Credo Technology Group (NASDAQ:CRDO) Trading Up 5.4% – Time to Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) rose 5.4% during mid-day trading on Wednesday . The stock traded as high as $107.43 and last traded at $102.54. Approximately 8,802,913 shares changed hands during mid-day trading, an increase of 22% from the average daily volume of 7,187,739 shares. The stock had previously closed at $97.30.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo beat estimates and raised near‑term guidance: Q3 revenue $407.0M (up 201.5% YoY) and EPS $1.07, topping Street expectations; company guided Q4 revenue above consensus, supporting the growth story. Credo Q3 2026 Financial Results (BusinessWire)
• Positive Sentiment: Wall Street still has bulls: several firms (William Blair, Bank of America, Needham) reiterated Buy ratings or reaffirmed convictions after the print, which helped stabilize buying interest today. Wall Street Bullish on Credo (Yahoo)
• Positive Sentiment: Strategic product & partner momentum: management highlighted an accelerating ZeroFlap optics ramp, the TensorWave collaboration for AI clusters, and the CoMira IP deal — moves that expand addressable market in AI/data‑center interconnects. Credo & TensorWave Team Up (Zacks)
• Neutral Sentiment: Management reiterated a multi‑quarter growth target (CEO projecting ~50% pace for the full year) and provided an earnings‑call transcript for investors to parse execution details. Credo CEO Projects 50% Growth (247WallSt)
• Neutral Sentiment: Several market writeups argue the post‑earnings pullback creates a buying opportunity for long‑term investors who believe in the AI connectivity thesis. Credo Pullback May Be The Opportunity (Seeking Alpha)
• Negative Sentiment: Stock sold off sharply after the print as some investors focused on deceleration risks and conservatively lower gross‑margin guidance for Q4, triggering a short‑term “AI trade hangover.” That volatility contributed to heavy intraday swings. Beat, Raise, Drop 10% (Seeking Alpha)
• Negative Sentiment: Analysts trimmed price targets and forecasts after the quarter (multiple firms cut targets or adjusted estimates), which likely pressured sentiment despite the beat. Analysts Slash Forecasts (Benzinga)
• Negative Sentiment: Key risks remain: concentrated customer exposure (high percentage of revenue from a few hyperscalers) and margin sensitivity to product mix—factors driving investor caution and amplifying moves on macro/sector risk events. Credo Earnings: Is AI Broken? (Seeking Alpha)

Wall Street Analysts Forecast Growth

CRDO has been the subject of a number of recent analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Monday, December 29th. Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a research report on Tuesday. Susquehanna decreased their target price on Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research report on Tuesday. New Street Research set a $240.00 price target on shares of Credo Technology Group in a research note on Tuesday, December 2nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of Credo Technology Group in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

Credo Technology Group Stock Performance

The stock has a 50-day moving average of $132.06 and a two-hundred day moving average of $143.44. The company has a market cap of $18.52 billion, a P/E ratio of 56.97 and a beta of 2.67.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. Credo Technology Group had a net margin of 31.81% and a return on equity of 37.17%. The business had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. During the same period in the previous year, the business earned $0.25 EPS. The company’s quarterly revenue was up 201.5% compared to the same quarter last year. Research analysts predict that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, COO Yat Tung Lam sold 370,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total transaction of $56,680,300.00. Following the transaction, the chief operating officer directly owned 400,000 shares of the company’s stock, valued at approximately $61,276,000. This represents a 48.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $174.70, for a total value of $9,608,500.00. Following the completion of the transaction, the chief technology officer directly owned 6,613,961 shares of the company’s stock, valued at $1,155,458,986.70. The trade was a 0.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 917,976 shares of company stock valued at $136,567,647 over the last 90 days. Corporate insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp acquired a new stake in shares of Credo Technology Group during the 3rd quarter valued at approximately $25,000. Crewe Advisors LLC increased its stake in Credo Technology Group by 163.1% during the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after buying an additional 106 shares during the period. Reflection Asset Management bought a new stake in shares of Credo Technology Group in the fourth quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new stake in shares of Credo Technology Group during the 4th quarter valued at approximately $25,000. Finally, First Horizon Corp acquired a new stake in shares of Credo Technology Group during the 3rd quarter worth approximately $26,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

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.