Credo Technology Group (NASDAQ:CRDO) Shares Gap Up – Here’s What Happened

Credo Technology Group Holding Ltd. (NASDAQ:CRDO)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $119.59, but opened at $123.66. Credo Technology Group shares last traded at $132.4560, with a volume of 3,421,343 shares changing hands.

Trending Headlines about Credo Technology Group

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

• Positive Sentiment: Announced acquisition of DustPhotonics (~$750M) to add silicon‑photonic optical transceiver technology and expand Credo’s addressable market in AI/data‑center connectivity — the deal is being framed as a strategic move to diversify product mix and accelerate growth. Credo Agrees to Acquire DustPhotonics
• Positive Sentiment: Jefferies initiated coverage with a Buy and $175 target, arguing investors may be underestimating Credo’s long‑term AI opportunity — this fresh institutional endorsement has contributed to the rally. Credo jumps 11% as Jefferies backs copper tech in AI boom debate
• Positive Sentiment: Large options flow — unusually high call‑option buying was reported, indicating speculative and hedged bullish positioning that can amplify intraday moves and reflect investor conviction. Options activity
• Neutral Sentiment: Management/analysts are hosting an M&A call (transcript available) to outline deal rationale, synergies and integration plan — investors will look to these details for guidance on timing and expected financial impact. M&A Call Transcript
• Neutral Sentiment: Broader market tailwinds (Nasdaq strength after inflation data) have supported semiconductor and AI‑related names, helping Credo join a sectorwide advance. Stock Market Today: Nasdaq Leads After Inflation Report
• Negative Sentiment: Insider sale: CTO Chi Fung Cheng sold 27,500 shares under a pre‑arranged Rule 10b5‑1 plan (disclosed to the SEC). The sale is modest relative to his remaining holdings but may be parsed by some investors as a near‑term liquidity event. Insider sale disclosure

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays reiterated an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a report on Thursday, January 15th. Needham & Company LLC restated a “buy” rating and set a $220.00 price objective on shares of Credo Technology Group in a research report on Tuesday, March 3rd. Mizuho lowered their price objective on shares of Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Rosenblatt Securities restated a “neutral” rating and set a $125.00 price objective on shares of Credo Technology Group in a research report on Monday, March 23rd. Finally, Susquehanna lowered their price objective on shares of Credo Technology Group from $230.00 to $170.00 and set a “positive” rating on the stock in a research report on Tuesday, March 3rd. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Credo Technology Group currently has an average rating of “Buy” and an average target price of $204.38.

Credo Technology Group Trading Up 18.6%

The company’s 50 day moving average price is $112.56 and its two-hundred day moving average price is $136.82. The firm has a market cap of $29.40 billion, a PE ratio of 88.54 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping the consensus estimate of $0.78 by $0.29. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The firm had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. During the same period in the prior year, the business posted $0.25 EPS. Credo Technology Group’s revenue was up 201.5% on a year-over-year basis. Equities research analysts expect that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, CEO William Joseph Brennan sold 6,149 shares of the company’s stock in a transaction dated Sunday, April 5th. The stock was sold at an average price of $101.45, for a total value of $623,816.05. Following the completion of the sale, the chief executive officer owned 222,311 shares in the company, valued at $22,553,450.95. This represents a 2.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Daniel W. Fleming sold 2,460 shares of the firm’s stock in a transaction dated Sunday, April 5th. The stock was sold at an average price of $101.45, for a total value of $249,567.00. Following the completion of the transaction, the chief financial officer directly owned 441,258 shares in the company, valued at $44,765,624.10. This trade represents a 0.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 416,419 shares of company stock worth $49,395,410. Corporate insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

Several large investors have recently added to or reduced their stakes in CRDO. Corient Private Wealth LLC boosted its position in shares of Credo Technology Group by 239,024.5% in the fourth quarter. Corient Private Wealth LLC now owns 3,598,823 shares of the company’s stock worth $517,835,000 after purchasing an additional 3,597,318 shares during the period. Amundi lifted its stake in shares of Credo Technology Group by 28,478.2% during the 4th quarter. Amundi now owns 1,559,796 shares of the company’s stock valued at $224,439,000 after buying an additional 1,554,338 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Credo Technology Group by 841.9% in the 4th quarter. Janus Henderson Group PLC now owns 1,591,348 shares of the company’s stock worth $228,979,000 after buying an additional 1,422,391 shares during the period. Bank of America Corp DE boosted its holdings in Credo Technology Group by 161.5% in the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after buying an additional 1,406,752 shares during the period. Finally, Rafferty Asset Management LLC purchased a new stake in Credo Technology Group in the 3rd quarter worth $183,553,000. Hedge funds and other 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.