On September 14, Credo Technology Group Holding Ltd fell 5.8% in pre-market trading, trading at approximately $153.88/share, with turnover of $7.23 million.

The decline comes amid a broad semiconductor sector selloff, with Intel down 5.59%, Micron Technology down 5.03%, Advanced Micro Devices down 4.78%, Broadcom down 3.12%, and NVIDIA down 2.1%, reflecting systemic industry pressure. JPMorgan cut its target price on Credo from $335 to $310, while Bank of America also lowered its target to $275, maintaining a Buy rating. The wave of target price reductions follows the company's fiscal Q1 earnings release in early September, where despite beating consensus with revenue of $479 million and adjusted EPS of $1.20 versus the $1.17 estimate, the stock sold off sharply as investors flagged shrinking margins, rising R&D expenses, and a disappointing optical product revenue outlook for fiscal year 2027. The sector-wide pullback driven by escalating trade tensions and semiconductor export controls has compounded the post-earnings valuation reassessment, intensifying downward pressure on the stock.

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