Credo Technology Group (NASDAQ:CRDO) Coverage Initiated by Analysts at TD Cowen

TD Cowen started coverage on shares of Credo Technology Group (NASDAQ:CRDO) in a research note released on Wednesday morning. The firm issued a buy rating and a $170.00 target price on the stock.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Credo Technology Group from a “hold” rating to a “buy” rating in a research note on Sunday. Needham & Company LLC boosted their target price on shares of Credo Technology Group from $85.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Roth Capital restated a “buy” rating and issued a $170.00 price target on shares of Credo Technology Group in a report on Tuesday. Susquehanna upped their price objective on shares of Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a report on Thursday, September 4th. Finally, Mizuho increased their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $128.55.

Credo Technology Group Stock Down 0.5%

CRDO opened at $144.91 on Wednesday. Credo Technology Group has a twelve month low of $29.09 and a twelve month high of $176.70. The company has a fifty day moving average of $131.38 and a 200-day moving average of $86.69. The stock has a market cap of $25.07 billion, a PE ratio of 216.28 and a beta of 2.60.

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

Insider Transactions at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the sale, the chief executive officer owned 2,061,978 shares in the company, valued at approximately $220,363,588.86. This trade represents a 6.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $91.94, for a total value of $5,056,700.00. Following the completion of the transaction, the chief technology officer owned 7,328,961 shares in the company, valued at $673,824,674.34. The trade was a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 798,915 shares of company stock worth $99,967,495 over the last three months. 11.84% of the stock is owned by insiders.

Institutional Trading of Credo Technology Group

Hedge funds have recently bought and sold shares of the business. Operose Advisors LLC grew its stake in Credo Technology Group by 69.2% in the 1st quarter. Operose Advisors LLC now owns 616 shares of the company’s stock valued at $25,000 after purchasing an additional 252 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in Credo Technology Group during the first quarter valued at about $25,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Credo Technology Group during the first quarter worth about $27,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Credo Technology Group in the second quarter worth about $27,000. Finally, Harbour Investments Inc. bought a new stake in Credo Technology Group in the first quarter worth about $29,000. 80.46% of the stock is currently owned by institutional investors.

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.