Credo Technology Group (NASDAQ:CRDO) Trading Up 3.8% – Still a Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price rose 3.8% during trading on Monday . The company traded as high as $156.43 and last traded at $156.07. Approximately 4,570,981 shares were traded during mid-day trading, a decline of 35% from the average daily volume of 7,058,421 shares. The stock had previously closed at $150.42.

Credo Technology Group News Roundup

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

• Positive Sentiment: Positive momentum stories from retail/financial press that can attract buying interest — recent pieces highlight CRDO as a top momentum pick, increasing visibility among momentum traders and retail investors. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd. (CRDO) is a Great Choice
• Positive Sentiment: Additional bullish write-up from Zacks reinforcing the momentum narrative; such analyst/coverage pieces often boost short-term demand and can amplify moves after strong recent earnings. Are You Looking for a Top Momentum Pick? Why Credo Technology Group Holding Ltd.
• Positive Sentiment: Follow-up coverage noting a recent price gain increases attention and may trigger additional buying from momentum/short-term traders. Credo Technology Group (NASDAQ:CRDO) Shares Up 6.2% – Should You Buy?
• Neutral Sentiment: Reported short-interest data shows effectively zero short interest (and an anomalous “NaN” change), suggesting little short-seller pressure to fuel squeezes — likely a data/reporting quirk rather than a market driver. (No link available.)
• Negative Sentiment: Insider selling by executives — CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) (SEC Form 4 filed). Large insider sales by senior officers can weigh on sentiment even though insiders still hold large positions. CTO Form 4
• Negative Sentiment: Additional insider sales reported: multiple filings show the CFO sold roughly $597k and $547k, and the CEO sold roughly $1.41M and $1.32M in separate transactions — cumulative insider selling may temper gains. CFO Sells $597,412 CFO Sells $546,865 CEO Sells $1,411,873 CEO Sells $1,322,281

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CRDO. Wall Street Zen upgraded shares of Credo Technology Group from a “hold” rating to a “buy” rating in a report on Sunday, September 28th. William Blair initiated coverage on shares of Credo Technology Group in a research note on Thursday, September 18th. They set an “outperform” rating for the company. Stifel Nicolaus set a $160.00 target price on shares of Credo Technology Group in a report on Wednesday, October 1st. Needham & Company LLC raised their target price on Credo Technology Group from $190.00 to $220.00 and gave the stock a “buy” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Buy” and an average price target of $217.08.

Credo Technology Group Price Performance

The stock’s 50 day moving average is $153.79 and its 200-day moving average is $137.61. The company has a market capitalization of $28.19 billion, a P/E ratio of 136.90 and a beta of 2.66.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. The firm had revenue of $268.03 million for the quarter, compared to the consensus estimate of $234.99 million. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The business’s revenue for the quarter was up 272.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 EPS. On average, equities research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $156.32, for a total value of $8,597,600.00. Following the completion of the transaction, the chief technology officer directly owned 6,668,961 shares in the company, valued at $1,042,491,983.52. This trade represents a 0.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $171.23, for a total transaction of $8,561,500.00. Following the transaction, the chief executive officer directly owned 1,942,502 shares of the company’s stock, valued at approximately $332,614,617.46. This trade represents a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,088,276 shares of company stock worth $167,068,167. 11.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

Several large investors have recently made changes to their positions in CRDO. Savant Capital LLC increased its position in Credo Technology Group by 0.7% during the 3rd quarter. Savant Capital LLC now owns 9,914 shares of the company’s stock valued at $1,444,000 after buying an additional 68 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Credo Technology Group by 16.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company’s stock worth $80,000 after purchasing an additional 77 shares during the last quarter. Illinois Municipal Retirement Fund boosted its stake in Credo Technology Group by 0.6% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company’s stock worth $2,298,000 after purchasing an additional 91 shares in the last quarter. Versant Capital Management Inc grew its position in Credo Technology Group by 18.0% during the 3rd quarter. Versant Capital Management Inc now owns 663 shares of the company’s stock valued at $97,000 after purchasing an additional 101 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Credo Technology Group by 14.8% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 861 shares of the company’s stock valued at $125,000 after purchasing an additional 111 shares during the last quarter. 80.46% of the stock is currently owned by hedge funds and other institutional investors.

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.