Credo Technology Group (NASDAQ:CRDO) Cut to “Hold” at Zacks Research

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

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. assumed coverage on shares of Credo Technology Group in a research report on Friday, October 17th. They set an “overweight” rating and a $165.00 price target for the company. Bank of America lifted their price target on Credo Technology Group from $165.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday, December 2nd. TD Cowen reissued a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, December 2nd. Mizuho boosted their price objective on Credo Technology Group from $165.00 to $225.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 2nd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Credo Technology Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $216.54.

Credo Technology Group Price Performance

Shares of NASDAQ CRDO opened at $96.95 on Monday. The company has a market cap of $17.51 billion, a PE ratio of 85.04 and a beta of 2.65. The stock has a fifty day moving average price of $147.68 and a 200 day moving average price of $142.08. Credo Technology Group has a 1-year low of $29.09 and a 1-year high of $213.80.

Credo Technology Group (NASDAQ:CRDO) last issued its quarterly earnings results on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.18. The business had revenue of $268.03 million for the quarter, compared to analyst estimates of $234.99 million. Credo Technology Group had a net margin of 26.63% and a return on equity of 25.28%. The business’s revenue was up 272.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.07 earnings per share. Analysts anticipate that Credo Technology Group will post 0.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CTO Chi Fung Cheng sold 55,000 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.70, for a total value of $9,608,500.00. Following the completion of the transaction, the chief technology officer owned 6,613,961 shares in the company, valued at approximately $1,155,458,986.70. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Joseph Brennan sold 50,000 shares of Credo Technology Group stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $153.16, for a total value of $7,658,000.00. Following the sale, the chief executive officer directly owned 1,892,502 shares in the company, valued at $289,855,606.32. The trade was a 2.57% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 917,976 shares of company stock valued at $136,567,647 in the last ninety days. Company insiders own 11.84% of the company’s stock.

Institutional Investors Weigh In On Credo Technology Group

Several hedge funds and other institutional investors have recently bought and sold shares of CRDO. JPMorgan Chase & Co. raised its holdings in shares of Credo Technology Group by 36.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 6,508,934 shares of the company’s stock worth $602,662,000 after purchasing an additional 1,739,844 shares in the last quarter. Bank of America Corp DE boosted its position in Credo Technology Group by 161.5% during the 3rd quarter. Bank of America Corp DE now owns 2,278,073 shares of the company’s stock worth $331,710,000 after acquiring an additional 1,406,752 shares during the period. Rafferty Asset Management LLC purchased a new stake in Credo Technology Group in the 3rd quarter worth approximately $183,553,000. Alliancebernstein L.P. boosted its position in Credo Technology Group by 66.0% during the second quarter. Alliancebernstein L.P. now owns 3,064,891 shares of the company’s stock valued at $283,778,000 after purchasing an additional 1,218,504 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Credo Technology Group by 2,537.7% in the 3rd quarter. Marshall Wace LLP now owns 1,150,000 shares of the company’s stock valued at $167,452,000 after buying an additional 1,106,401 shares in the last quarter. 80.46% of the stock is currently owned by institutional investors.

Credo Technology Group News Roundup

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

• Positive Sentiment: Strategic product/partner progress: Credo is promoting its Blue Heron 224G retimer (3nm) for AI scale‑up networking and announced deals/partnerships (including coverage on the Blue Heron/3M angle) that support longer‑term revenue upside in AI data‑center interconnects. Read More.
• Positive Sentiment: Bullish research and theses: Bank of America and other analysts continue to frame Credo as a long‑term beneficiary of AI/cloud connectivity, and several bullish writeups argue current pullbacks are attractive entry points. Read More.
• Positive Sentiment: Independent investor bullish pieces: Some investors and analysts have recently upgraded or publicly said they’re buying at lower levels, highlighting strong revenue growth and margin expansion as a catalyst for recovery. Read More.
• Neutral Sentiment: Short‑interest data appears anomalous/insignificant (reported as effectively zero); this suggests short activity is not a meaningful driver of today’s move. (Data flagged as irregular.)
• Neutral Sentiment: Broader bull‑case commentary and research pieces remain available for longer‑term investors but are not immediate market movers. Read More.
• Negative Sentiment: Insider selling pressure: Multiple insiders sold shares in late January (CEO/related filings, CTO sale of 27,500 shares, and a director sale of 1,875 shares). These disclosed Form 4 sales can hurt sentiment, especially after a strong run‑up. Read More. • Read More. • Read More.
• Negative Sentiment: Analyst downgrades/ratings pressure: Zacks moved Credo from “strong‑buy” to “hold,” and at least one Seeking Alpha piece published a rating downgrade — actions that can prompt short‑term selling or stop‑loss triggers. Read More. • Read More.

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.