Credo Technology Group (NASDAQ:CRDO) Trading Up 1.4% - What's Next?

Key Points

• Credo Technology Group shares were up 1.4% on Thursday, trading as high as $227.69 after closing at $214.60, with volume slightly above its daily average.
• The company posted record fiscal 2026 results, including revenue that more than tripled year over year and earnings that beat expectations, driven by strong demand in AI data-center connectivity.
• Analysts remain broadly bullish, with multiple firms raising price targets and the consensus rating at Moderate Buy; however, some commentary flagged valuation concerns and potential margin pressure as Credo expands into optics.

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report) were up 1.4% during trading on Thursday . The company traded as high as $227.69 and last traded at $217.50. Approximately 7,415,132 shares changed hands during trading, an increase of 3% from the average daily volume of 7,232,183 shares. The stock had previously closed at $214.60.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Credo reported record fiscal 2026 results, with revenue more than tripling year over year and earnings beating expectations, reinforcing momentum in its AI data-center connectivity business.
• Positive Sentiment: Management said optical revenue could exceed $600 million in fiscal 2027 and guided for more than 80% revenue growth, suggesting a new leg of expansion beyond its core copper/AEC products.
• Positive Sentiment: Several analyst and commentary pieces turned bullish on CRDO, citing continued demand from hyperscalers, a strong gross margin profile, and the company’s growing role in AI networking infrastructure. Article Title
• Neutral Sentiment: Some reports noted that growth is normalizing from the recent surge and that expanding into optics may pressure margins over time because optics is expected to be a lower-margin business.
• Neutral Sentiment: Commentary also raised valuation questions after CRDO’s sharp multi-month run, with some investors wondering whether the stock already reflects much of the near-term optimism.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CRDO shares. Zacks Research raised shares of Credo Technology Group from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, May 19th. Rothschild & Co Redburn started coverage on shares of Credo Technology Group in a research report on Friday, May 1st. They set a "buy" rating and a $206.00 price target for the company. The Goldman Sachs Group reiterated a "buy" rating and set a $250.00 price target on shares of Credo Technology Group in a research report on Tuesday. TD Cowen lifted their price target on shares of Credo Technology Group from $240.00 to $260.00 and gave the company a "buy" rating in a research report on Tuesday. Finally, Mizuho lifted their price target on shares of Credo Technology Group from $260.00 to $290.00 and gave the company an "outperform" rating in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $248.41.

Credo Technology Group Stock Up 1.4%

The firm has a market capitalization of $40.12 billion, a price-to-earnings ratio of 87.70 and a beta of 3.22. The business's 50-day simple moving average is $165.25 and its two-hundred day simple moving average is $146.27.

Credo Technology Group (NASDAQ:CRDO - Get Free Report) last announced its quarterly earnings data on Monday, June 1st. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.02 by $0.14. The firm had revenue of $437.00 million during the quarter, compared to analysts' expectations of $431.80 million. Credo Technology Group had a net margin of 35.37% and a return on equity of 36.99%. The business's quarterly revenue was up 157.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.20 earnings per share. Sell-side analysts anticipate that Credo Technology Group Holding Ltd. will post 3.78 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.68, for a total value of $5,884,000.00. Following the completion of the transaction, the chief executive officer owned 1,782,502 shares in the company, valued at approximately $209,764,835.36. The trade was a 2.73% 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 27,500 shares of Credo Technology Group stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $117.60, for a total transaction of $3,234,000.00. Following the completion of the transaction, the chief technology officer owned 6,272,370 shares of the company's stock, valued at $737,630,712. This trade represents a 0.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 386,608 shares of company stock valued at $50,371,351 in the last 90 days. Company insiders own 11.84% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CRDO. Savant Capital LLC lifted its stake in Credo Technology Group by 0.7% in the third quarter. Savant Capital LLC now owns 9,914 shares of the company's stock worth $1,444,000 after acquiring an additional 68 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Credo Technology Group by 16.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 552 shares of the company's stock worth $80,000 after acquiring an additional 77 shares during the last quarter. Illinois Municipal Retirement Fund lifted its stake in Credo Technology Group by 0.6% in the third quarter. Illinois Municipal Retirement Fund now owns 15,783 shares of the company's stock worth $2,298,000 after acquiring an additional 91 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Credo Technology Group by 1.7% in the first quarter. QRG Capital Management Inc. now owns 5,402 shares of the company's stock worth $507,000 after acquiring an additional 91 shares during the last quarter. Finally, Bank of Nova Scotia lifted its stake in Credo Technology Group by 1.6% in the first quarter. Bank of Nova Scotia now owns 6,026 shares of the company's stock worth $566,000 after acquiring an additional 92 shares during the last quarter. 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.

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