Credo Technology Group (NASDAQ:CRDO) Coverage Initiated at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Credo Technology Group (NASDAQ:CRDO) in a report issued on Friday, Marketbeat.com reports. The brokerage set an “overweight” rating and a $165.00 price target on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.89% from the stock’s previous close.

A number of other brokerages have also weighed in on CRDO. Needham & Company LLC upped 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, September 4th. Susquehanna upped their target price on shares of Credo Technology Group from $115.00 to $165.00 and gave the stock a “positive” rating in a research report on Thursday, September 4th. Zacks Research upgraded shares of Credo Technology Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 8th. Cowen restated a “buy” rating on shares of Credo Technology Group in a research report on Thursday, September 4th. Finally, Stifel Nicolaus set a $160.00 price objective on shares of Credo Technology Group in a research report on Wednesday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $131.58.

Credo Technology Group Stock Performance

Shares of NASDAQ:CRDO opened at $143.61 on Friday. The firm has a fifty day moving average price of $138.80 and a 200 day moving average price of $95.10. Credo Technology Group has a fifty-two week low of $29.09 and a fifty-two week high of $176.70. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of 214.34 and a beta of 2.60.

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

Insider Activity at Credo Technology Group

In related news, CEO William Joseph Brennan sold 150,000 shares of the firm’s 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 transaction, the chief executive officer owned 2,061,978 shares of the company’s stock, valued at $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, COO Yat Tung Lam sold 80,000 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $143.53, for a total transaction of $11,482,400.00. Following the completion of the transaction, the chief operating officer directly owned 920,000 shares in the company, valued at $132,047,600. This represents a 8.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,006,589 shares of company stock worth $135,192,863. 11.84% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Realta Investment Advisors purchased a new position in Credo Technology Group in the 2nd quarter worth about $300,000. Janney Montgomery Scott LLC increased its stake in Credo Technology Group by 27.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 6,721 shares of the company’s stock worth $270,000 after buying an additional 1,467 shares during the period. Farther Finance Advisors LLC increased its position in Credo Technology Group by 850.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 4,135 shares of the company’s stock valued at $383,000 after purchasing an additional 3,700 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in Credo Technology Group during the 1st quarter valued at about $27,000. Finally, Teacher Retirement System of Texas increased its position in Credo Technology Group by 464.4% during the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after purchasing an additional 28,788 shares during the period. Hedge funds and other institutional investors own 80.46% of the company’s stock.

Credo Technology Group Company Profile

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.