Credo Technology Group (NASDAQ:CRDO) Trading Up 2.2% – What’s Next?

Shares of Credo Technology Group Holding Ltd. (NASDAQ:CRDO) rose 2.2% during mid-day trading on Monday . The company traded as high as $152.75 and last traded at $146.01. Approximately 5,234,863 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 5,304,740 shares. The stock had previously closed at $142.93.

Analyst Ratings Changes

CRDO has been the topic of a number of research reports. Needham & Company LLC raised their price target on Credo Technology Group from $85.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, September 4th. TD Cowen lifted their target price on Credo Technology Group from $140.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Roth Capital lifted their target price on Credo Technology Group from $95.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, September 4th. Susquehanna lifted their target price on Credo Technology Group from $115.00 to $165.00 and gave the company a “positive” rating in a research report on Thursday, September 4th. Finally, Noble Financial upgraded Credo Technology Group to a “strong-buy” rating in a research report on Tuesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Credo Technology Group presently has an average rating of “Buy” and an average price target of $126.27.

Credo Technology Group Price Performance

The company has a 50-day moving average price of $128.39 and a 200 day moving average price of $85.19. The firm has a market capitalization of $25.26 billion, a PE ratio of 217.93 and a beta of 2.59.

Credo Technology Group (NASDAQ:CRDO) last released its quarterly earnings results on Wednesday, September 3rd. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The firm had revenue of $223.07 million for the quarter, compared to analysts’ expectations of $190.63 million. Credo Technology Group had a net margin of 20.85% and a return on equity of 19.02%. The business’s quarterly revenue was up 273.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Credo Technology Group has set its Q2 2026 guidance at EPS. As a group, research analysts anticipate that Credo Technology Group Holding Ltd. will post 0.13 earnings per share for the current year.

Insider Buying and Selling at Credo Technology Group

In other Credo Technology Group news, CEO William Joseph Brennan sold 150,000 shares of Credo Technology Group stock in a transaction on Friday, August 1st. The shares were sold at an average price of $106.87, for a total value of $16,030,500.00. Following the completion of the transaction, the chief executive officer directly owned 2,061,978 shares of the company’s stock, valued at $220,363,588.86. This trade represents a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $91.94, for a total transaction of $5,056,700.00. Following the completion of the sale, the chief technology officer owned 7,328,961 shares in the company, valued at approximately $673,824,674.34. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 743,915 shares of company stock valued at $91,779,645 in the last quarter. 11.84% of the stock is owned by company insiders.

Institutional Investors Weigh In On Credo Technology Group

Several institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new position in shares of Credo Technology Group during the 2nd quarter valued at approximately $1,296,000. Orion Porfolio Solutions LLC purchased a new position in Credo Technology Group during the second quarter worth $663,000. Thrivent Financial for Lutherans increased its position in Credo Technology Group by 5.4% during the second quarter. Thrivent Financial for Lutherans now owns 35,225 shares of the company’s stock valued at $3,261,000 after acquiring an additional 1,812 shares during the last quarter. Thompson Davis & CO. Inc. purchased a new stake in shares of Credo Technology Group in the second quarter valued at $380,000. Finally, B. Riley Wealth Advisors Inc. purchased a new stake in shares of Credo Technology Group in the second quarter valued at $272,000. 80.46% of the stock is owned by institutional investors.

Credo Technology Group Company Profile

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.