Credo Technology Group (NASDAQ:CRDO) Trading 11.3% Higher Following Analyst Upgrade

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) traded up 11.3% on Monday after Stifel Nicolaus raised their price target on the stock from $250.00 to $350.00. Stifel Nicolaus currently has a buy rating on the stock. Credo Technology Group traded as high as $308.67 and last traded at $302.52. 9,494,330 shares traded hands during trading, an increase of 26% from the average session volume of 7,562,821 shares. The stock had previously closed at $271.83.

A number of other research firms have also commented on CRDO. Needham & Company LLC raised their price target on Credo Technology Group from $220.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Craig Hallum reiterated a “buy” rating and issued a $200.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Roth Mkm increased their target price on Credo Technology Group from $200.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, June 2nd. Jefferies Financial Group raised their target price on shares of Credo Technology Group from $225.00 to $270.00 and gave the stock a “buy” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings raised shares of Credo Technology Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Credo Technology Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $258.22.

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 54,984 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $218.57, for a total transaction of $12,017,852.88. Following the completion of the transaction, the chief executive officer directly owned 367,327 shares of the company’s stock, valued at $80,286,662.39. This represents a 13.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Fariba Danesh sold 1,100 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $236.34, for a total value of $259,974.00. Following the transaction, the director owned 7,017 shares of the company’s stock, valued at approximately $1,658,397.78. The trade was a 13.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 416,884 shares of company stock valued at $72,809,943. Corporate insiders own 11.84% of the company’s stock.

Credo Technology Group News Summary

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

• Positive Sentiment: Evercore ISI initiated coverage with an Outperform rating and a $325 price target, saying the market is undervaluing Credo’s long-term opportunity in AI networking infrastructure and its move beyond copper-based connections. Evercore Says Wall Street Is 40% Too Low on Credo
• Positive Sentiment: Stifel also raised its price target on CRDO from $250 to $350 and kept a Buy rating, adding to the bullish analyst momentum around the stock. Benzinga / The Fly report
• Positive Sentiment: Investors are continuing to focus on Credo’s role in AI data-center interconnects, including active electrical cables and growing optical opportunities, which multiple reports say could support sizable upside if demand remains strong. Credo Wires Agentic AI With $10 Billion-Plus Market In Sight
• Neutral Sentiment: Recent articles also pointed to strong post-earnings fundamentals, including revenue growth, profitability, and management’s upbeat guidance, which help support the bullish narrative already driving the shares. Credo Technology rises as investors lean into AI interconnect growth story

Institutional Trading of Credo Technology Group

Hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC grew its position in shares of Credo Technology Group by 239,024.5% in the 4th quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock valued at $517,835,000 after acquiring an additional 3,597,318 shares during the period. Amundi lifted its stake in Credo Technology Group by 28,478.2% in the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock valued at $224,439,000 after purchasing an additional 1,554,338 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Credo Technology Group by 841.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock valued at $228,979,000 after purchasing an additional 1,422,391 shares during the last quarter. Bank of America Corp DE grew its holdings in Credo Technology Group by 161.5% during the third quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after purchasing an additional 1,406,752 shares during the period. Finally, Rafferty Asset Management LLC bought a new position in Credo Technology Group during the third quarter worth about $183,553,000. 80.46% of the stock is currently owned by institutional investors and hedge funds.

Credo Technology Group Price Performance

The business has a 50-day simple moving average of $199.85 and a two-hundred day simple moving average of $154.04. The stock has a market cap of $56.41 billion, a price-to-earnings ratio of 121.98, a P/E/G ratio of 1.43 and a beta of 3.22.

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

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.