Credo Technology Group (NASDAQ:CRDO) Shares Gap Up – Still a Buy?

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $102.54, but opened at $109.08. Credo Technology Group shares last traded at $113.7480, with a volume of 4,538,001 shares traded.

Credo Technology Group News Roundup

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

• Positive Sentiment: Credo acquired CoMira and announced a major collaboration with TensorWave to expand optical and advanced connectivity IP for AI data centers — a tangible inorganic move that strengthens its AI addressable market and product roadmap. Credo Deepens AI Data Center Role With CoMira Deal And TensorWave Tie Up
• Positive Sentiment: Brokerage support: Zacks upgraded CRDO from Hold to Strong-Buy and the average of Wall Street price targets implies substantial upside (~95%), which can attract momentum buyers despite typical caveats about PT averages. Zacks.com Wall Street Analysts See a 95.05% Upside
• Positive Sentiment: Several firms have reiterated buy ratings (Needham, Bank of America, William Blair), reinforcing investor confidence in Credo’s market position and growth prospects. Needham & Company LLC Reaffirms Buy Rating
• Neutral Sentiment: Q3 results were a beat (revenue and EPS ahead of expectations) and management gave above-consensus Q4 guidance, but commentary flagged margin mix and potential deceleration in AEC growth — this explains simultaneous strong fundamentals and market caution. Credo Earnings: Is AI Broken?
• Neutral Sentiment: Multiple analyst write-ups and opinion pieces (buy-the-pullback / bargain arguments) are circulating; they provide varied entry viewpoints but primarily increase trading interest and volatility rather than change fundamentals immediately. Beat, Raise, Drop 10% – AI Trade Hangover
• Negative Sentiment: Some brokerages (Rosenblatt, Susquehanna, Mizuho) have lowered expectations or issued downgrades, which sparked an earlier sharp pullback and keeps downside risk if growth/margin trends disappoint. Rosenblatt Lowers Expectations Susquehanna Lowers Expectations Shares Gap Down After Analyst Downgrade

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Rosenblatt Securities dropped their price objective on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating for the company in a report on Tuesday. Craig Hallum reissued a “buy” rating and set a $200.00 price target on shares of Credo Technology Group in a research report on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a report on Monday, December 29th. Mizuho reduced their price objective on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Wolfe Research set a $240.00 target price on Credo Technology Group in a report on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $206.33.

Credo Technology Group Trading Up 10.5%

The stock has a market capitalization of $20.47 billion, a price-to-earnings ratio of 63.31 and a beta of 2.67. The firm has a 50-day moving average of $131.11 and a 200 day moving average of $143.15.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.29. The company had revenue of $407.01 million for the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 37.17%. The business’s quarterly revenue was up 201.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, research analysts forecast that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current year.

Insiders Place Their Bets

In other news, COO Yat Tung Lam sold 370,000 shares of the firm’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $153.19, for a total transaction of $56,680,300.00. Following the completion of the sale, the chief operating officer directly owned 400,000 shares in the company, valued at $61,276,000. This trade represents a 48.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction on Monday, December 8th. The stock was sold at an average price of $174.70, for a total transaction of $9,608,500.00. Following the completion of the sale, the chief technology officer owned 6,613,961 shares of the company’s stock, valued at approximately $1,155,458,986.70. This trade represents a 0.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 917,976 shares of company stock worth $136,567,647 in the last quarter. 11.84% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

A number of large investors have recently bought and sold shares of CRDO. Reflection Asset Management acquired a new stake in shares of Credo Technology Group during the 4th quarter worth approximately $25,000. Clearwave Capital LLC acquired a new stake in Credo Technology Group in the fourth quarter worth $708,000. BDFS Capital LLC acquired a new stake in Credo Technology Group in the fourth quarter worth $775,000. Sit Investment Associates Inc. bought a new stake in Credo Technology Group in the fourth quarter valued at $1,163,000. Finally, Mariner Investment Group LLC acquired a new position in shares of Credo Technology Group during the fourth quarter valued at $288,000. Institutional investors own 80.46% of the company’s stock.

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.