Credo Technology Group (NASDAQ:CRDO) Trading Up 2.6% – Time to Buy?
by Danessa Lincoln · The Markets DailyCredo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report)’s stock price rose 2.6% during trading on Thursday . The company traded as high as $238.74 and last traded at $230.43. Approximately 3,588,007 shares traded hands during trading, a decline of 52% from the average session volume of 7,544,847 shares. The stock had previously closed at $224.63.
Credo Technology Group News Summary
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: A potential Federal Communications Commission restriction on imports of new Chinese optical transceivers could create an industry supply bottleneck. Because China controls more than half of the global transceiver market, the policy could benefit U.S.-aligned suppliers and increase demand for Credo’s connectivity products. Potential AI optical transceiver bottleneck
- Positive Sentiment: Market coverage continues to identify CRDO as a beneficiary of AI-driven photonics demand. Its expanding optical and interconnect portfolio, along with bullish revenue expectations, supports the long-term growth narrative. AI-led photonics stocks with room to grow
- Positive Sentiment: Credo showcased interconnect products for AI memory and storage at Flash Memory Summit 2026, highlighting solutions designed for data-center scale requirements and high-bandwidth infrastructure. Credo AI interconnect products at FMS 2026
- Neutral Sentiment: Credo’s latest reported quarter showed revenue growth of 157% year over year and earnings above analyst expectations, reinforcing operating momentum. However, the stock’s roughly 93 price-to-earnings ratio leaves less room for execution or growth disappointments.
- Negative Sentiment: Zacks Research downgraded Credo from “strong buy” to “hold,” adding to concerns that much of the AI growth opportunity may already be reflected in the share price. Zacks Research
- Negative Sentiment: Executives disclosed substantial sales under pre-arranged Rule 10b5-1 plans: the CTO sold 27,473 shares for about $5.8 million, while the COO sold 105,441 shares for roughly $22.5 million. Both retain sizable positions, but the transactions signal profit-taking following CRDO’s strong rally. SEC insider sale filings
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on CRDO shares. TD Cowen increased their target price on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Mizuho increased their price objective on Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Zacks Research cut shares of Credo Technology Group from a “strong-buy” rating to a “hold” rating in a report on Monday. Wall Street Zen downgraded shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Evercore began coverage on shares of Credo Technology Group in a research note on Monday, June 22nd. They issued an “outperform” rating and a $325.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $266.17.
Read Our Latest Analysis on CRDO
Credo Technology Group Stock Up 2.6%
The company has a market cap of $42.97 billion, a P/E ratio of 92.92, a price-to-earnings-growth ratio of 1.09 and a beta of 3.23. The company has a fifty day moving average of $236.99 and a 200 day moving average of $173.45.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.14. The business had revenue of $437.00 million for the quarter, compared to the consensus estimate 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 period last year, the firm earned $0.20 earnings per share. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 4.84 EPS for the current year.
Insider Transactions at Credo Technology Group
In other Credo Technology Group news, CTO Chi Fung Cheng sold 27,500 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $243.06, for a total transaction of $6,684,150.00. Following the completion of the sale, the chief technology officer directly owned 5,882,370 shares of the company’s stock, valued at approximately $1,429,768,852.20. This represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $218.57, for a total value of $12,017,852.88. Following the completion of the sale, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. The trade was a 13.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 435,076 shares of company stock valued at $101,043,506 over the last quarter. 11.84% of the stock is owned by insiders.
Institutional Trading of Credo Technology Group
A number of hedge funds and other institutional investors have recently made changes to their positions in CRDO. NewEdge Advisors LLC boosted its stake in shares of Credo Technology Group by 128.4% during the 1st quarter. NewEdge Advisors LLC now owns 7,066 shares of the company’s stock worth $284,000 after acquiring an additional 3,972 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Credo Technology Group by 63.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,524,788 shares of the company’s stock worth $61,235,000 after buying an additional 589,151 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Credo Technology Group by 2.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 310,763 shares of the company’s stock valued at $12,480,000 after buying an additional 7,107 shares in the last quarter. CW Advisors LLC purchased a new stake in shares of Credo Technology Group during the 2nd quarter worth $288,000. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Credo Technology Group by 198.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 501 shares of the company’s stock valued at $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.
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.