<div id="readability-page-1"><p>Credo Technology Group Holding Ltd. (NASDAQ:CRDO - Get Free Report)'s stock price was up 3.3% on Thursday . The company traded as high as $142.97 and last traded at $138.57. Approximately 5,341,602 shares were traded  during trading, a decline of 4% from the average daily volume of 5,554,395 shares. The stock had previously closed at $134.13.</p><div><p><span></span><span>Get <strong>Credo Technology Group</strong> alerts:</span></p></div><h2>Wall Street Analyst Weigh In</h2><ul><li>The Chip Boom Is Back: 3 Stocks Positioned for Huge Gains</li></ul><p>Several research analysts have issued reports on the stock. Mizuho lifted their price target on shares of Credo Technology Group from $165.00 to $225.00 and gave the stock an &#34;outperform&#34; rating in a research report on Tuesday, December 2nd. Cowen  restated a &#34;buy&#34; rating on shares of Credo Technology Group in a report on Tuesday, December 2nd. Stifel Nicolaus  set a $160.00 target price on Credo Technology Group in a research report on Wednesday, October 1st. Needham &amp; Company LLC increased their price target on Credo Technology Group from $190.00 to $220.00 and gave the company a &#34;buy&#34; rating in a research report on Tuesday, December 2nd. Finally, Barclays lifted their price target on Credo Technology Group from $165.00 to $220.00 and gave the stock an &#34;overweight&#34; rating in a research note on Tuesday, December 2nd. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned  a Buy rating and one  has assigned  a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of &#34;Buy&#34; and an average price target of $206.85.</p><p><b>View Our Latest Stock Analysis on Credo Technology Group</b></p><h2>Credo Technology Group Stock Performance</h2><ul><li>Credo Technologies Posted a Blowout Quarter—Here's What's Next</li></ul><p>The firm has a 50 day moving average of $156.39 and a 200-day moving average of $128.82. The stock has a market capitalization of $25.03 billion, a PE ratio of 121.55 and a beta of 2.63. </p><p>Credo Technology Group (NASDAQ:CRDO - Get Free Report) last issued its earnings results on Monday, December 1st. The company reported $0.67 earnings per share for the quarter, beating analysts' consensus estimates of $0.49 by $0.18. The company had revenue of $268.03 million for the quarter, compared to the consensus estimate of $234.99 million. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.The firm's quarterly revenue was up 272.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.07 EPS.  On average, sell-side analysts predict that  Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year. </p><h2>Insider Activity at Credo Technology Group</h2><ul><li>3 Under-the-Radar Stocks Set to Benefit From Oracle’s Boom</li></ul><p>In related news, Director Pantas Sutardja sold 1,875 shares of Credo Technology Group stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $189.35, for a total transaction of $355,031.25. Following the completion of the sale, the director owned 5,893,909 shares of the company's stock, valued at approximately $1,116,011,669.15. This trade represents a 0.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities &amp; Exchange Commission, which is accessible through the SEC website. Also, CEO William Joseph Brennan sold 18,016 shares of the business's stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $2,759,330.56. Following the completion of the transaction, the chief executive officer owned 301,891 shares in the company, valued at $46,237,625.56. This trade represents a 5.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 1,311,246 shares of company stock worth $200,335,333. 11.84% of the stock is currently owned by company insiders. </p><h2>Institutional Investors Weigh In On Credo Technology Group</h2><p>Institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. acquired a new position in  Credo Technology Group in the first quarter worth approximately $25,000.  Atlantic Union Bankshares Corp bought a new stake in  Credo Technology Group in the third quarter worth approximately $25,000.  First Horizon Corp acquired a new position in shares of  Credo Technology Group during the 3rd quarter worth $26,000.  Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of  Credo Technology Group during the 2nd quarter valued at $27,000.  Finally, Virtus Advisers LLC acquired a new stake in shares of  Credo Technology Group in the 1st quarter valued at $31,000. 80.46% of the stock is currently owned by institutional investors and hedge funds. </p><h2>Credo Technology Group Company Profile</h2> (Get Free Report)<p>Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.</p><h2>Read More</h2><ul><li>Five stocks we like better than Credo Technology Group</li><li>Insider Selling Explained: Can it Inform Your Investing Choices?</li><li>Broadcom Stock Crashes 20%—But Wall Street Sees It Soaring to $500</li><li>Stock Splits, Do They Really Impact Investors?</li><li>Forget the Chips: 4 Industrial Plays for the AI Rebound</li><li>Growth Stocks: What They Are, Examples and How to Invest</li><li>MongoDB Could Hit Record Highs—But You’ll Need to Move Fast</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Credo Technology Group Right Now?</h2><p>Before you consider Credo Technology Group, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Credo Technology Group wasn't on the list.</p><p>While Credo Technology Group currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

CRDO

<p>Credo Technology Group's stock rose 3.3% to $138.57, with analysts raising price targets and maintaining strong buy ratings. The company reported strong quarterly earnings, beating estimates with $0.67 EPS and $268.03 million revenue. Insider sales included shares by Director Pantas Sutardja and CEO William Joseph Brennan. Institutional investors have increased their positions, owning 80.46% of the stock.</p>

Credo Technology Group (NASDAQ:CRDO) Shares Up 3.3% - Here's Why