Shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) are surging this morning, up 22% to trade at $208.35 at last check, earlier hitting a record high of $213.80. The semiconductor name is enjoying a post-earnings pop, after its fiscal second-quarter earnings, revenue, and sales all beat estimates. In fact, revenue for Q2 surged a whopping 272%.
CRDO has been on a tear up the charts, up 216% in 2025. The equity quickly bounced off the 120-day moving average following a brief pullback late last month, with today's win marking its fifth daily gain in six.
In response to today's beat, no fewer than eight analysts have handed out price-target hikes. The highest have come from TD Cowen and BofA Global Research to $240 from $190 and $165, respectively. More price-target hikes could be around the corner, with CRDO's average 12-month price target of $204.46 a 1.2% discount to current levels.
Options trader have been moving in this morning, with 21,000 calls and 19,000 puts across the tape so far, nine times the average daily pace. Most popular is the weekly 12/5 210-strike call, where new positions are being opened. The 130-strike put in the same weekly series following closely behind.
What's more, Credo Technology stock tends to outperform options traders' volatility expectations. This is per its Schaeffer's Volatility Scorecard (SVS) of 87 out of 100.
