Credo Technology Group (NASDAQ:CRDO) Shares Up 8.4% – What’s Next?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price traded up 8.4% during mid-day trading on Friday . The company traded as high as $177.98 and last traded at $177.75. 5,664,043 shares were traded during trading, an increase of 4% from the average session volume of 5,450,733 shares. The stock had previously closed at $164.01.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CRDO. JPMorgan Chase & Co. initiated coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They issued an “overweight” rating and a $165.00 target price for the company. Mizuho lifted their price target on Credo Technology Group from $135.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, September 4th. Wall Street Zen upgraded Credo Technology Group from a “hold” rating to a “buy” rating in a research report on Sunday, September 28th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a report on Wednesday, October 8th. Finally, Susquehanna raised their price target on shares of Credo Technology Group from $165.00 to $175.00 and gave the company a “positive” rating in a research note on Wednesday, October 22nd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $140.36.

Credo Technology Group Stock Up 8.4%

The company has a market cap of $30.75 billion, a P/E ratio of 265.30 and a beta of 2.62. The firm’s 50 day moving average is $152.21 and its two-hundred day moving average is $118.26.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $223.07 million for the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Yat Tung Lam sold 80,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $143.53, for a total value of $11,482,400.00. Following the transaction, the chief operating officer owned 920,000 shares in the company, valued at approximately $132,047,600. The trade was a 8.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel W. Fleming sold 112,580 shares of Credo Technology Group stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the transaction, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at $63,389,299.60. This represents a 19.71% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 973,161 shares of company stock worth $149,011,579. 11.84% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Credo Technology Group

Institutional investors and hedge funds have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its holdings in Credo Technology Group by 14.8% in the third quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company’s stock worth $125,000 after purchasing an additional 111 shares in the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of Credo Technology Group during the 3rd quarter worth approximately $2,301,000. WBI Investments LLC acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth approximately $451,000. Coldstream Capital Management Inc. bought a new stake in shares of Credo Technology Group in the 3rd quarter valued at $303,000. Finally, Danske Bank A S acquired a new position in shares of Credo Technology Group during the 3rd quarter valued at $4,328,000. Institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.