Credo Technology Group (NASDAQ:CRDO) Stock Price Down 7.2% – Here’s What Happened

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price dropped 7.2% during trading on Tuesday . The company traded as low as $235.59 and last traded at $246.40. Approximately 7,728,916 shares traded hands during trading, a decline of 2% from the average session volume of 7,856,445 shares. The stock had previously closed at $265.55.

More Credo Technology Group News

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

• Positive Sentiment: CRDO was added to Zacks’ Rank #1 “Strong Buy” growth stocks list, which can reinforce investor confidence in the company’s earnings momentum and growth outlook. Best Growth Stocks to Buy for July 7th
• Positive Sentiment: MarketBeat highlighted Credo as a quiet AI revenue accelerator, citing strong AI-driven sales growth and a favorable analyst Buy rating, which supports the stock’s premium valuation. 3 Quiet AI Revenue Accelerators With Sales Growth Outpacing Peers (CRDO)
• Positive Sentiment: Commentary noted Credo “scores a major win” from Nvidia’s delay, suggesting the timing could create more opportunity for Credo’s networking products in AI data centers. Credo Scores A Major Win From Nvidia’s Delay
• Positive Sentiment: Several articles argued that Credo’s retimer business is hitting an inflection point, with rising demand for 100G and 200G-per-lane solutions tied to AI networking and new design wins. CRDO’s Retimer Business Hits Its Stride: Further Gains Ahead?
• Neutral Sentiment: Additional coverage compared Credo with Marvell and other AI hardware names, keeping CRDO in the spotlight as investors weigh its upside versus larger semiconductor peers. Credo Technology Group vs. Marvell Technology: Which Technology Stock Is a Better Buy in 2026?
• Negative Sentiment: One Seeking Alpha piece argued that Credo’s third quarter “won’t be as kind,” introducing a cautionary view that could temper near-term enthusiasm after the recent run-up. Credo: Q3 Won’t Be As Kind

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CRDO. JPMorgan Chase & Co. lifted their price objective on Credo Technology Group from $230.00 to $250.00 and gave the company an “overweight” rating in a report on Tuesday, June 2nd. Roth Capital upped their target price on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Mizuho lifted their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, June 2nd. Needham & Company LLC increased their price objective on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Finally, Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $263.11.

Credo Technology Group Trading Down 7.2%

The company’s 50 day moving average is $222.52 and its 200 day moving average is $161.46. The company has a market cap of $45.95 billion, a PE ratio of 99.35, a P/E/G ratio of 1.11 and a beta of 3.20.

Credo Technology Group (NASDAQ:CRDO) last issued 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 during the quarter, compared to the consensus estimate of $431.80 million. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The company’s quarterly revenue was up 157.0% on a year-over-year basis. During the same quarter last year, the company earned $0.20 earnings per share. Analysts expect 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 firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $269.84, for a total transaction of $7,420,600.00. Following the transaction, the chief technology officer directly owned 5,909,870 shares of the company’s stock, valued at approximately $1,594,719,320.80. This trade represents a 0.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 shares were 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 approximately $80,286,662.39. This trade represents a 13.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 363,372 shares of company stock worth $76,926,125 in the last three months. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently bought and sold shares of CRDO. Crewe Advisors LLC grew its position in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management purchased a new stake in shares of Credo Technology Group in the 4th quarter valued at approximately $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the fourth quarter worth approximately $25,000. Flagship Harbor Advisors LLC bought a new position in Credo Technology Group during the fourth quarter valued at approximately $32,000. Finally, AlphaCentric Advisors LLC bought a new stake in Credo Technology Group during the first quarter worth approximately $33,000. 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.