Credo Technology Group (NASDAQ:CRDO) Hits New 1-Year High – Here’s Why

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price reached a new 52-week high during trading on Friday . The stock traded as high as $216.36 and last traded at $215.3090, with a volume of 5069817 shares. The stock had previously closed at $193.39.

Key Credo Technology Group News

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

• Positive Sentiment: Credo was upgraded by Zacks Research from hold to strong-buy, adding to the bullish tone around the stock. Tickerreport.com: Credo Technology Group was upgraded by Zacks Research from “hold” to “strong-buy”
• Positive Sentiment: Coverage described Credo as a beneficiary of the AI boom, with investors viewing the company as a key connectivity play for AI data centers and factories. Zacks: Bull of the Day: Credo Technology Group (CRDO)
• Positive Sentiment: New commentary highlighted Credo as one of the best semiconductor stocks with high upside potential, and cited prior Buy coverage from Rothschild & Co Redburn. Yahoo Finance: Why Credo Technology Group Holding Ltd (CRDO) is One of the Best Semiconductor Stocks With the Highest Upside Potential Right Now
• Positive Sentiment: Credo’s stock also got a lift from news that it partnered with Rebellions to integrate ZeroFlap cables into RebelPOD, a move aimed at scalable AI factories and enterprise inference. Zacks: AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
• Neutral Sentiment: Fresh analysis comparing CRDO with Coherent (COHR) kept attention on Credo’s strategy around AEC adoption, new product families, and the DustPhotonics deal, but did not introduce a new catalyst by itself. Zacks: CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Neutral Sentiment: Additional commentary framed Credo as an alternative AI stock to Nvidia, which may be helping sentiment, though this was more of a thematic call than a company-specific development. Zacks: Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Negative Sentiment: No material negative company-specific news was reported in the latest articles; the main risk is that the stock’s strong run could leave it vulnerable if AI sentiment cools. Yahoo Finance: Stock Market Today

Analyst Ratings Changes

Several brokerages have commented on CRDO. Rosenblatt Securities raised their price objective on Credo Technology Group from $125.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Mizuho dropped their price objective on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Craig Hallum reissued a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Jefferies Financial Group began coverage on Credo Technology Group in a report on Monday, April 13th. They issued a “buy” rating and a $175.00 price objective on the stock. Finally, Weiss Ratings lowered Credo Technology Group from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, April 24th. Two analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $207.71.

Credo Technology Group Stock Up 11.6%

The firm has a market cap of $39.82 billion, a PE ratio of 119.92 and a beta of 3.17. The firm has a 50-day moving average price of $144.76 and a two-hundred day moving average price of $142.53.

Credo Technology Group (NASDAQ:CRDO) last released its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The business had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter last year, the business posted $0.25 earnings per share. The business’s quarterly revenue was up 201.5% compared to the same quarter last year. Research analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total transaction of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at approximately $209,764,835.36. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Chi Fung Cheng sold 27,500 shares of the firm’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $117.60, for a total value of $3,234,000.00. Following the sale, the chief technology officer directly owned 6,272,370 shares of the company’s stock, valued at approximately $737,630,712. This trade represents a 0.44% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 386,608 shares of company stock worth $50,371,351. 11.84% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Verus Capital Partners LLC purchased a new stake in Credo Technology Group during the 1st quarter valued at approximately $506,000. Western Wealth Management LLC acquired a new position in Credo Technology Group during the 1st quarter worth approximately $38,000. Edgestream Partners L.P. increased its position in Credo Technology Group by 28.4% during the 1st quarter. Edgestream Partners L.P. now owns 22,168 shares of the company’s stock worth $2,081,000 after purchasing an additional 4,904 shares during the period. H&H International Investment LLC increased its position in Credo Technology Group by 431.6% during the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock worth $70,515,000 after purchasing an additional 609,900 shares during the period. Finally, Oaktree Capital Management LP acquired a new position in Credo Technology Group during the 1st quarter worth approximately $50,596,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.