Credo Technology Group (NASDAQ:CRDO) Hits New 1-Year High – Should You Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price reached a new 52-week high during mid-day 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.

More Credo Technology Group News

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

• Positive Sentiment: Credo was highlighted as an AI infrastructure winner alongside Nvidia, Innodata and Qualcomm, keeping investor focus on its exposure to edge computing and data growth. Zacks Investment Ideas feature highlights: Nvidia, Innodata, Credo Technology and Qualcomm
• Positive Sentiment: Zacks framed CRDO as one of the better alternative AI stocks to Nvidia, suggesting more upside as investors look beyond the mega-cap leader. Has Nvidia Become Too Big? 3 Alternative AI Stocks
• Positive Sentiment: Credo jumped after announcing an AI Factory partnership with Rebellions to integrate ZeroFlap cables into RebelPOD, which could strengthen its position in scalable AI data center builds. AI Factory Partnership With Rebellions Sends Credo’s Shares Up 8%
• Positive Sentiment: Several outlets described Credo as a “Bull of the Day” and a top semiconductor stock with high upside potential, adding to the upbeat sentiment around the shares. Bull of the Day: Credo Technology Group (CRDO)
• Neutral Sentiment: One article compared CRDO with Coherent as an AI connectivity stock, but the piece was more of an industry comparison than a fresh catalyst. CRDO vs. COHR: Which AI Connectivity Stock Is the Better Buy?
• Negative Sentiment: Broader market coverage noted Nvidia weakness and mixed trading in AI names, which could have tempered enthusiasm even as Credo outperformed. Stock Market Today: Dow Up, Nvidia Sinks 2% While Intuit Craters; These AI Companies Thrive (Live Coverage)

Wall Street Analysts Forecast Growth

CRDO has been the subject of several analyst reports. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 19th. Rosenblatt Securities lifted their price objective on shares of Credo Technology Group from $125.00 to $175.00 and gave the company a “neutral” rating in a report on Wednesday, April 15th. Stifel Nicolaus set a $200.00 price objective on shares of Credo Technology Group in a report on Tuesday, March 3rd. Needham & Company LLC reiterated a “buy” rating and set a $220.00 price objective on shares of Credo Technology Group in a report on Wednesday, April 15th. Finally, Weiss Ratings lowered shares of 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 assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group presently has an average rating of “Buy” and a consensus target price of $207.71.

Credo Technology Group Trading Up 12.9%

The business’s 50-day moving average price is $146.81 and its 200-day moving average price is $143.06. The stock has a market cap of $40.29 billion, a PE ratio of 121.34 and a beta of 3.17.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, topping 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 29.63%. The firm had revenue of $407.01 million for the quarter, compared to the consensus estimate of $385.94 million. During the same quarter in the previous year, the firm earned $0.25 EPS. The company’s quarterly revenue was up 201.5% compared to the same quarter last year. As a group, analysts predict that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In related news, CEO William Joseph Brennan sold 6,149 shares of the business’s stock in a transaction on Sunday, April 5th. The shares were sold at an average price of $101.45, for a total value of $623,816.05. Following the completion of the transaction, the chief executive officer directly owned 222,311 shares in the company, valued at $22,553,450.95. The trade was a 2.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Daniel W. Fleming sold 7,580 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $152.63, for a total transaction of $1,156,935.40. Following the completion of the transaction, the chief financial officer owned 433,678 shares of the company’s stock, valued at approximately $66,192,273.14. This represents a 1.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 386,608 shares of company stock valued at $50,371,351 over the last quarter. Insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Several large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its stake in shares of Credo Technology Group by 12.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 111,621 shares of the company’s stock valued at $10,478,000 after purchasing an additional 12,616 shares during the period. Verus Capital Partners LLC acquired a new position in shares of Credo Technology Group in the 1st quarter valued at $506,000. Western Wealth Management LLC acquired a new position in shares of Credo Technology Group in the 1st quarter valued at $38,000. Edgestream Partners L.P. lifted its stake in shares of Credo Technology Group by 28.4% in the 1st quarter. Edgestream Partners L.P. now owns 22,168 shares of the company’s stock valued at $2,081,000 after purchasing an additional 4,904 shares during the period. Finally, H&H International Investment LLC lifted its stake in shares of Credo Technology Group by 431.6% in the 1st quarter. H&H International Investment LLC now owns 751,200 shares of the company’s stock valued at $70,515,000 after purchasing an additional 609,900 shares during the period. 80.46% of the stock is currently 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.