Credo Technology Group (NASDAQ:CRDO) Stock Price Up 2.7% – Should You Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) shares shot up 2.7% on Thursday . The stock traded as high as $279.20 and last traded at $265.65. Approximately 6,865,187 shares changed hands during trading, a decline of 12% from the average daily volume of 7,832,840 shares. The stock had previously closed at $258.69.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo continues to benefit from strong AI infrastructure spending, with its connectivity products gaining traction inside training clusters at five of the six major hyperscalers. Price Prediction: Will Credo Hit $500 by 2030?
• Positive Sentiment: Fiscal 2026 revenue more than tripled to $1.335 billion, reinforcing the view that Credo is executing well in a fast-growing market. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Positive Sentiment: Analyst and investor interest remains upbeat, with articles debating whether CRDO can keep climbing as AI spending expands. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Neutral Sentiment: One recent item highlighted broader semiconductor volatility, including mixed moves in chip stocks amid market-wide risk-off trading. Chip Stocks Join in Broad Selloff
• Negative Sentiment: Some coverage points to key customer risk and a stretched valuation after the stock’s large move higher, which could limit upside if growth slows. Credo Technology: A Great Business With Some Hidden Risks

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Evercore began coverage on Credo Technology Group in a research note on Monday, June 22nd. They set an “outperform” rating and a $325.00 price objective for the company. Stifel Nicolaus raised their target price on Credo Technology Group from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. TD Cowen lifted their price target on Credo Technology Group from $240.00 to $260.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. The Goldman Sachs Group reiterated a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research report on Tuesday, June 2nd. Finally, Rothschild & Co Redburn initiated coverage on Credo Technology Group in a research note on Friday, May 1st. They issued a “buy” rating and a $206.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Credo Technology Group currently has a consensus rating of “Buy” and an average price target of $263.11.

Credo Technology Group Stock Performance

The firm has a market capitalization of $49.54 billion, a PE ratio of 107.12, a price-to-earnings-growth ratio of 1.13 and a beta of 3.20. The stock’s 50 day simple moving average is $225.11 and its two-hundred day simple moving average is $163.09.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.14. Credo Technology Group had a return on equity of 32.30% and a net margin of 35.37%.The business had revenue of $437.00 million during the quarter, compared to analyst estimates of $431.80 million. During the same period in the prior year, the business earned $0.20 earnings per share. The business’s revenue was up 157.0% compared to the same quarter last year. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $249.48, for a total value of $9,979,200.00. Following the completion of the sale, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at $125,207,276.04. This trade represents a 7.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Chi Fung Cheng sold 27,500 shares of Credo Technology Group stock in a transaction on Friday, April 10th. The stock was sold at an average price of $118.25, for a total value of $3,251,875.00. Following the transaction, the chief technology officer owned 6,134,870 shares in the company, valued at approximately $725,448,377.50. This represents a 0.45% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 394,662 shares of company stock valued at $84,590,786. Insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. City Center Advisors LLC raised its stake in Credo Technology Group by 2.1% during the second quarter. City Center Advisors LLC now owns 2,595 shares of the company’s stock worth $706,000 after purchasing an additional 53 shares during the period. Versant Capital Management Inc grew its stake in shares of Credo Technology Group by 8.0% in the 2nd quarter. Versant Capital Management Inc now owns 755 shares of the company’s stock valued at $205,000 after buying an additional 56 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake 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 valued at $80,000 after buying an additional 77 shares during the period. QRG Capital Management Inc. increased its holdings in shares of Credo Technology Group by 1.7% during the 1st quarter. QRG Capital Management Inc. now owns 5,402 shares of the company’s stock worth $507,000 after buying an additional 91 shares during the last quarter. Finally, Bank of Nova Scotia increased its holdings in shares of Credo Technology Group by 1.6% during the 1st quarter. Bank of Nova Scotia now owns 6,026 shares of the company’s stock worth $566,000 after buying an additional 92 shares during the last quarter. 80.46% of the stock is currently owned by institutional investors and hedge funds.

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.