Credo Technology Surges to 167th in Trading Volume with $674 Million Day

On July 18, 2025, Credo Technology (CRDO) experienced a significant trading volume of $674 million, marking a 38.29% increase from the previous day. This surge placed Credo at the 167th position in terms of trading volume for the day. However, the stock price of Credo Technology declined by 5.06%, marking the third consecutive day of decline, with a total decrease of 8.89% over the past three days.

Stifel has raised its price target for Credo Technology to $115 from $80, while maintaining a Buy rating. This adjustment comes as the semiconductor industry appears to be recovering from a two-year inventory correction, although the pace of this recovery remains uncertain. The firm continues to recommend an Overweight position in AI-related semiconductor stocks, expecting median revenue growth of 32% in 2025 and 17% in 2026 for its covered group of AI-focused companies.

Credo Technology's stock has been subject to intense speculation, as evidenced by its dynamic PE ratio of 306x and a turnover exceeding $30 million. The recent price target increase by Stifel, along with strategic alignments, suggests that the stock's volatility may be driven by market speculation rather than fundamental changes in the company's performance.