Credo Technology Group (NASDAQ:CRDO) Trading Down 14.8% on Analyst Downgrade

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s share price was down 14.8% during trading on Tuesday after Susquehanna lowered their price target on the stock from $230.00 to $170.00. Susquehanna currently has a positive rating on the stock. Credo Technology Group traded as low as $92.60 and last traded at $97.30. Approximately 19,611,604 shares changed hands during trading, an increase of 174% from the average daily volume of 7,145,939 shares. The stock had previously closed at $114.22.

CRDO has been the topic of a number of other reports. Barclays reiterated an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a research note on Thursday, January 15th. The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the stock a “buy” rating in a research report on Thursday, February 19th. New Street Research set a $240.00 target price on Credo Technology Group in a research note on Tuesday, December 2nd. Zacks Research downgraded Credo Technology Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, KGI Securities raised Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 price objective on the stock in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.33.

Insider Activity at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.16, for a total value of $7,658,000.00. Following the sale, the chief executive officer owned 1,892,502 shares of the company’s stock, valued at approximately $289,855,606.32. This represents a 2.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Yat Tung Lam sold 370,000 shares of Credo Technology Group stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total value of $56,680,300.00. Following the transaction, the chief operating officer directly owned 400,000 shares of the company’s stock, valued at $61,276,000. This trade represents a 48.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 917,976 shares of company stock valued at $136,567,647 in the last ninety days. 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: Strong beat: CRDO reported Q3 revenue of $407M (≈+201% YoY) and $1.07 EPS, materially above estimates — evidence of robust demand and execution. Credo quarterly earnings transcript
• Positive Sentiment: Guidance beat: management gave Q4 revenue guidance (~$425M–$435M) above Street consensus and projected >50% revenue growth for FY2027, supporting the multi-quarter growth narrative. BusinessWire: Q3 results press release
• Positive Sentiment: Product & partnerships: Credo is accelerating ZeroFlap optics ramp and expanding partnerships (TensorWave, CoMira), which lengthens the TAM for optical interconnects in AI datacenters. These are constructive for medium-term revenue growth. Zacks: Credo & TensorWave team-up
• Neutral Sentiment: Mixed analyst views: several firms reiterated buys but some lowered price targets — the consensus view still bullish on long-term upside but with nearer-term model adjustments. Benzinga: analysts revise forecasts
• Neutral Sentiment: Short-interest data currently shows no meaningful days-to-cover signal; not a clear driver of today’s volume spike.
• Negative Sentiment: Trade hangover / profit-taking: CRDO was caught in a sector-wide pullback after a recent surge — heavy selling pressure drove a double-digit drop as traders rotated out of high-flyers. 247WallSt: AI stocks diverge
• Negative Sentiment: Deceleration & margin concerns: despite beat and guidance, commentary and Q4 gross-margin guidance were viewed as conservative — analysts and investors fear AEC growth could slow into FY27, prompting re-rating. Seeking Alpha: Is AI Broken?
• Negative Sentiment: Macro risk-off: broader market volatility (geopolitical headlines, futures weakness) amplified selling in tech/AI names, increasing intraday volume and downside pressure on CRDO. Benzinga: futures plunge, market in focus

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atlantic Union Bankshares Corp acquired a new stake in Credo Technology Group during the 3rd quarter valued at $25,000. Crewe Advisors LLC lifted its position in shares of Credo Technology Group by 163.1% in the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after acquiring an additional 106 shares in the last quarter. Reflection Asset Management acquired a new stake in shares of Credo Technology Group during the fourth quarter valued at $25,000. Acumen Wealth Advisors LLC purchased a new stake in Credo Technology Group during the 4th quarter worth about $25,000. Finally, First Horizon Corp acquired a new position in Credo Technology Group in the 3rd quarter valued at about $26,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group Stock Performance

The company has a market capitalization of $17.58 billion, a PE ratio of 54.06 and a beta of 2.67. The stock’s fifty day simple moving average is $132.06 and its 200-day simple moving average is $143.44.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to the consensus estimate of $385.94 million. Credo Technology Group had a net margin of 31.81% and a return on equity of 37.17%. The company’s quarterly revenue was up 201.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.25 earnings per share. On average, equities analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 EPS for the current 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.