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

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price was down 7.2% during trading on Tuesday . The stock 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.

Key Headlines Impacting Credo Technology Group

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

• Positive Sentiment: Credo was named one of July’s top growth stock picks, reinforcing bullish sentiment around its earnings momentum and AI-related demand. Best Growth Stocks to Buy for July 7th
• Positive Sentiment: Analysts and market commentary continue to spotlight Credo’s rapid expansion, including fiscal 2026 revenue more than tripling to $1.335 billion and adoption across major hyperscalers, which supports the stock’s upward trend. Price Prediction: Will Credo Hit $500 by 2030?
• Positive Sentiment: Additional coverage argues that Credo’s AI infrastructure exposure, improving margins, and product mix make the stock still attractive after a huge run, suggesting investors are rewarding the company’s fundamentals rather than just momentum. Credo Climbs 165% in a Year: Is the Stock Still Worth Buying?
• Neutral Sentiment: One recent article on Credo’s hidden risks reminds investors that the company still faces customer concentration and valuation risk, which could limit further upside if growth slows. Credo Technology: A Great Business With Some Hidden Risks

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CRDO shares. TD Cowen raised 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. Needham & Company LLC upped their price target on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Rosenblatt Securities boosted their target price on Credo Technology Group from $175.00 to $215.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. JPMorgan Chase & Co. upped their price objective on shares of Credo Technology Group from $230.00 to $250.00 and gave the stock an “overweight” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Two investment 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 company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $263.11.

Credo Technology Group Trading Up 3.2%

The firm’s fifty day moving average is $225.11 and its 200-day moving average is $163.09. The stock has a market capitalization of $49.76 billion, a P/E ratio of 107.60, a P/E/G ratio of 1.13 and a beta of 3.20.

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

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CFO Daniel W. Fleming sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $249.48, for a total value of $9,979,200.00. Following the transaction, the chief financial officer directly owned 501,873 shares of the company’s stock, valued at approximately $125,207,276.04. This trade represents a 7.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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, Director Sylvia Acevedo sold 2,208 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $211.00, for a total transaction of $465,888.00. Following the sale, the director owned 16,337 shares of the company’s stock, valued at $3,447,107. The trade was a 11.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 363,372 shares of company stock valued at $76,926,125 over the last 90 days. Company insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CRDO. Adamsbrown Wealth Consultants LLC bought a new stake in shares of Credo Technology Group in the second quarter worth $277,000. Hennion & Walsh Asset Management Inc. raised its stake in Credo Technology Group by 47.2% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 9,396 shares of the company’s stock valued at $2,555,000 after buying an additional 3,012 shares during the period. Valeo Financial Advisors LLC acquired a new stake in shares of Credo Technology Group in the second quarter valued at approximately $802,000. MRA Advisory Group bought a new stake in Credo Technology Group in the 2nd quarter valued at $1,470,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in Credo Technology Group during the second quarter worth $264,000. 80.46% of the stock is 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.