Credo Technology Group (NASDAQ:CRDO) Trading 12.6% Higher – What’s Next?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price rose 12.6% on Friday . The company traded as high as $193.50 and last traded at $187.62. Approximately 7,536,083 shares traded hands during trading, an increase of 40% from the average daily volume of 5,387,429 shares. The stock had previously closed at $166.62.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on CRDO shares. Barclays reaffirmed an “overweight” rating and issued a $165.00 target price on shares of Credo Technology Group in a report on Tuesday, October 7th. JPMorgan Chase & Co. started coverage on Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 target price for the company. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. William Blair started coverage on shares of Credo Technology Group in a research report on Thursday, September 18th. They set an “outperform” rating for the company. Finally, Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research note on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $140.36.

Credo Technology Group Price Performance

The stock’s 50-day simple moving average is $147.35 and its two-hundred day simple moving average is $103.90. The firm has a market cap of $32.46 billion, a P/E ratio of 280.03 and a beta of 2.60.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Credo Technology Group had a return on equity of 19.02% and a net margin of 20.85%.The firm had revenue of $223.07 million during the quarter, compared to analysts’ expectations of $190.63 million. During the same period last year, the company earned $0.04 earnings per share. The business’s revenue for the quarter was up 273.6% compared to the same quarter last year. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other news, CFO Daniel W. Fleming sold 112,580 shares of the business’s stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $138.20, for a total transaction of $15,558,556.00. Following the completion of the sale, the chief financial officer directly owned 458,678 shares of the company’s stock, valued at approximately $63,389,299.60. The trade was a 19.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Manpreet Khaira sold 5,000 shares of the company’s stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $149.67, for a total transaction of $748,350.00. Following the completion of the transaction, the director owned 58,574 shares in the company, valued at approximately $8,766,770.58. The trade was a 7.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 903,270 shares of company stock valued at $137,010,168. 11.84% of the stock is owned by company insiders.

Institutional Trading of Credo Technology Group

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its position in Credo Technology Group by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 16,375,368 shares of the company’s stock valued at $1,516,195,000 after purchasing an additional 430,445 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Credo Technology Group by 36.5% in the second quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after acquiring an additional 1,739,844 shares during the period. Geode Capital Management LLC grew its holdings in Credo Technology Group by 4.7% during the 2nd quarter. Geode Capital Management LLC now owns 3,607,922 shares of the company’s stock worth $334,740,000 after acquiring an additional 163,305 shares in the last quarter. Swedbank AB increased its position in Credo Technology Group by 29.5% during the 1st quarter. Swedbank AB now owns 3,219,125 shares of the company’s stock valued at $129,280,000 after purchasing an additional 733,811 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Credo Technology Group by 66.0% in the 2nd quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock worth $283,778,000 after purchasing an additional 1,218,504 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.