Credo Technology Group (NASDAQ:CRDO) Trading Up 11.4% – What’s Next?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price shot up 11.4% on Thursday . The stock traded as high as $268.18 and last traded at $264.76. 12,926,301 shares changed hands during trading, an increase of 72% from the average session volume of 7,512,586 shares. The stock had previously closed at $237.68.

Credo Technology Group News Roundup

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

• Positive Sentiment: Analysts have turned more constructive after Credo’s earnings beat, with Mizuho and Bank of America raising price targets and maintaining bullish ratings, reinforcing expectations for continued upside. Mizuho Raises PT on Credo Technology (CRDO) After FQ4 2026 Earnings
• Positive Sentiment: Credo’s acquisition of Dust Photonics expands its reach into silicon photonics and optical connectivity, a move tied to rising AI and cloud networking demand. Credo Technology Group Eyes AI Growth With Dust Photonics Silicon Push
• Positive Sentiment: Recent coverage highlighted that CRDO has strong earnings estimate revisions and could keep climbing as investors price in sustained growth. Can Credo Technology Group (CRDO) Run Higher on Rising Earnings Estimates?
• Positive Sentiment: Bullish articles continue to frame Credo as an attractive AI infrastructure stock, citing its rapid revenue growth and improving forward valuation. Is Credo Technology Group Holding Ltd (CRDO) A Good Stock To Buy Now?
• Neutral Sentiment: One recurring concern is customer concentration risk, though commentary suggests diversification into neo clouds and broader customers could gradually reduce that risk. Credo’s Diversification Push: Can It Cut Customer Concentration Risk?
• Neutral Sentiment: Insider selling by the CEO and a director may modestly weigh on sentiment, but the transactions were disclosed as routine and do not appear to change the company’s operating outlook.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Roth Mkm lifted their price objective on shares of Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Susquehanna raised their target price on shares of Credo Technology Group from $200.00 to $235.00 and gave the stock a “positive” rating in a report on Tuesday, June 2nd. The Goldman Sachs Group reaffirmed a “buy” rating and set a $250.00 price target on shares of Credo Technology Group in a research note on Tuesday, June 2nd. Mizuho upped their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, June 2nd. Finally, Rosenblatt Securities increased their price objective on shares of Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.41.

Credo Technology Group Price Performance

The firm has a market capitalization of $48.83 billion, a P/E ratio of 106.76, a P/E/G ratio of 1.23 and a beta of 3.22. The firm has a 50-day moving average price of $177.95 and a two-hundred day moving average price of $149.16.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings results on Monday, June 1st. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.14. The firm had revenue of $437.00 million for the quarter, compared to analysts’ expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business’s revenue for the quarter was up 157.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.20 earnings per share. Sell-side analysts predict that Credo Technology Group Holding Ltd. will post 4.84 earnings per share for the current fiscal year.

Insider Transactions at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $103.19, for a total transaction of $2,837,725.00. Following the transaction, the chief technology officer directly owned 6,162,370 shares of the company’s stock, valued at approximately $635,894,960.30. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Joseph Brennan sold 54,984 shares of Credo Technology Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the sale, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This represents a 13.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 348,284 shares of company stock worth $51,616,969 over the last 90 days. Insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

A number of institutional investors and hedge funds have recently bought and sold shares of CRDO. NewEdge Advisors LLC grew its position in shares of Credo Technology Group by 24.1% during the 1st quarter. NewEdge Advisors LLC now owns 5,883 shares of the company’s stock worth $552,000 after buying an additional 1,141 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of Credo Technology Group by 2.0% in the first quarter. Glenmede Trust Co. NA now owns 5,706 shares of the company’s stock valued at $536,000 after acquiring an additional 114 shares in the last quarter. Segall Bryant & Hamill LLC raised its holdings in shares of Credo Technology Group by 12.7% in the first quarter. Segall Bryant & Hamill LLC now owns 111,621 shares of the company’s stock valued at $10,478,000 after acquiring an additional 12,616 shares in the last quarter. Verus Capital Partners LLC purchased a new stake in Credo Technology Group in the first quarter worth about $506,000. Finally, Western Wealth Management LLC purchased a new stake in Credo Technology Group in the first quarter worth about $38,000. 80.46% of the stock is owned by 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.