CRDO
Credo Technology Group Holding Ltd

Credo Technology Group Holding LtdCRDO

Technology · Semiconductors
120.51USD
+7.28%
Nov 08, 2026
CRDO overview ready
High-Speed Connectivity Silicon and Cable Solutions for AI Data Centers
Credo supplies high-speed connectivity silicon and cable/transceiver solutions used to move data through AI-scale data-center fabrics, particularly where bandwidth, reach, signal integrity, and power efficiency constrain cluster scaling.
Primary theme is lagging
Connectivity Semiconductors is lagging (-38.0pp vs SPY over 21 sessions; 0 of 5 members ahead of SPY).
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
Fair valuation
The price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.
Unremarkable fundamentals
Primary risk
Dependence on AI and data center capital expenditure cycles.
Market Nov 6Filing Aug 1Price action Nov 7Research Sep 30

Conviction Level

PriceAction1.4BusinessPerformance4.0BusinessQuality5.8Valuation3.5ThemeMomentum1.0Decelerating — Revenue is still growing (+115% YoY), but growth has slowed for 3 consecutive quarters, down from +272%. Diluted EPS is up 97% year over year ($0.67), but growth has slowed from +413%. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
vs SPY
−38.0pp
Theme return
−43.0%
Beating SPY
0 of 5
21 sessions to Nov 6, 2026 · Theme Leadership V2
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of failed reclaim.
The tactical setup reads failed reclaim, but the weekly structure is broken.
EntryDamaged / breakdown

The technical structure itself is broken across timeframes — the weakest entry profile.

Key Financials

Market Cap
$22.7B
Avg Volume (60D)
8.8M
60 sessions
Revenue Growth YoY
+205.7%
FY2026 vs FY2025
Gross Margin
+67.1%
Trailing twelve months
Operating Margin
+31.7%
Trailing twelve months
Free Cash Flow Yield
+1.9%
Distance from 200DMA
-33.3%
Next Earnings
2026-11-30
P/E
42.1x
Market metrics as of Nov 6, 2026
Financial results for the period ended Aug 1, 2026
Filed balance-sheet data as of Aug 1, 2026

Business Performance

Decelerating

Revenue is still growing (+115% YoY), but growth has slowed for 3 consecutive quarters, down from +272%. Diluted EPS is up 97% year over year ($0.67), but growth has slowed from +413%.

Latest reported: Q1 FY2027, ended Aug 1
Revenue growthSlowing
+115%
$479M in Q1 FY2027 · YoY
YoY growth, last 4 quarters
  1. +272%
  2. +202%
  3. +157%
  4. +115%
Earnings growthSlowing
+97%
Diluted EPS $0.67 vs $0.34 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. n/a
  2. +413%
  3. +340%
  4. +97%
Operating marginStable
25.2%
-2.0 pp YoY · gross margin 64.5% (-2.9 pp)
The share count is rising

Business Quality

5.8 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

One of the two valuation perspectives says cheap; peers is the dissenting view. The published stance is held at fair because cyclical earnings may be at a cycle peak, inflating the earnings the multiple is measured against.
Credo Technology Group Holding Ltd has a Fair valuation stance because the price broadly reflects the level and quality of its cash generation, with upside and risk reasonably balanced.

Company Research

Thesis
Credo supplies high-speed connectivity silicon and cable/transceiver solutions used to move data through AI-scale data-center fabrics, particularly where bandwidth, reach, signal integrity, and power efficiency constrain cluster scaling.
Opportunity
High opportunity
AI-cluster deployment requires rapidly expanding bandwidth, lower-power signal transport, and reliable electrical and optical connectivity inside and between accelerator racks and fabric domains.
Key risk
Dependence on AI and data center capital expenditure cycles.

Economic classification

Loading the economic classification…

Business & Markets

Technology · Semiconductors
What they do

Credo Technology Group Holding Ltd designs and supplies high-speed connectivity silicon and cable/transceiver solutions for optical and electrical Ethernet and PCIe applications, operating internationally across the US, Taiwan, Mainland China, and Hong Kong.

How it earns

The company generates revenue primarily through transactional sales of semiconductor products, active cables, optical transceivers, and IP licensing.

Products & services
ZeroFlap (ZF) active electrical cables
ZF optical transceivers
OmniConnect memory solutions
Retimers and DSPs for Ethernet and PCIe
SerDes IP licensing
Customers & end markets
Data center operators
AI compute infrastructure providers
Telecommunications equipment manufacturers
Market position

Mid-cap pure-play supplier specializing in high-speed connectivity silicon and cable/transceiver solutions.

Demand drivers
Medium cyclicality

Demand is influenced by capital expenditure cycles in data centers and AI infrastructure buildouts, which can be variable.

Related companies

Finding other covered companies in the same part of this story…