Credo Technology Group (NASDAQ:CRDO) Stock Price Up 3.4% – Here’s Why
by Danessa Lincoln · The Markets DailyCredo Technology Group Holding Ltd. (NASDAQ:CRDO – Get Free Report)’s share price rose 3.4% on Tuesday . The company traded as high as $164.74 and last traded at $161.38. Approximately 4,592,939 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 6,758,632 shares. The stock had previously closed at $156.07.
Key Stories Impacting Credo Technology Group
Here are the key news stories impacting Credo Technology Group this week:
- Positive Sentiment: Retail/financial press is highlighting CRDO as a momentum pick, which can attract short‑term buying and retail flows — increased coverage often amplifies post‑earnings rallies. Read More.
- Positive Sentiment: Zacks published a bullish momentum write‑up reinforcing the market narrative that Credo remains a top momentum candidate after its strong quarter. Read More.
- Positive Sentiment: Recent analyst actions and the company’s December quarter beat (revenue and EPS well above expectations) underpin upgrades and higher price targets, supporting the bullish case. Read More.
- Neutral Sentiment: Commentary from a market strategist flagged heightened volatility risk tied to a potential Supreme Court ruling on tariffs — supportive of tech generally but signals higher event risk for CRDO. Read More.
- Neutral Sentiment: Reported short‑interest shows effectively zero short exposure with anomalous “NaN” change — likely a reporting glitch; it neither meaningfully elevates squeeze risk nor provides clear bearish pressure. (No direct link available.)
- Negative Sentiment: Significant insider selling: CTO Chi Fung Cheng sold 30,000 shares (~$4.2M) on Jan 8 (SEC Form 4 filed). Repeated large insider sales may weigh on sentiment despite insiders retaining large stakes. Read More.
- Negative Sentiment: Additional insider sales reported for the CEO and CFO (multiple transactions totaling several million dollars) — cumulative executive selling could temper momentum buyers. Read More. Read More.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on CRDO. Zacks Research raised shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 4th. Barclays lifted their target price on Credo Technology Group from $165.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Bank of America upped their price target on Credo Technology Group from $165.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. KGI Securities upgraded Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price objective for the company in a research report on Tuesday, December 2nd. Finally, Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $217.08.
Get Our Latest Stock Analysis on Credo Technology Group
Credo Technology Group Stock Up 3.4%
The stock has a market cap of $29.15 billion, a price-to-earnings ratio of 141.56 and a beta of 2.66. The company’s 50-day moving average is $153.79 and its 200-day moving average is $137.61.
Credo Technology Group (NASDAQ:CRDO – Get Free Report) last released its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.18. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The company had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 272.1% compared to the same quarter last year. On average, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.
Insiders Place Their Bets
In other news, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were sold at an average price of $171.23, for a total value of $8,561,500.00. Following the sale, the chief executive officer owned 1,942,502 shares of the company’s stock, valued at approximately $332,614,617.46. This represents a 2.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $156.32, for a total transaction of $8,597,600.00. Following the sale, the chief technology officer owned 6,668,961 shares of the company’s stock, valued at $1,042,491,983.52. This trade represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,088,276 shares of company stock worth $167,068,167 over the last three months. 11.84% of the stock is currently owned by corporate insiders.
Institutional Trading of Credo Technology Group
Several hedge funds have recently modified their holdings of CRDO. Syquant Capital Sas bought a new position in shares of Credo Technology Group in the fourth quarter valued at approximately $49,210,000. Avanza Fonder AB bought a new position in Credo Technology Group in the 4th quarter valued at $669,000. SG Americas Securities LLC boosted its stake in Credo Technology Group by 960.8% in the fourth quarter. SG Americas Securities LLC now owns 252,855 shares of the company’s stock worth $36,383,000 after purchasing an additional 229,018 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Credo Technology Group during the fourth quarter worth $564,000. Finally, Diversified Trust Co. increased its stake in shares of Credo Technology Group by 1.7% in the fourth quarter. Diversified Trust Co. now owns 18,151 shares of the company’s stock valued at $2,612,000 after buying an additional 295 shares in 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.