the scheduled earnings release. Read More.
• Neutral Sentiment: Some analyst write-ups note Credo’s recent pullback and valuation compression — framing today’s move as a mean-reversion/confirmation trade rather than a full rerating; longer-term multiples will depend on sustained revenue scaling into FY27. Read More.
• Neutral Sentiment: Investor previews and earnings previews highlight that while Credo’s cable/connectivity roots remain important, the company is increasingly being valued as an AI/hyperscale networking play — watch upcoming formal Q3 results and management commentary for orders, margin drivers and FY27 cadence. Read More.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CRDO shares. Rosenblatt Securities started coverage on Credo Technology Group in a report on Wednesday, January 21st. They set a “neutral” rating and a $170.00 price objective on the stock. Roth Mkm dropped their price target on Credo Technology Group from $250.00 to $200.00 and set a “buy” rating on the stock in a research note on Tuesday. Wolfe Research set a $240.00 price objective on Credo Technology Group in a research note on Tuesday, December 2nd. Zacks Research lowered shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $220.00 target price on shares of Credo Technology Group in a report on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $212.69.

Credo Technology Group Trading Up 9.2%

The stock has a fifty day simple moving average of $144.08 and a two-hundred day simple moving average of $142.69. The company has a market cap of $24.33 billion, a PE ratio of 118.18 and a beta of 2.65.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, December 1st. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The business had revenue of $268.03 million during the quarter, compared to analysts’ expectations of $234.99 million. During the same period last year, the firm earned $0.07 EPS. The company’s quarterly revenue was up 272.1% compared to the same quarter last year. As a group, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.70, for a total transaction of $9,608,500.00. Following the completion of the sale, the chief technology officer directly owned 6,613,961 shares in the company, valued at approximately $1,155,458,986.70. This trade represents a 0.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $7,658,000.00. Following the completion of the sale, the chief executive officer directly owned 1,892,502 shares in the company, valued at $289,855,606.32. This trade represents a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 917,976 shares of company stock worth $136,567,647. 11.84% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

Institutional investors and hedge funds have recently modified their holdings of the business. Crewe Advisors LLC boosted its stake in shares of Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after acquiring an additional 106 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth about $25,000. First Horizon Corp acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth about $26,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Credo Technology Group during the fourth quarter worth about $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.