Credo Technology Group (NASDAQ:CRDO) Trading 5.6% Higher – Still a Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price was up 5.6% during trading on Tuesday . The stock traded as high as $225.84 and last traded at $223.87. Approximately 4,712,603 shares traded hands during trading, a decline of 39% from the average session volume of 7,719,314 shares. The stock had previously closed at $212.07.

More Credo Technology Group News

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

• Positive Sentiment: Analysts and commentators remain constructive on Credo’s long-term opportunity as AI data-center buildouts drive demand for its active electrical cables and SerDes retimers, positioning the company as a key supplier in high-speed connectivity. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Positive Sentiment: Several articles frame CRDO as a buy-on-dip AI semiconductor supply-chain stock, citing strong demand trends in high-speed networking and potential recovery after the recent decline. 4 AI Semiconductor Supply-Chain Stocks to Buy on the Recent Dip
• Positive Sentiment: Investor-letter coverage highlighted Credo as benefiting from the increasing connectivity challenge, reinforcing the view that its products are well positioned for AI infrastructure growth. 4 AI Semiconductor Supply-Chain Stocks to Buy on the Recent Dip
• Neutral Sentiment: One market note said Credo’s shares have fallen sharply over the past week, which appears to reflect profit-taking and volatility rather than a specific negative company event. Price Prediction: Credo Stock Will Trade at This Price in 2027
• Neutral Sentiment: A Seeking Alpha piece focused on Credo’s revenue shift from copper to optical networking, a strategic transition that may improve growth but also signals the business mix is still evolving. Credo: Tracking The Critical Revenue Pivot From Copper To Optical Networking

Wall Street Analyst Weigh In

CRDO has been the subject of a number of research analyst reports. Rosenblatt Securities upped their price target on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Barclays raised their price objective on shares of Credo Technology Group from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group reissued a “buy” rating and set a $250.00 target price on shares of Credo Technology Group in a report on Tuesday, June 2nd. Mizuho upped their target price on Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a research report on Tuesday, June 2nd. Finally, Weiss Ratings raised Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $266.17.

Credo Technology Group Stock Up 5.6%

The stock has a market capitalization of $41.75 billion, a P/E ratio of 90.27, a PEG ratio of 0.93 and a beta of 3.20. The firm’s 50-day simple moving average is $232.14 and its 200 day simple moving average is $167.76.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.14. The company had revenue of $437.00 million during 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 business’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 EPS. As a group, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Sylvia Acevedo sold 2,208 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $211.00, for a total transaction of $465,888.00. Following the completion of the sale, the director directly owned 16,337 shares of the company’s stock, valued at $3,447,107. This trade represents a 11.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Chi Fung Cheng sold 3,790 shares of Credo Technology Group stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $258.71, for a total value of $980,510.90. Following the completion of the transaction, the chief technology officer owned 140,358 shares in the company, valued at $36,312,018.18. The trade was a 2.63% decrease in their ownership of the stock. 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. Insiders have sold a total of 329,662 shares of company stock worth $76,068,196 over the last quarter. 11.84% of the stock is currently owned by insiders.

Institutional Trading of Credo Technology Group

Several institutional investors and hedge funds have recently bought and sold shares of CRDO. NewEdge Advisors LLC raised its holdings in shares of Credo Technology Group by 128.4% during the first quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock valued at $284,000 after acquiring an additional 3,972 shares during the period. Goldman Sachs Group Inc. boosted its stake in Credo Technology Group by 63.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after purchasing an additional 589,151 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Credo Technology Group by 2.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock worth $12,480,000 after purchasing an additional 7,107 shares during the period. CW Advisors LLC purchased a new position in Credo Technology Group during the 2nd quarter worth approximately $288,000. Finally, EverSource Wealth Advisors LLC grew its position in Credo Technology Group by 198.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock worth $46,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds 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.