New York, Jan 9, 2026, 12:32 EST — Regular session
- Credo Technology shares up about 8.5% midday after fresh bullish broker notes
- Needham added the stock to its “Conviction List” and kept a $220 price target
- SEC filings show CEO Bill Brennan and CFO Dan Fleming filed Form 144 notices for planned share sales
Credo Technology Group Holding Ltd shares climbed on Friday after Needham named the data-center connectivity chipmaker a 2026 “Top Pick,” extending a volatile week for the stock. The shares were up about 8.5% at $153.62 in midday trading.
The call matters because Credo has become a crowded way to play the buildout of high-speed links inside artificial-intelligence data centers. When brokers turn more positive, flows can move fast in names like this, and short-dated options can amplify the swing.
It also lands as investors weigh whether insider selling will add supply near recent highs. Two Form 144 filings this week flagged potential sales by senior executives, though such notices often tie to pre-set trading plans and do not guarantee sales.
Needham on Friday kept its Buy rating and $220 price target and said it added Credo to its Conviction List, pointing to what it sees as a near-term lift from wider adoption of active electrical cables, or AECs — high-speed copper cables used to connect equipment in data centers. The firm urged investors to “focus on the signal in the current noise.” (Investing)
Stifel reiterated a Buy rating and set a $225 price target after a meeting with management at CES 2026, according to analyst Jeffrey Stantial. Stifel said Credo is using its AEC footing to push into more system-level products across high-speed connectivity. (Investing)
Mizuho, in a separate note earlier this week, said demand for Credo’s AEC portfolio remains strong as more cloud customers ramp deployments, and it pointed to continued momentum at big buyers such as Amazon Web Services and Microsoft. It also flagged optical compute interconnect, or OCI — links that move data between compute and optics — as a potential next leg as deployments broaden. (Investing)
In filings dated Jan. 7, CEO William Joseph Brennan disclosed a Form 144 notice covering up to 155,964 common shares, and CFO Daniel Fleming disclosed a notice covering up to 8,562 shares. Both filings referenced Rule 10b5-1 trading plans, which are pre-arranged programs that can allow insiders to trade on a set schedule. (SEC)
But the stock’s sensitivity cuts both ways. Any sign that hyperscaler spending is slowing, or that competing interconnect approaches bite harder than expected, can hit the multiple quickly, and investors will also watch for follow-through selling tied to the insider plans.
Next up, traders are eyeing whether the stock can hold above recent breakout levels after Friday’s spike and whether volume stays elevated into the close. On the calendar, Credo’s next earnings date has not been announced; Zacks’ calendar currently expects results on March 3. (Zacks)
