Credo Technology Group (NASDAQ:CRDO) Upgraded at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen upgraded shares of Credo Technology Group (NASDAQ:CRDO – Free Report) from a hold rating to a buy rating in a research report report published on Friday.

A number of other research analysts also recently weighed in on CRDO. TD Cowen upped their price objective on shares of Credo Technology Group from $140.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Needham & Company LLC upped their price objective 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. Roth Capital upped their price objective on shares of Credo Technology Group from $95.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Cowen reiterated a “buy” rating on shares of Credo Technology Group in a research report on Tuesday, June 3rd. Finally, Mizuho upped their price objective on shares of Credo Technology Group from $135.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating and twelve have given a Buy rating to the stock. According to data from MarketBeat.com, Credo Technology Group has a consensus rating of “Buy” and a consensus target price of $126.27.

Read Our Latest Report on CRDO

Credo Technology Group Price Performance

NASDAQ CRDO opened at $140.82 on Friday. The company has a market capitalization of $24.36 billion, a PE ratio of 210.18 and a beta of 2.59. The company has a fifty day moving average of $109.39 and a 200 day moving average of $73.90. Credo Technology Group has a 1 year low of $24.08 and a 1 year high of $142.57.

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

Insider Activity at Credo Technology Group

In other news, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $107.12, for a total transaction of $5,891,600.00. Following the completion of the sale, the chief technology officer owned 7,108,961 shares of the company’s stock, valued at $761,511,902.32. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Pantas Sutardja sold 1,875 shares of the business’s stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $107.00, for a total transaction of $200,625.00. Following the sale, the director directly owned 5,898,652 shares of the company’s stock, valued at $631,155,764. This represents a 0.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,068,654 shares of company stock worth $97,805,783 over the last three months. Company insiders own 11.84% of the company’s stock.

Institutional Trading of Credo Technology Group

Hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC raised its holdings 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 valued at $270,000 after acquiring an additional 1,467 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Credo Technology Group in the 1st quarter valued at about $27,000. Teacher Retirement System of Texas raised its holdings in Credo Technology Group by 464.4% in the 1st quarter. Teacher Retirement System of Texas now owns 34,987 shares of the company’s stock valued at $1,405,000 after acquiring an additional 28,788 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Credo Technology Group by 15.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 21,730 shares of the company’s stock valued at $873,000 after acquiring an additional 2,947 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in Credo Technology Group in the 1st quarter valued at about $301,000. Institutional investors and hedge funds own 80.46% of the company’s stock.

About Credo Technology Group

(Get Free Report)

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.

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