Credo Technology Group (NASDAQ:CRDO) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Credo Technology Group (NASDAQ:CRDO) in a research report report published on Tuesday morning,Benzinga reports. They currently have a $220.00 price target on the stock.

Several other research firms have also weighed in on CRDO. KGI Securities upgraded shares of Credo Technology Group from a “hold” rating to an “outperform” rating and set a $230.00 target price for the company in a research note on Tuesday, December 2nd. Wolfe Research set a $240.00 price objective on shares of Credo Technology Group in a research report on Tuesday, December 2nd. JPMorgan Chase & Co. assumed coverage on shares of Credo Technology Group in a research note on Friday, October 17th. They set an “overweight” rating and a $165.00 price objective on the stock. Barclays restated an “overweight” rating and issued a $260.00 target price on shares of Credo Technology Group in a research note on Thursday, January 15th. Finally, Rosenblatt Securities started coverage on Credo Technology Group in a report on Wednesday, January 21st. They set a “neutral” rating and a $170.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $212.69.

Credo Technology Group Stock Performance

Shares of CRDO stock opened at $134.72 on Tuesday. The stock has a market capitalization of $24.33 billion, a price-to-earnings ratio of 118.18 and a beta of 2.65. Credo Technology Group has a one year low of $29.09 and a one year high of $213.80. The company’s 50-day simple moving average is $143.01 and its 200-day simple moving average is $142.92.

Credo Technology Group (NASDAQ:CRDO) last announced its quarterly earnings data on Monday, December 1st. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.18. The firm had revenue of $268.03 million for the quarter, compared to analysts’ expectations of $234.99 million. Credo Technology Group had a return on equity of 25.28% and a net margin of 26.63%.Credo Technology Group’s revenue for the quarter was up 272.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.07 earnings per share. As a group, research analysts forecast that Credo Technology Group will post 0.13 EPS for the current year.

Insider Buying and Selling

In other news, CEO William Joseph Brennan sold 18,016 shares of the stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $127.69, for a total value of $2,300,463.04. Following the completion of the transaction, the chief executive officer directly owned 252,625 shares in the company, valued at $32,257,686.25. This trade represents a 6.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sylvia Acevedo sold 2,200 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $159.18, for a total value of $350,196.00. Following the sale, the director directly owned 18,545 shares in the company, valued at approximately $2,951,993.10. The trade was a 10.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 917,976 shares of company stock worth $136,567,647. Company insiders own 11.84% of the company’s stock.

Institutional Trading of Credo Technology Group

Several institutional investors have recently modified their holdings of the company. Crewe Advisors LLC grew its holdings in Credo Technology Group by 163.1% during the fourth quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock worth $25,000 after acquiring an additional 106 shares during the period. Atlantic Union Bankshares Corp bought a new position in shares of Credo Technology Group during the 3rd quarter valued at about $25,000. First Horizon Corp acquired a new position in shares of Credo Technology Group in the 3rd quarter worth approximately $26,000. Flagship Harbor Advisors LLC bought a new stake in shares of Credo Technology Group in the 4th quarter worth approximately $32,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Credo Technology Group during the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

Credo Technology Group News Roundup

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

• Positive Sentiment: Company preliminary Q3 revenue guidance of $404M–$408M significantly beat prior guidance/consensus, and Credo scheduled a Q3 results call — this is the primary catalyst lifting the stock as it signals strong hyperscaler and AI networking demand. Business Wire: Credo Provides Preliminary Q3 Revenue Results
• Positive Sentiment: Analysts and media emphasize the beat: Zacks and Schaeffer highlight that the preliminary results and raised forecast point to surging hyperscaler/AI networking demand — supportive for forward revenue and margin outlook. Zacks: CRDO Up on Preliminary Q3 Revenue Beat
• Positive Sentiment: Schaeffer and other outlets note the stock is trading on the preliminary beat and raised outlook ahead of formal earnings, which can sustain momentum into the official release. Schaeffers: Chip Stock Extends Rebound
• Positive Sentiment: Needham reaffirmed its Buy rating and set a $220 price target (~material upside vs. current levels), providing fresh analyst support for the rally. Benzinga: Needham Reaffirms Buy
• Neutral Sentiment: Coverage previews and analysis (Seeking Alpha) discuss Credo’s transition from a “cable story” to broader AI networking exposure and valuation dynamics; these provide context but are not immediate catalysts. Seeking Alpha: Credo Earnings Preview
• Neutral Sentiment: Market headlines (Benzinga, Investing.com) flagged Credo among premarket movers and broader futures strength; useful for sentiment but secondary to company results. Benzinga: Why Is Credo Soaring?
• Negative Sentiment: Short‑interest data in the feed appears to be a reporting glitch (zeros/NaN); if genuine increases in shorting emerge later, that could add volatility, but current data is inconclusive. (Entry reports short interest total = 0 with NaN changes.)

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.