Credo Technology Group (NASDAQ:CRDO) Stock Price Expected to Rise, Mizuho Analyst Says

Credo Technology Group (NASDAQ:CRDO) had its price target boosted by equities research analysts at Mizuho from $135.00 to $155.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Mizuho’s target price indicates a potential upside of 10.07% from the company’s previous close.

CRDO has been the topic of a number of other research reports. Noble Financial upgraded shares of Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Barclays raised their target price on shares of Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research report on Thursday. Wall Street Zen lowered shares of Credo Technology Group from a “buy” rating to a “hold” rating in a research report on Sunday, August 24th. TD Cowen raised their target price on shares of Credo Technology Group from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC raised their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to MarketBeat, Credo Technology Group presently has a consensus rating of “Buy” and an average target price of $126.27.

Credo Technology Group Price Performance

CRDO stock opened at $140.82 on Thursday. The company’s 50 day simple moving average is $109.39 and its 200-day simple moving average is $73.87. The firm has a market capitalization of $24.36 billion, a PE ratio of 210.18, a P/E/G ratio of 2.40 and a beta of 2.59. Credo Technology Group has a 12 month low of $24.08 and a 12 month high of $142.57.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $223.07 million during the quarter, compared to analyst estimates of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 20.24%. The firm’s revenue for the quarter was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.04 earnings per share. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, sell-side analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current year.

Insiders Place Their Bets

In other Credo Technology Group news, Director Lip Bu Tan sold 171,473 shares of the stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $77.90, for a total transaction of $13,357,746.70. Following the transaction, the director owned 613,725 shares of the company’s stock, valued at $47,809,177.50. This trade represents a 21.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $106.87, for a total transaction of $16,030,500.00. Following the transaction, the chief executive officer directly owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,123,654 shares of company stock valued at $101,794,933 over the last quarter. Company insiders own 11.84% of the company’s stock.

Hedge Funds Weigh In On Credo Technology Group

A number of hedge funds have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at $1,296,000. Orion Porfolio Solutions LLC purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at $663,000. Thrivent Financial for Lutherans raised its stake in shares of Credo Technology Group by 5.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 35,225 shares of the company’s stock valued at $3,261,000 after acquiring an additional 1,812 shares during the period. Thompson Davis & CO. Inc. purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at $380,000. Finally, B. Riley Wealth Advisors Inc. purchased a new position in shares of Credo Technology Group in the 2nd quarter valued at $272,000. Hedge funds and other institutional investors own 80.46% of the company’s stock.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.