Credo Technology Group (NASDAQ:CRDO) Shares Up 3.4% - Still a Buy?

Key Points

• Shares traded higher, rising 3.4% to about $189 midday, with momentum driven by a strategic pivot (including the DustPhotonics acquisition), analyst target upgrades (e.g., BofA and Barclays) and increased investor interest in AI/infrastructure suppliers.
• Credo reported a strong quarter—$1.07 EPS vs $0.78 estimate and revenue of $407M (up 201.5% YoY)—but investors should weigh that against a rich valuation (market cap ~$34.95B, P/E ~105) and recent insider selling, which raise the risk of a pullback.

Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report)'s stock price rose 3.4% during mid-day trading on Wednesday . The company traded as high as $191.84 and last traded at $189.49. Approximately 7,309,151 shares traded hands during mid-day trading, a decline of 0% from the average daily volume of 7,323,410 shares. The stock had previously closed at $183.32.

Credo Technology Group News Roundup

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

• Positive Sentiment: Strategic M&A/optics pivot — coverage highlights Credo’s DustPhotonics acquisition and management revenue targets that reposition the company as a vertically integrated optical interconnect platform, supporting upside expectations. Credo's Optical Pivot Is Changing The Entire NarrativeRead article
• Positive Sentiment: Analyst support — Bank of America and other sell‑side notes raised targets/ratings recently (e.g., BofA to $210), reinforcing buy-side conviction behind the rally. Credo Technology Group (CRDO): A $210 Target Signals Something Bigger Is BuildingRead article
• Positive Sentiment: Momentum/order‑flow signal — traders flagged a Power Inflow alert (order‑flow indicator) that often precedes continued buying and likely contributed to near‑term price strength. Credo Technology Shares Climb 6% After Key Trading SignalRead article
• Positive Sentiment: Increased AI/infra exposure — CRDO is being highlighted in AI infrastructure roundups and momentum pieces (Zacks, MarketBeat), reflecting investor interest in firms supplying hyperscaler buildouts. Credo Is Up 34.37% in One WeekRead article
• Neutral Sentiment: Event visibility — Credo will showcase connectivity solutions at TSMC's 2026 Technology Symposiums, which helps sales/partner outreach but is not an immediate financial catalyst. Credo to Highlight Next-Generation Connectivity Solutions at TSMC 2026 Technology SymposiumRead article
• Neutral Sentiment: Insider selling disclosed — the CTO sold 27,500 shares under a pre‑arranged 10b5‑1 plan; disclosure can worry some traders but the sales are routine and small relative to insider holdings. SEC Form 4 — Insider SaleRead filing
• Negative Sentiment: Valuation/risk of pullback — several articles warn the stock’s rapid run and high multiples could invite profit‑taking or a correction if growth expectations slip. That remains the main downside risk after this run. Assessing Whether Credo Technology Group Is OvervaluedRead article

Analyst Ratings Changes

CRDO has been the topic of a number of research analyst reports. The Goldman Sachs Group raised their price target on Credo Technology Group from $150.00 to $170.00 and gave the stock a "buy" rating in a research note on Thursday, April 16th. Susquehanna decreased their price target on Credo Technology Group from $230.00 to $170.00 and set a "positive" rating on the stock in a research note on Tuesday, March 3rd. Roth Mkm decreased their price target on Credo Technology Group from $250.00 to $200.00 and set a "buy" rating on the stock in a research note on Tuesday, February 10th. Zacks Research lowered Credo Technology Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, April 13th. Finally, Barclays reissued an "overweight" rating and issued a $260.00 price target on shares of Credo Technology Group in a research note on Thursday, January 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $207.81.

Credo Technology Group Trading Up 3.4%

The firm has a market capitalization of $34.95 billion, a price-to-earnings ratio of 105.27 and a beta of 2.72. The firm has a 50 day moving average price of $118.18 and a two-hundred day moving average price of $137.64.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The company's revenue was up 201.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.25 EPS. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 2.36 earnings per share for the current year.

Insider Activity

In other news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer directly owned 1,782,502 shares of the company's stock, valued at $209,764,835.36. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 30,000 shares of Credo Technology Group stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $136.33, for a total value of $4,089,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,327,370 shares in the company, valued at $862,610,352.10. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 431,499 shares of company stock worth $51,865,795 over the last ninety days. Corporate insiders own 11.84% of the company's stock.

Hedge Funds Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. Atlantic Union Bankshares Corp purchased a new stake in Credo Technology Group during the 3rd quarter worth approximately $25,000. Crewe Advisors LLC increased its holdings 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 purchasing an additional 106 shares during the last quarter. Reflection Asset Management purchased a new stake in Credo Technology Group during the 4th quarter worth approximately $25,000. Acumen Wealth Advisors LLC purchased a new stake in Credo Technology Group during the 4th quarter worth approximately $25,000. Finally, First Horizon Corp purchased a new stake in Credo Technology Group during the 3rd quarter worth approximately $26,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.

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