Credo Technology Group (NASDAQ:CRDO) Upgraded at Zacks Research

Zacks Research upgraded shares of Credo Technology Group (NASDAQ:CRDO) from a hold rating to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

Other equities analysts have also issued reports about the company. Barclays lifted their price objective on Credo Technology Group from $85.00 to $165.00 and gave the stock an “overweight” rating in a research note on Thursday, September 4th. Mizuho lifted their price objective on Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, September 4th. Susquehanna lifted their price objective on Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research note on Thursday, September 4th. Stifel Nicolaus set a $155.00 price objective on Credo Technology Group in a research note on Thursday, September 4th. Finally, Noble Financial upgraded Credo Technology Group to a “strong-buy” rating in a research note on Tuesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating and twelve have given a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $126.27.

Credo Technology Group Price Performance

NASDAQ CRDO opened at $163.96 on Monday. Credo Technology Group has a fifty-two week low of $25.04 and a fifty-two week high of $164.06. The stock’s 50-day moving average is $113.21 and its two-hundred day moving average is $75.60. The firm has a market cap of $28.37 billion, a P/E ratio of 244.72 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last posted its earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The company had revenue of $223.07 million for the quarter, compared to the consensus estimate of $190.63 million. During the same quarter last year, the business earned $0.04 earnings per share. Credo Technology Group’s quarterly revenue was up 273.6% on a year-over-year basis. Credo Technology Group has set its Q2 2026 guidance at EPS. On average, equities analysts expect that Credo Technology Group will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In related news, CTO Chi Fung Cheng sold 55,000 shares of Credo Technology Group stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $146.21, for a total transaction of $8,041,550.00. Following the sale, the chief technology officer directly owned 7,053,961 shares of the company’s stock, valued at $1,031,359,637.81. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Joseph Brennan sold 46,444 shares of Credo Technology Group stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $106.87, for a total value of $4,963,470.28. Following the sale, the chief executive officer directly owned 393,338 shares in the company, valued at approximately $42,036,032.06. This trade represents a 10.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,037,444 shares of company stock valued at $100,235,647 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 modified their holdings of the stock. Operose Advisors LLC lifted its position in shares of Credo Technology Group by 69.2% during the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock worth $25,000 after buying an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $25,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Credo Technology Group during the 2nd quarter worth approximately $27,000. Finally, Harbour Investments Inc. bought a new position in shares of Credo Technology Group during the 1st quarter worth approximately $29,000. 80.46% of the stock is owned by institutional investors and hedge funds.

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.