Credo Technology Group (NASDAQ:CRDO) Shares Up 11.9% – Here’s What Happened

Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded up 11.9% during mid-day trading on Thursday . The company traded as high as $116.29 and last traded at $114.74. 11,607,680 shares changed hands during mid-day trading, an increase of 60% from the average session volume of 7,255,705 shares. The stock had previously closed at $102.54.

Credo Technology Group News Summary

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

• Positive Sentiment: Big Q3 beat — Credo reported a blowout quarter with revenue up ~201% year-over-year, a solid EPS beat and strong margins, giving a fundamental growth story that supports higher valuations. Earnings/Reaction
• Positive Sentiment: M&A and partnerships broaden AI/data-center exposure — the CoMira acquisition and a TensorWave tie-up expand Credo’s connectivity IP and go-to-market for advanced AI racks, strengthening the company’s growth runway. CoMira Deal
• Positive Sentiment: Industry tailwinds and vendor positioning — Broadcom’s public tilt toward copper-based connectivity helped lift Credo, since its products align with that trend. Broadcom Signal
• Positive Sentiment: Analyst support and rising estimates — JPMorgan maintained an Overweight view and several outlets note upward revisions to earnings estimates and sizable average price-target upside, which can underpin medium-term upside. JPMorgan Note
• Neutral Sentiment: Short-interest reporting looks unreliable — recent short-interest posts show zero shares/NaN changes and a 0.0 days-to-cover metric, which likely reflects a data/reporting issue rather than meaningful short activity. (Internal short-interest entries)
• Negative Sentiment: Analyst downgrades and lowered expectations — multiple firms (including Rosenblatt, Susquehanna, Mizuho and others) have trimmed forecasts or expressed caution; those moves triggered a sharp gap down and a prior one-day ~15% sell-off. Downgrade/Share Drop
• Negative Sentiment: Post-earnings volatility and risk callouts — several pieces highlight that while results were strong, valuation sensitivity and execution risks could keep the stock choppy in the near term. Volatility Discussion

Wall Street Analysts Forecast Growth

Several research firms have commented on CRDO. Bank of America raised their price objective on Credo Technology Group from $165.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, December 2nd. Zacks Research upgraded Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research report on Monday, December 29th. Wolfe Research set a $240.00 price target on Credo Technology Group in a research note on Tuesday, December 2nd. Finally, Needham & Company LLC restated a “buy” rating and issued a $220.00 price objective on shares of Credo Technology Group in a report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $206.33.

Credo Technology Group Stock Down 4.3%

The company has a market cap of $20.26 billion, a P/E ratio of 61.02 and a beta of 2.67. The business’s 50 day moving average is $129.70 and its 200 day moving average is $142.89.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) 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 analysts’ expectations of $385.94 million. During the same quarter last year, the firm earned $0.25 EPS. The business’s revenue for the quarter was up 201.5% on a year-over-year basis. As a group, equities research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction dated Friday, January 30th. The stock was sold at an average price of $128.67, for a total value of $241,256.25. Following the transaction, the director owned 5,892,034 shares in the company, valued at $758,128,014.78. The trade was a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Joseph Brennan sold 18,016 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $127.69, for a total transaction of $2,300,463.04. Following the completion of the transaction, the chief executive officer owned 252,625 shares of the company’s stock, valued at $32,257,686.25. This represents a 6.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 916,101 shares of company stock valued at $136,220,453 over the last 90 days. Company insiders own 11.84% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group in the third quarter valued at approximately $25,000. Crewe Advisors LLC grew its holdings in Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after purchasing an additional 106 shares during the last quarter. Reflection Asset Management acquired a new position in shares of Credo Technology Group during the fourth quarter worth $25,000. Acumen Wealth Advisors LLC acquired a new position in shares of Credo Technology Group during the fourth quarter worth $25,000. Finally, First Horizon Corp purchased a new stake in shares of Credo Technology Group during the 3rd quarter valued at $26,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

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.