Credo Technology Group (NASDAQ:CRDO) Receives Buy Rating from 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 target price on the stock.

A number of other analysts also recently issued reports on the company. Rosenblatt Securities lowered their price target on Credo Technology Group from $170.00 to $125.00 and set a “neutral” rating for the company in a research report on Tuesday. New Street Research set a $240.00 target price on shares of Credo Technology Group in a report on Tuesday, December 2nd. Barclays reaffirmed an “overweight” rating and set a $260.00 price target on shares of Credo Technology Group in a research note on Thursday, January 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Credo Technology Group in a research report on Monday, December 29th. Finally, The Goldman Sachs Group set a $165.00 target price on Credo Technology Group and gave the company a “buy” rating in a research report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Credo Technology Group has a consensus rating of “Moderate Buy” and a consensus target price of $206.33.

Credo Technology Group Trading Down 14.8%

Shares of NASDAQ CRDO opened at $97.30 on Tuesday. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 54.06 and a beta of 2.67. Credo Technology Group has a 12-month low of $29.09 and a 12-month high of $213.80. The firm’s 50-day moving average price is $132.06 and its 200-day moving average price is $143.44.

Credo Technology Group (NASDAQ:CRDO) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.29. The business had revenue of $407.01 million during the quarter, compared to analyst estimates of $385.94 million. Credo Technology Group had a return on equity of 37.17% and a net margin of 31.81%.The company’s revenue for the quarter was up 201.5% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. On average, equities analysts predict that Credo Technology Group will post 0.13 EPS for the current fiscal year.

Insider Buying and Selling

In other Credo Technology Group news, COO Yat Tung Lam sold 370,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $153.19, for a total transaction of $56,680,300.00. Following the transaction, the chief operating officer directly owned 400,000 shares in the company, valued at $61,276,000. This trade represents a 48.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 of the company’s stock, valued at approximately $289,855,606.32. This trade represents a 2.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 917,976 shares of company stock valued at $136,567,647 over the last quarter. 11.84% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crewe Advisors LLC raised its holdings in shares of Credo Technology Group by 163.1% in the 4th quarter. Crewe Advisors LLC now owns 171 shares of the company’s stock valued at $25,000 after purchasing an additional 106 shares in the last quarter. Reflection Asset Management bought a new position in shares of Credo Technology Group during the fourth quarter valued at approximately $25,000. Atlantic Union Bankshares Corp purchased a new position in Credo Technology Group during the third quarter valued at approximately $25,000. Acumen Wealth Advisors LLC bought a new position in Credo Technology Group in the fourth quarter worth approximately $25,000. Finally, First Horizon Corp bought a new position in Credo Technology Group in the third quarter worth approximately $26,000. 80.46% of the stock is currently owned by institutional investors.

Key Credo Technology Group News

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

• Positive Sentiment: Strong beat: CRDO reported Q3 revenue of $407M (≈+201% YoY) and $1.07 EPS, materially above estimates — evidence of robust demand and execution. Credo quarterly earnings transcript
• Positive Sentiment: Guidance beat: management gave Q4 revenue guidance (~$425M–$435M) above Street consensus and projected >50% revenue growth for FY2027, supporting the multi-quarter growth narrative. BusinessWire: Q3 results press release
• Positive Sentiment: Product & partnerships: Credo is accelerating ZeroFlap optics ramp and expanding partnerships (TensorWave, CoMira), which lengthens the TAM for optical interconnects in AI datacenters. These are constructive for medium-term revenue growth. Zacks: Credo & TensorWave team-up
• Neutral Sentiment: Mixed analyst views: several firms reiterated buys but some lowered price targets — the consensus view still bullish on long-term upside but with nearer-term model adjustments. Benzinga: analysts revise forecasts
• Neutral Sentiment: Short-interest data currently shows no meaningful days-to-cover signal; not a clear driver of today’s volume spike.
• Negative Sentiment: Trade hangover / profit-taking: CRDO was caught in a sector-wide pullback after a recent surge — heavy selling pressure drove a double-digit drop as traders rotated out of high-flyers. 247WallSt: AI stocks diverge
• Negative Sentiment: Deceleration & margin concerns: despite beat and guidance, commentary and Q4 gross-margin guidance were viewed as conservative — analysts and investors fear AEC growth could slow into FY27, prompting re-rating. Seeking Alpha: Is AI Broken?
• Negative Sentiment: Macro risk-off: broader market volatility (geopolitical headlines, futures weakness) amplified selling in tech/AI names, increasing intraday volume and downside pressure on CRDO. Benzinga: futures plunge, market in focus

Credo Technology Group Company Profile

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.