Credo Technology Group (NASDAQ:CRDO) Earns Buy Rating from Needham & Company LLC

Credo Technology Group (NASDAQ:CRDO)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $220.00 target price on the stock. Needham & Company LLC’s target price would suggest a potential upside of 38.43% from the stock’s current price.

A number of other equities analysts have also recently commented on CRDO. Mizuho dropped their target price on Credo Technology Group from $225.00 to $200.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Stifel Nicolaus set a $200.00 target price on Credo Technology Group in a report on Tuesday, March 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $125.00 target price on shares of Credo Technology Group in a report on Monday, March 23rd. Craig Hallum reiterated a “buy” rating and issued a $200.00 target price on shares of Credo Technology Group in a report on Tuesday, March 3rd. Finally, The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the stock a “buy” rating in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $207.81.

Credo Technology Group Price Performance

NASDAQ:CRDO opened at $158.93 on Wednesday. Credo Technology Group has a 1 year low of $33.04 and a 1 year high of $213.80. The stock’s 50 day simple moving average is $115.20 and its two-hundred day simple moving average is $137.19. The company has a market cap of $29.31 billion, a price-to-earnings ratio of 88.29 and a beta of 2.72.

Credo Technology Group (NASDAQ:CRDO) last announced its earnings results on Monday, March 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.29. The firm had revenue of $407.01 million during the quarter, compared to analysts’ expectations of $385.94 million. Credo Technology Group had a return on equity of 29.63% and a net margin of 31.81%.The company’s quarterly revenue was up 201.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. As a group, analysts anticipate that Credo Technology Group will post 0.13 EPS for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 50,000 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $117.68, for a total value of $5,884,000.00. Following the transaction, the chief executive officer owned 1,782,502 shares of the company’s stock, valued at $209,764,835.36. This represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Chi Fung Cheng sold 30,000 shares of the company’s stock in a transaction on Thursday, January 22nd. The shares were sold at an average price of $136.33, for a total value of $4,089,900.00. Following the completion of the transaction, the chief technology officer directly owned 6,327,370 shares in the company, valued at $862,610,352.10. This trade represents a 0.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 393,999 shares of company stock worth $45,888,245 in the last ninety days. 11.84% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Credo Technology Group

Hedge funds have recently bought and sold shares of the business. Optimize Financial Inc purchased a new stake in shares of Credo Technology Group in the 3rd quarter worth $1,431,000. Estate Counselors LLC purchased a new stake in shares of Credo Technology Group in the 3rd quarter worth $2,548,000. Global Trust Asset Management LLC purchased a new stake in shares of Credo Technology Group in the 3rd quarter worth $2,167,000. New York State Common Retirement Fund lifted its holdings in shares of Credo Technology Group by 106.5% in the 3rd quarter. New York State Common Retirement Fund now owns 146,134 shares of the company’s stock worth $21,279,000 after buying an additional 75,369 shares during the period. Finally, EFG Asset Management North America Corp. lifted its holdings in shares of Credo Technology Group by 76.5% in the 3rd quarter. EFG Asset Management North America Corp. now owns 21,976 shares of the company’s stock worth $3,200,000 after buying an additional 9,527 shares during the period. Institutional investors own 80.46% of the company’s stock.

More Credo Technology Group News

Here are the key news stories impacting Credo Technology Group this week:

• Positive Sentiment: Strategic acquisition — Credo agreed to buy DustPhotonics (reported at roughly $750M) to add silicon‑photonic PIC technology and deepen its role in AI/data‑center optical connectivity; the deal expands addressable market and was the primary catalyst for the recent rally. Credo Acquires DustPhotonics
• Positive Sentiment: Strong analyst support — Multiple firms issued bullish notes or initiated coverage (Needham reaffirmed Buy with a $220 target; Jefferies began coverage), which reinforces the growth narrative and likely drew fresh demand. Brokerage Notes
• Positive Sentiment: Heavy call‑option flow — Reports of unusually large call buying suggest speculative and hedged bullish positioning that can amplify upside momentum. Options Activity
• Neutral Sentiment: ESG disclosure — Credo released its first FY2025 GHG report, improving transparency (plans to expand to Scope 3). ESG reporting may broaden investor interest but is unlikely to move near‑term fundamentals. GHG Report
• Neutral Sentiment: Mixed analyst signals — Rosenblatt raised its price target to $175 but kept a Neutral rating; Zacks moved from strong‑buy to hold. Conflicting analyst views can increase short‑term volatility as investors parse differing valuations. Analyst Coverage Notes
• Neutral Sentiment: Management outreach — An M&A call/transcript and further integration details are expected; execution details and timing will be important for modeling the acquisition’s financial impact. M&A Call Transcript
• Negative Sentiment: Insider selling — CTO Chi Fung Cheng recently sold multiple blocks (including 27,500 shares) and CFO Daniel Fleming sold 7,580 shares under pre‑arranged 10b5‑1 plans; while disclosed as planned, these sales have been cited by traders as a reason for near‑term profit‑taking. CTO Form 4 / MarketBeat CFO Form 4
• Negative Sentiment: Short‑term profit‑taking risk — After a rapid run (one‑year returns well into triple digits), the stock is more sensitive to mixed research notes, insider sales, and general market rotation away from high‑beta, AI‑related names. Market Commentary

About Credo Technology Group

Credo Technology Group, Inc (NASDAQ: CRDO) is a fabless semiconductor company that develops high‑speed connectivity solutions for cloud, enterprise and telecommunications infrastructure. The company focuses on semiconductors and related IP that enable reliable, low‑latency movement of large volumes of data between servers, switches and optical modules in data centers and network equipment.

Credo’s product portfolio centers on high‑speed analog and mixed‑signal devices designed to preserve signal integrity and extend reach over copper and optical links.